Midland Wealth Advisors LLC Decreases Position in Eli Lilly and Company (NYSE:LLY)

Midland Wealth Advisors LLC lowered its position in shares of Eli Lilly and Company (NYSE:LLY) by 0.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,756 shares of the company’s stock after selling 26 shares during the period. Midland Wealth Advisors LLC’s holdings in Eli Lilly and Company were worth $3,401,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in LLY. Tidemark LLC bought a new position in Eli Lilly and Company during the 4th quarter valued at about $29,000. Core Wealth Advisors Inc. raised its holdings 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 valued at $29,000 after purchasing an additional 32 shares during the last quarter. Lynx Investment Advisory bought a new position in Eli Lilly and Company during the second quarter valued at approximately $32,000. Frank Rimerman Advisors LLC bought a new stake in Eli Lilly and Company in the 4th quarter worth approximately $37,000. Finally, St. Johns Investment Management Company LLC lifted its holdings in shares of Eli Lilly and Company by 123.3% during the 4th quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock valued at $39,000 after buying an additional 37 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Down 0.4 %

NYSE LLY opened at $956.53 on Wednesday. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $972.53. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The stock has a market cap of $909.09 billion, a PE ratio of 140.87, a P/E/G ratio of 2.91 and a beta of 0.41. The stock’s 50 day moving average is $895.06 and its 200 day moving average is $825.20.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping 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 firm had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Research analysts predict that Eli Lilly and Company will post 16.51 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.54%. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 139,490 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $852.29, for a total transaction of $118,885,932.10. Following the completion of the transaction, the insider now directly owns 97,869,320 shares of the company’s stock, valued at $83,413,042,742.80. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders have sold 876,900 shares of company stock valued at $788,605,032. 0.13% of the stock is currently owned by insiders.

Analyst Ratings Changes

LLY has been the subject of a number of research reports. Jefferies Financial Group upped their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Barclays upped their price target on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Berenberg Bank raised their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. BMO Capital Markets upped their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Finally, Argus lifted their price target on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Two 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 company has an average rating of “Moderate Buy” and a consensus price target of $961.76.

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.