US Asset Management LLC Purchases 502 Shares of Eli Lilly and Company (NYSE:LLY)

US Asset Management LLC raised its position in Eli Lilly and Company (NYSE:LLY) by 31.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,094 shares of the company’s stock after buying an additional 502 shares during the period. Eli Lilly and Company accounts for about 1.5% of US Asset Management LLC’s investment portfolio, making the stock its 10th biggest position. US Asset Management LLC’s holdings in Eli Lilly and Company were worth $1,629,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LLY. Lipe & Dalton acquired a new position in shares of Eli Lilly and Company during the fourth quarter worth approximately $26,000. Tidemark LLC acquired a new position in shares of Eli Lilly and Company during the fourth quarter worth approximately $29,000. Core Wealth Advisors Inc. lifted its position in shares of Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 32 shares in the last quarter. Optiver Holding B.V. acquired a new position in shares of Eli Lilly and Company during the third quarter worth approximately $36,000. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of Eli Lilly and Company during the fourth quarter worth approximately $37,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 194,978 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 97,583,810 shares of the company’s stock, valued at $86,450,473,117.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Johna Norton sold 7,056 shares of Eli Lilly and Company stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the transaction, the executive vice president now owns 25,428 shares of the company’s stock, valued at approximately $20,835,194.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 194,978 shares of Eli Lilly and Company stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $885.91, for a total transaction of $172,732,959.98. Following the completion of the transaction, the insider now directly owns 97,583,810 shares of the company’s stock, valued at approximately $86,450,473,117.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 762,804 shares of company stock valued at $648,109,138. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Truist Financial boosted their price target on shares of Eli Lilly and Company from $850.00 to $892.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group boosted their price target on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. TheStreet raised shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Finally, Jefferies Financial Group boosted their price target on shares of Eli Lilly and Company from $925.00 to $957.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $803.50.

Eli Lilly and Company Stock Down 0.6 %

Shares of NYSE:LLY traded down $5.48 during midday trading on Friday, reaching $880.51. 839,611 shares of the company were exchanged, compared to its average volume of 2,927,094. Eli Lilly and Company has a fifty-two week low of $434.34 and a fifty-two week high of $905.45. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The stock has a fifty day simple moving average of $795.93 and a two-hundred day simple moving average of $725.85. The firm has a market cap of $836.85 billion, a PE ratio of 130.53, a P/E/G ratio of 1.94 and a beta of 0.36.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. The business had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The firm’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.62 earnings per share. As a group, sell-side analysts forecast that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Wednesday, May 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

About Eli Lilly and Company

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.