Eli Lilly and Company (NYSE:LLY) Stock Holdings Reduced by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC reduced its stake in Eli Lilly and Company (NYSE:LLY) by 11.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 17,977 shares of the company’s stock after selling 2,325 shares during the period. Eli Lilly and Company makes up 1.7% of SeaCrest Wealth Management LLC’s investment portfolio, making the stock its 7th largest position. SeaCrest Wealth Management LLC’s holdings in Eli Lilly and Company were worth $13,986,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Saxon Interests Inc. purchased a new position in shares of Eli Lilly and Company during the first quarter worth approximately $261,000. Naviter Wealth LLC grew its position in shares of Eli Lilly and Company by 18.3% during the first quarter. Naviter Wealth LLC now owns 4,318 shares of the company’s stock worth $3,359,000 after acquiring an additional 668 shares during the last quarter. Financial Security Advisor Inc. grew its position in shares of Eli Lilly and Company by 1.4% during the first quarter. Financial Security Advisor Inc. now owns 4,194 shares of the company’s stock worth $3,263,000 after acquiring an additional 58 shares during the last quarter. State of Michigan Retirement System grew its position in shares of Eli Lilly and Company by 12.6% during the first quarter. State of Michigan Retirement System now owns 269,704 shares of the company’s stock worth $209,819,000 after acquiring an additional 30,200 shares during the last quarter. Finally, Dash Acquisitions Inc. grew its position in shares of Eli Lilly and Company by 12.3% during the first quarter. Dash Acquisitions Inc. now owns 373 shares of the company’s stock worth $280,000 after acquiring an additional 41 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY traded down $7.66 during midday trading on Tuesday, hitting $906.71. 4,526,567 shares of the stock were exchanged, compared to its average volume of 2,947,025. The stock has a market cap of $861.75 billion, a P/E ratio of 133.54, a PEG ratio of 1.97 and a beta of 0.41. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. Eli Lilly and Company has a twelve month low of $434.34 and a twelve month high of $916.83. The company has a 50 day moving average price of $818.06 and a 200-day moving average price of $743.26.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 56.98% and a net margin of 17.08%. The business’s revenue was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.62 EPS. On average, research analysts forecast that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Jefferies Financial Group increased their price target on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Truist Financial reaffirmed a “buy” rating and set a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Argus increased their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a report on Monday. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $812.72.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 194,978 shares of Eli Lilly and Company stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $885.91, for a total transaction of $172,732,959.98. Following the completion of the sale, the insider now owns 97,583,810 shares in the company, valued at approximately $86,450,473,117.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the sale, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $172,732,959.98. Following the completion of the sale, the insider now 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. In the last quarter, insiders sold 849,894 shares of company stock worth $727,475,118. 0.13% of the stock is owned by corporate insiders.

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.