Eli Lilly and Company (NYSE:LLY) is Rice Partnership LLC’s 6th Largest Position

Rice Partnership LLC increased its stake in Eli Lilly and Company (NYSE:LLY) by 0.4% during the second quarter, Holdings Channel.com reports. The firm owned 23,439 shares of the company’s stock after purchasing an additional 104 shares during the quarter. Eli Lilly and Company accounts for approximately 4.6% of Rice Partnership LLC’s holdings, making the stock its 6th largest position. Rice Partnership LLC’s holdings in Eli Lilly and Company were worth $21,221,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of LLY. Tidemark LLC bought a new stake in shares of Eli Lilly and Company during the 4th quarter valued at $29,000. Core Wealth Advisors Inc. increased its stake in Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after buying an additional 32 shares in the last quarter. Lynx Investment Advisory bought a new stake in Eli Lilly and Company during the second quarter valued at about $32,000. Frank Rimerman Advisors LLC purchased a new position in shares of Eli Lilly and Company in the fourth quarter valued at about $37,000. Finally, St. Johns Investment Management Company LLC boosted its stake in shares of 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 acquiring an additional 37 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the sale, 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 through this hyperlink. Over the last 90 days, insiders have sold 897,283 shares of company stock valued at $805,651,743. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LLY has been the topic of several recent analyst reports. Truist Financial reissued a “buy” rating and set a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Guggenheim lifted their price objective on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. boosted their target price on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Bank of America raised their target price on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Berenberg Bank lifted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Two research 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 presently has a consensus rating of “Moderate Buy” and an average target price of $961.76.

Eli Lilly and Company Trading Up 2.1 %

LLY traded up $19.82 during trading on Monday, reaching $960.02. The company had a trading volume of 2,555,000 shares, compared to its average volume of 3,070,284. The stock has a market cap of $912.41 billion, a P/E ratio of 141.39, a PEG ratio of 2.91 and a beta of 0.41. The business has a 50 day simple moving average of $892.64 and a 200-day simple moving average of $822.54. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $972.53. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last announced its 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 net margin of 18.86% and a return on equity of 67.52%. The business had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. On average, equities analysts anticipate that Eli Lilly and Company will post 16.51 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.54%. 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.