Balanced Wealth Group LLC Sells 176 Shares of Eli Lilly and Company (NYSE:LLY)

Balanced Wealth Group LLC decreased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 24.7% in the second quarter, Holdings Channel.com reports. The fund owned 536 shares of the company’s stock after selling 176 shares during the period. Balanced Wealth Group LLC’s holdings in Eli Lilly and Company were worth $490,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Tidemark LLC purchased a new position in shares of Eli Lilly and Company during the fourth quarter valued at about $29,000. Core Wealth Advisors Inc. boosted its stake in Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 32 shares during the last quarter. Lynx Investment Advisory purchased a new position in Eli Lilly and Company during the 2nd quarter valued at approximately $32,000. LGT Financial Advisors LLC purchased a new position in Eli Lilly and Company during the 2nd quarter valued at approximately $36,000. Finally, Frank Rimerman Advisors LLC bought a new stake in Eli Lilly and Company in the 4th quarter worth approximately $37,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 1,441 shares of the company’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $915.02, for a total value of $1,318,543.82. Following the completion of the sale, the insider now directly owns 97,367,369 shares in the company, valued at approximately $89,093,089,982.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 442,229 shares of company stock worth $410,002,456 in the last ninety days. 0.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

LLY has been the subject of a number of recent research reports. Guggenheim raised their target price on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. Berenberg Bank lifted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Citigroup assumed 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 target price on the stock. BMO Capital Markets lifted their price target on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Finally, Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $977.35.

Eli Lilly and Company Stock Performance

LLY stock opened at $921.72 on Friday. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $972.53. The firm has a market cap of $876.01 billion, a price-to-earnings ratio of 135.75, a PEG ratio of 2.79 and a beta of 0.42. The business’s fifty day simple moving average is $895.06 and its two-hundred day simple moving average is $837.89. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74.

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

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were paid a $1.30 dividend. The ex-dividend date was Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.56%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

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.