Eli Lilly and Company (NYSE:LLY) Holdings Boosted by L & S Advisors Inc

L & S Advisors Inc lifted its position in shares of Eli Lilly and Company (NYSE:LLY) by 5.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,116 shares of the company’s stock after purchasing an additional 934 shares during the period. Eli Lilly and Company comprises about 2.0% of L & S Advisors Inc’s holdings, making the stock its 8th largest position. L & S Advisors Inc’s holdings in Eli Lilly and Company were worth $17,307,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in LLY. Fairway Wealth LLC purchased a new position in shares of Eli Lilly and Company during the second quarter worth about $65,000. Abbot Financial Management Inc. purchased a new stake in shares of Eli Lilly and Company during the second quarter worth approximately $206,000. Yarger Wealth Strategies LLC lifted its holdings in shares of Eli Lilly and Company by 20.3% during the second quarter. Yarger Wealth Strategies LLC now owns 332 shares of the company’s stock worth $301,000 after purchasing an additional 56 shares during the period. Frisch Financial Group Inc. grew its position in Eli Lilly and Company by 12.1% in the 2nd 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 increased its stake in Eli Lilly and Company by 3.7% in the 2nd 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 period. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LLY has been the subject of several recent analyst reports. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Guggenheim lifted their price objective on 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 increased their target price on 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. JPMorgan Chase & Co. raised their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday. Finally, Barclays raised their target price on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average target price of $977.35.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $924.05 on Tuesday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The firm has a market cap of $878.22 billion, a PE ratio of 136.09, a P/E/G ratio of 2.79 and a beta of 0.42. The firm has a 50 day simple moving average of $897.24 and a 200-day simple moving average of $835.09. Eli Lilly and Company has a 1-year low of $516.57 and a 1-year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. On average, equities analysts expect that Eli Lilly and Company will post 16.49 EPS for the current year.

Eli Lilly and Company Announces Dividend

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

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total value of $197,362,200.00. Following the transaction, the insider now directly owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last three months, insiders have sold 451,900 shares of company stock valued at $418,732,178. Insiders own 0.13% of the company’s stock.

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.