RIA Advisory Group LLC Takes $315,000 Position in Eli Lilly and Company (NYSE:LLY)

RIA Advisory Group LLC bought a new position in shares of Eli Lilly and Company (NYSE:LLY) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 405 shares of the company’s stock, valued at approximately $315,000.

A number of other hedge funds have also made changes to their positions in LLY. Resources Management Corp CT ADV increased its position in shares of Eli Lilly and Company by 15.1% during the 3rd quarter. Resources Management Corp CT ADV now owns 1,336 shares of the company’s stock worth $718,000 after purchasing an additional 175 shares in the last quarter. Spartan Planning & Wealth Management bought a new stake in Eli Lilly and Company during the 3rd quarter worth about $395,000. Garde Capital Inc. grew its holdings in Eli Lilly and Company by 2.3% during the 3rd quarter. Garde Capital Inc. now owns 877 shares of the company’s stock worth $471,000 after acquiring an additional 20 shares during the last quarter. Diversified Trust Co grew its holdings in Eli Lilly and Company by 5.4% during the 3rd quarter. Diversified Trust Co now owns 12,953 shares of the company’s stock worth $6,957,000 after acquiring an additional 669 shares during the last quarter. Finally, Savoie Capital LLC bought a new stake in Eli Lilly and Company during the 3rd quarter worth about $3,715,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 194,978 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $885.91, for a total value of $172,732,959.98. Following the sale, the insider now directly owns 97,583,810 shares in the company, valued at $86,450,473,117.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Lilly Endowment Inc sold 194,978 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $885.91, for a total value of $172,732,959.98. Following the sale, the insider now directly owns 97,583,810 shares in the company, valued at $86,450,473,117.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Johna Norton sold 7,056 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the completion of the sale, the executive vice president now owns 25,428 shares in the company, valued at $20,835,194.64. The disclosure for this sale can be found here. Insiders have sold 1,004,704 shares of company stock worth $869,479,116 over the last ninety days. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Up 0.8 %

LLY stock traded up $7.48 during mid-day trading on Wednesday, hitting $939.98. 2,681,223 shares of the company were exchanged, compared to its average volume of 2,937,107. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The firm has a market cap of $893.37 billion, a P/E ratio of 138.41, a P/E/G ratio of 2.00 and a beta of 0.41. The firm’s 50 day simple moving average is $838.34 and its 200 day simple moving average is $757.52. Eli Lilly and Company has a 1-year low of $434.34 and a 1-year high of $945.69.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Monday, May 6th. The company reported $2.58 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $8.94 billion. During the same period last year, the company posted $1.62 EPS. The business’s quarterly revenue was up 26.0% on a year-over-year basis. On average, sell-side analysts predict that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders 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 dividend yield of 0.55%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Wall Street Analyst Weigh In

A number of brokerages have commented on LLY. The Goldman Sachs Group increased their price objective on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Argus raised their target price on shares of 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, July 1st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,001.00 target price on shares of Eli Lilly and Company in a research note on Wednesday, July 3rd. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $816.78.

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.