True Link Financial Advisors LLC Trims Holdings in Eli Lilly and Company (NYSE:LLY)

True Link Financial Advisors LLC trimmed its position in Eli Lilly and Company (NYSE:LLY) by 4.4% in the 1st quarter, HoldingsChannel reports. The fund owned 733 shares of the company’s stock after selling 34 shares during the quarter. True Link Financial Advisors LLC’s holdings in Eli Lilly and Company were worth $570,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LLY. EHP Funds Inc. purchased a new stake in Eli Lilly and Company in the 3rd quarter worth approximately $269,000. Legacy Advisors LLC boosted its stake 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 worth $1,098,000 after purchasing an additional 262 shares during the period. London Co. of Virginia boosted its stake 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 worth $13,780,000 after purchasing an additional 2,168 shares during the period. Jackson Wealth Management LLC boosted its stake 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 worth $3,437,000 after purchasing an additional 47 shares during the period. Finally, Seldon Capital LP bought a new position in Eli Lilly and Company in the 3rd quarter worth approximately $217,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $898.10 on Friday. The firm has a market cap 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. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. Eli Lilly and Company has a 12 month low of $434.34 and a 12 month high of $918.50. The stock’s fifty day moving average price is $824.60 and its 200-day moving average price is $746.69.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Monday, May 6th. The company reported $2.58 EPS for the quarter, beating the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The firm had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. During the same quarter last year, the firm posted $1.62 earnings per share. The business’s revenue for the quarter was up 26.0% on a year-over-year basis. On average, equities research analysts expect that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

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

Wall Street Analyst Weigh In

LLY has been the subject of a number of research reports. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Truist Financial restated a “buy” rating and issued a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Argus raised their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Finally, Jefferies Financial Group raised their price target on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $812.72.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 8,848 shares of Eli Lilly and Company stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $915.31, for a total value of $8,098,662.88. Following the transaction, the insider now owns 97,299,772 shares in the company, valued at $89,059,454,309.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Eli Lilly and Company news, EVP Johna Norton sold 7,056 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the sale, the executive vice president now owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 8,848 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $915.31, for a total value of $8,098,662.88. Following the completion of the sale, the insider now directly owns 97,299,772 shares of the company’s stock, valued at approximately $89,059,454,309.32. The disclosure for this sale can be found here. Insiders have sold 858,742 shares of company stock worth $735,573,781 over the last quarter. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Profile

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.