Hardin Capital Partners LLC Invests $1.16 Million in Eli Lilly and Company (NYSE:LLY)

Hardin Capital Partners LLC purchased a new stake in Eli Lilly and Company (NYSE:LLY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,286 shares of the company’s stock, valued at approximately $1,164,000. Eli Lilly and Company comprises about 0.8% of Hardin Capital Partners LLC’s investment portfolio, making the stock its 17th biggest position.

A number of other institutional investors have also recently added to or reduced their stakes in LLY. Independent Advisor Alliance raised its holdings in shares of Eli Lilly and Company by 1.7% during the 4th quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock worth $18,810,000 after acquiring an additional 544 shares during the period. Capital Planning LLC acquired a new position in Eli Lilly and Company in the 1st quarter valued at about $262,000. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of Eli Lilly and Company in the 1st quarter valued at approximately $6,916,000. M&G Plc acquired a new stake in shares of Eli Lilly and Company during the 1st quarter worth approximately $8,896,000. Finally, IPG Investment Advisors LLC purchased a new stake in shares of Eli Lilly and Company during the 4th quarter valued at approximately $351,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 1.5 %

NYSE:LLY opened at $935.09 on Friday. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $972.53. The stock has a market cap of $888.74 billion, a P/E ratio of 137.72, a P/E/G ratio of 2.79 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The stock has a 50-day simple moving average of $896.94 and a 200-day simple moving average of $831.83.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. As a group, analysts anticipate that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders 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 is presently 76.58%.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 9,671 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $902.67, for a total value of $8,729,721.57. Following the completion of the sale, the insider now directly owns 97,574,139 shares of the company’s stock, valued at $88,077,248,051.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 646,878 shares of company stock valued at $591,465,138. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

LLY has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating and increased their price objective for the stock from $725.00 to $1,025.00 in a research report on Monday, August 12th. JPMorgan Chase & Co. boosted their price objective on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. BMO Capital Markets increased their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Guggenheim boosted their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $961.76.

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.