Vance Wealth Inc. Has $407,000 Position in Eli Lilly and Company (NYSE:LLY)

Vance Wealth Inc. grew its position in Eli Lilly and Company (NYSE:LLY) by 12.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 450 shares of the company’s stock after acquiring an additional 51 shares during the period. Vance Wealth Inc.’s holdings in Eli Lilly and Company were worth $407,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Twelve Points Wealth Management LLC boosted its position in Eli Lilly and Company by 1.4% during the second quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock worth $734,000 after purchasing an additional 11 shares during the period. Verum Partners LLC increased its stake in shares of Eli Lilly and Company by 1.5% in the second quarter. Verum Partners LLC now owns 731 shares of the company’s stock valued at $662,000 after buying an additional 11 shares during the period. Acorn Creek Capital LLC grew its position in shares of Eli Lilly and Company by 1.3% in the 2nd quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock valued at $840,000 after buying an additional 12 shares during the last quarter. Thompson Davis & CO. Inc. lifted its holdings in Eli Lilly and Company by 0.7% in the second quarter. Thompson Davis & CO. Inc. now owns 1,687 shares of the company’s stock valued at $1,527,000 after buying an additional 12 shares during the period. Finally, Versant Capital Management Inc grew its holdings in Eli Lilly and Company by 1.8% in the first quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock worth $573,000 after purchasing an additional 13 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction that occurred on Wednesday, July 10th. The shares were 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 in the company, valued at approximately $91,109,731,514.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 876,900 shares of company stock worth $788,605,032 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on LLY shares. Wells Fargo & Company raised their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Guggenheim upped their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Bank of America upped their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $725.00 to $1,025.00 in a report on Monday, August 12th. Finally, Truist Financial reaffirmed a “buy” rating and set a $1,000.00 price target (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $961.76.

Eli Lilly and Company Stock Performance

LLY stock opened at $946.31 on Thursday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. Eli Lilly and Company has a 1-year low of $516.57 and a 1-year high of $972.53. The business has a 50-day moving average price of $895.96 and a 200 day moving average price of $826.05. The company has a market capitalization of $899.38 billion, a P/E ratio of 139.37, a PEG ratio of 2.91 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. As a group, equities research analysts forecast 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. Investors of record on Thursday, August 15th will be paid 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 yield of 0.55%. Eli Lilly and Company’s dividend payout ratio (DPR) is 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.