Proactive Wealth Strategies LLC Makes New Investment in Eli Lilly and Company (NYSE:LLY)

Proactive Wealth Strategies LLC acquired a new position in shares of Eli Lilly and Company (NYSE:LLY) during the third quarter, HoldingsChannel reports. The institutional investor acquired 442 shares of the company’s stock, valued at approximately $392,000.

Other hedge funds have also modified their holdings of the company. Lynx Investment Advisory purchased a new position in shares of Eli Lilly and Company during the second quarter worth approximately $32,000. LGT Financial Advisors LLC purchased a new position in shares of Eli Lilly and Company during the second quarter worth approximately $36,000. Morton Brown Family Wealth LLC grew its position in shares of Eli Lilly and Company by 45.5% during the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after acquiring an additional 15 shares during the last quarter. Cedar Mountain Advisors LLC grew its position in shares of Eli Lilly and Company by 53.3% during the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after acquiring an additional 16 shares during the last quarter. Finally, Unique Wealth Strategies LLC purchased a new position in shares of Eli Lilly and Company during the second quarter worth approximately $45,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Up 0.2 %

NYSE:LLY opened at $833.29 on Tuesday. The company has a market capitalization of $791.06 billion, a PE ratio of 90.09, a price-to-earnings-growth ratio of 3.15 and a beta of 0.43. The company has a quick ratio of 0.97, a current ratio of 1.27 and a debt-to-equity ratio of 2.03. Eli Lilly and Company has a 52-week low of $561.65 and a 52-week high of $972.53. The stock has a fifty day simple moving average of $893.78 and a 200-day simple moving average of $870.11.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.34). The firm had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. During the same period last year, the firm earned $0.10 EPS. The company’s quarterly revenue was up 20.4% compared to the same quarter last year. On average, equities research analysts expect that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.62%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s payout ratio is 56.22%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on LLY shares. Truist Financial raised their target price on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. 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. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,008.41.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares of the company’s stock, valued at approximately $4,402,522.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

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.