Naviter Wealth LLC Raises Position in Eli Lilly and Company (NYSE:LLY)

Naviter Wealth LLC grew its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 18.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,318 shares of the company’s stock after purchasing an additional 668 shares during the quarter. Naviter Wealth LLC’s holdings in Eli Lilly and Company were worth $3,359,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Eli Lilly and Company by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock worth $37,908,273,000 after buying an additional 659,838 shares during the last quarter. Capital World Investors increased its holdings in shares of Eli Lilly and Company by 0.3% during the 4th quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock worth $15,709,466,000 after buying an additional 89,720 shares during the last quarter. Morgan Stanley increased its holdings in shares of Eli Lilly and Company by 0.7% during the 3rd quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock worth $6,738,605,000 after buying an additional 83,915 shares during the last quarter. Norges Bank acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth $5,992,890,000. Finally, Capital Research Global Investors increased its holdings in shares of Eli Lilly and Company by 4.5% during the 4th quarter. Capital Research Global Investors now owns 7,577,592 shares of the company’s stock worth $4,417,120,000 after buying an additional 325,342 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 58,749 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $915.26, for a total transaction of $53,770,609.74. Following the transaction, the insider now owns 97,308,620 shares in the company, valued at approximately $89,062,687,541.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Lilly Endowment Inc sold 58,749 shares of Eli Lilly and Company stock in a transaction on Monday, July 1st. The shares were sold at an average price of $915.26, for a total value of $53,770,609.74. Following the transaction, the insider now owns 97,308,620 shares in the company, valued at approximately $89,062,687,541.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Johna Norton sold 7,056 shares of Eli Lilly and Company stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the completion of the transaction, the executive vice president now owns 25,428 shares in the company, valued at approximately $20,835,194.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 849,894 shares of company stock worth $727,475,118. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Stock Down 0.8 %

Shares of NYSE:LLY traded down $7.66 during trading on Tuesday, reaching $906.71. 4,526,567 shares of the company traded hands, compared to its average volume of 2,947,025. The firm has a fifty day simple moving average of $818.06 and a 200 day simple moving average of $743.26. The firm has a market cap of $861.75 billion, a P/E ratio of 133.54, a price-to-earnings-growth ratio of 1.97 and a beta of 0.41. Eli Lilly and Company has a 1-year low of $434.34 and a 1-year high of $916.83. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. The company had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter last year, the business posted $1.62 EPS. Analysts anticipate that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

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

Analyst Upgrades and Downgrades

LLY has been the subject of several recent research reports. TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. BMO Capital Markets increased their price target on Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Truist Financial reissued a “buy” rating and issued a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Finally, The Goldman Sachs Group upped their price objective on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $812.72.

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.