Arvest Investments Inc. Purchases New Position in Eli Lilly and Company (NYSE:LLY)

Arvest Investments Inc. purchased a new stake in Eli Lilly and Company (NYSE:LLY) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 792 shares of the company’s stock, valued at approximately $616,000.

Several other large investors have also recently added to or reduced their stakes in LLY. EHP Funds Inc. acquired a new stake in Eli Lilly and Company in the 3rd quarter valued at $269,000. Legacy Advisors LLC increased its holdings in Eli Lilly and Company by 14.7% in the 3rd quarter. Legacy Advisors LLC now owns 2,045 shares of the company’s stock valued at $1,098,000 after purchasing an additional 262 shares in the last quarter. London Co. of Virginia increased its holdings in Eli Lilly and Company by 9.2% in the 3rd quarter. London Co. of Virginia now owns 25,654 shares of the company’s stock valued at $13,780,000 after purchasing an additional 2,168 shares in the last quarter. Jackson Wealth Management LLC increased its holdings in Eli Lilly and Company by 0.7% in the 3rd quarter. Jackson Wealth Management LLC now owns 6,399 shares of the company’s stock valued at $3,437,000 after purchasing an additional 47 shares in the last quarter. Finally, Seldon Capital LP acquired a new stake in shares of Eli Lilly and Company during the third quarter valued at about $217,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the sale, the insider now owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Johna Norton sold 7,056 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the sale, the executive vice president now owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the sale, the insider now directly owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The disclosure for this sale can be found here. Insiders have sold 858,742 shares of company stock valued at $735,573,781 over the last quarter. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $898.10 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The firm’s 50-day moving average price is $824.60 and its two-hundred day moving average price is $746.69. Eli Lilly and Company has a 52-week low of $434.34 and a 52-week high of $918.50. The stock has a market capitalization of $853.56 billion, a P/E ratio of 132.27, a P/E/G ratio of 1.96 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The firm had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. During the same quarter last year, the company posted $1.62 earnings per share. Eli Lilly and Company’s revenue was up 26.0% on a year-over-year basis. As a group, sell-side analysts forecast that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.58%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday. JPMorgan Chase & Co. raised their target price on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Truist Financial restated a “buy” rating and set a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Argus raised their target price on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Finally, Bank of America restated a “buy” rating and set a $1,000.00 target price on shares of Eli Lilly and Company in a research note on Monday, June 24th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $812.72.

About Eli Lilly and Company

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.