Seven Mile Advisory Grows Position in Eli Lilly and Company (NYSE:LLY)

Seven Mile Advisory raised its position in shares of Eli Lilly and Company (NYSE:LLY) by 4.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,136 shares of the company’s stock after acquiring an additional 44 shares during the period. Eli Lilly and Company makes up approximately 0.8% of Seven Mile Advisory’s holdings, making the stock its 23rd biggest holding. Seven Mile Advisory’s holdings in Eli Lilly and Company were worth $1,028,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

LLY has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and lifted their price target for the stock from $725.00 to $1,025.00 in a research note on Monday, August 12th. Berenberg Bank upped their target price on 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. Wells Fargo & Company raised their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Truist Financial reaffirmed 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 report on Tuesday, June 25th. Finally, Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research report 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’s stock. Based on data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus price target of $977.35.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY opened at $923.71 on Friday. The firm has a 50 day moving average of $897.12 and a 200 day moving average of $833.36. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $877.92 billion, a price-to-earnings ratio of 136.04, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $972.53.

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. The business had revenue of $11.30 billion for 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 predict that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

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

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 9,671 shares of Eli Lilly and Company stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $902.67, for a total value of $8,729,721.57. Following the transaction, the insider now owns 97,574,139 shares of the company’s stock, valued at approximately $88,077,248,051.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 646,878 shares of company stock worth $591,465,138. Corporate insiders own 0.13% of the company’s stock.

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.