Heritage Family Offices LLP Purchases New Shares in Eli Lilly and Company (NYSE:LLY)

Heritage Family Offices LLP acquired a new position in shares of Eli Lilly and Company (NYSE:LLY) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,942 shares of the company’s stock, valued at approximately $1,759,000. Eli Lilly and Company accounts for 1.0% of Heritage Family Offices LLP’s portfolio, making the stock its 21st largest position.

A number of other large investors also recently added to or reduced their stakes in LLY. Tidemark LLC purchased a new stake in shares of Eli Lilly and Company during the fourth quarter worth approximately $29,000. Core Wealth Advisors Inc. grew its holdings in shares of Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after buying an additional 32 shares in the last quarter. Lynx Investment Advisory acquired a new stake in shares of Eli Lilly and Company in the second quarter valued at about $32,000. Frank Rimerman Advisors LLC purchased a new position in shares of Eli Lilly and Company in the fourth quarter worth about $37,000. Finally, St. Johns Investment Management Company LLC boosted its position in Eli Lilly and Company by 123.3% during the fourth quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock worth $39,000 after acquiring an additional 37 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

LLY stock opened at $960.02 on Tuesday. The business’s fifty day moving average price is $894.03 and its 200 day moving average price is $823.97. Eli Lilly and Company has a 12-month low of $516.57 and a 12-month high of $972.53. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $912.41 billion, a PE ratio of 141.39, a P/E/G ratio of 2.91 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $2.64 by $1.28. The company had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. On average, sell-side analysts anticipate that Eli Lilly and Company will post 16.51 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be given 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 0.54%. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total value of $197,362,200.00. Following the sale, the insider now directly owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 897,283 shares of company stock worth $805,651,743 over the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Argus lifted their price objective 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. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, August 19th. Barclays lifted their price target on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $1,106.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $961.76.

Eli Lilly and Company 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.