Axxcess Wealth Management LLC Cuts Stock Position in Eli Lilly and Company (NYSE:LLY)

Axxcess Wealth Management LLC trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY) by 11.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,864 shares of the company’s stock after selling 2,794 shares during the period. Axxcess Wealth Management LLC’s holdings in Eli Lilly and Company were worth $19,796,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of LLY. Fairway Wealth LLC purchased a new stake in shares of Eli Lilly and Company during the second quarter worth approximately $65,000. Abbot Financial Management Inc. acquired a new stake in Eli Lilly and Company during the 2nd quarter worth $206,000. Yarger Wealth Strategies LLC raised its position in shares of Eli Lilly and Company by 20.3% in the second quarter. Yarger Wealth Strategies LLC now owns 332 shares of the company’s stock valued at $301,000 after buying an additional 56 shares during the last quarter. Frisch Financial Group Inc. raised its position in shares of Eli Lilly and Company by 12.1% in the second quarter. Frisch Financial Group Inc. now owns 2,423 shares of the company’s stock valued at $2,194,000 after buying an additional 262 shares during the last quarter. Finally, Clearstead Trust LLC raised its position in shares of Eli Lilly and Company by 3.7% in the second quarter. Clearstead Trust LLC now owns 5,088 shares of the company’s stock valued at $4,607,000 after buying an additional 183 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value of $197,362,200.00. Following the completion of the transaction, the insider now owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 451,900 shares of company stock worth $418,732,178 in the last ninety days. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on LLY. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Wells Fargo & Company lifted their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a report on Monday. Citigroup began coverage on Eli Lilly and Company in a research note on Friday. They issued a “buy” rating and a $1,060.00 target price for the company. Finally, BMO Capital Markets raised their price objective 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 report on Friday, August 9th. Three research 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $977.35.

Eli Lilly and Company Trading Up 0.0 %

LLY opened at $924.05 on Tuesday. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $972.53. 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 business has a fifty day simple moving average of $897.24 and a 200-day simple moving average of $835.09. The firm has a market cap of $878.22 billion, a P/E ratio of 136.09, a P/E/G ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $1.28. The firm had revenue of $11.30 billion for the quarter, compared to analyst estimates 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, equities analysts expect that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

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

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.