Optimist Retirement Group LLC Sells 418 Shares of Eli Lilly and Company (NYSE:LLY)

Optimist Retirement Group LLC lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 13.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,633 shares of the company’s stock after selling 418 shares during the quarter. Eli Lilly and Company comprises approximately 1.3% of Optimist Retirement Group LLC’s holdings, making the stock its 16th largest position. Optimist Retirement Group LLC’s holdings in Eli Lilly and Company were worth $2,384,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in LLY. AMJ Financial Wealth Management bought a new stake in shares of Eli Lilly and Company during the 4th quarter worth $201,000. Aveo Capital Partners LLC lifted its position in Eli Lilly and Company by 8.2% during the 4th quarter. Aveo Capital Partners LLC now owns 2,020 shares of the company’s stock worth $1,178,000 after acquiring an additional 153 shares during the last quarter. Gryphon Financial Partners LLC boosted its holdings in Eli Lilly and Company by 19.4% during the fourth quarter. Gryphon Financial Partners LLC now owns 2,324 shares of the company’s stock valued at $1,355,000 after acquiring an additional 377 shares during the period. Hillsdale Investment Management Inc. grew its position in shares of Eli Lilly and Company by 11.0% in the fourth quarter. Hillsdale Investment Management Inc. now owns 804 shares of the company’s stock valued at $469,000 after purchasing an additional 80 shares during the last quarter. Finally, Sachetta LLC bought a new position in shares of Eli Lilly and Company in the fourth quarter worth about $99,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 0.1 %

NYSE LLY opened at $905.10 on Thursday. Eli Lilly and Company has a 1-year low of $516.57 and a 1-year high of $972.53. The company has a market capitalization of $860.21 billion, a price-to-earnings ratio of 133.30, a PEG ratio of 2.79 and a beta of 0.42. The stock’s 50 day moving average is $896.00 and its two-hundred day moving average is $836.45. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, beating the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The business had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. Equities analysts forecast that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LLY. Wells Fargo & Company increased their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Truist Financial restated a “buy” rating and issued a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Berenberg Bank upped their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. raised their price target on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Finally, Citigroup initiated coverage on shares of Eli Lilly and Company in a research report on Friday, September 13th. They set a “buy” rating and a $1,060.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $977.35.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 17,229 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $902.38, for a total value of $15,547,105.02. Following the transaction, the insider now directly owns 97,556,910 shares in the company, valued at $88,033,404,445.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders sold 442,229 shares of company stock worth $410,002,456 in the last quarter. 0.13% of the stock is owned by corporate insiders.

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.