Oak Harvest Investment Services Reduces Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Oak Harvest Investment Services lowered its position in shares of Eli Lilly and Company (NYSE:LLY) by 10.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,151 shares of the company’s stock after selling 504 shares during the period. Oak Harvest Investment Services’ holdings in Eli Lilly and Company were worth $3,229,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Lipe & Dalton acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at $26,000. Tidemark LLC acquired a new position in shares of Eli Lilly and Company during the fourth quarter worth about $29,000. Core Wealth Advisors Inc. increased 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 acquiring an additional 32 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Eli Lilly and Company during the fourth quarter valued at approximately $37,000. Finally, St. Johns Investment Management Company LLC lifted its position in Eli Lilly and Company by 123.3% in the fourth quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock worth $39,000 after purchasing an additional 37 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analysts Set New Price Targets

LLY has been the topic of several research analyst reports. Citigroup raised their price target on Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Bank of America restated a “buy” rating and set a $1,000.00 target price on shares of Eli Lilly and Company in a research report on Monday, June 24th. Argus raised their price target on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research report on Monday. Finally, Truist Financial reaffirmed a “buy” rating and set a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $812.72.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 92,563 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $809.21, for a total value of $74,902,905.23. Following the transaction, the insider now owns 98,556,247 shares in the company, valued at approximately $79,752,700,634.87. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the sale, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Lilly Endowment Inc sold 92,563 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the sale, the insider now directly owns 98,556,247 shares in the company, valued at approximately $79,752,700,634.87. The disclosure for this sale can be found here. In the last quarter, insiders have sold 858,742 shares of company stock worth $735,573,781. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Stock Down 0.9 %

Shares of LLY traded down $8.61 during mid-day trading on Thursday, hitting $898.10. 3,078,367 shares of the company traded hands, compared to its average volume of 2,667,176. Eli Lilly and Company has a 1-year low of $434.34 and a 1-year high of $918.50. The business has a 50 day moving average of $824.60 and a 200 day moving average of $746.69. 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 company has a market capitalization of $853.56 billion, a PE ratio of 132.27, a price-to-earnings-growth ratio of 1.98 and a beta of 0.41.

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

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.58%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Eli Lilly and Company 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.