Eli Lilly and Company (NYSE:LLY) Shares Sold by Elevatus Welath Management

Elevatus Welath Management decreased its position in Eli Lilly and Company (NYSE:LLY) by 59.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 260 shares of the company’s stock after selling 384 shares during the quarter. Elevatus Welath Management’s holdings in Eli Lilly and Company were worth $215,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in LLY. Brighton Jones LLC lifted its holdings in shares of Eli Lilly and Company by 22.0% in the 4th quarter. Brighton Jones LLC now owns 9,597 shares of the company’s stock worth $7,409,000 after purchasing an additional 1,730 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in Eli Lilly and Company by 2.8% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company’s stock valued at $1,136,000 after acquiring an additional 40 shares in the last quarter. Orion Capital Management LLC raised its stake in Eli Lilly and Company by 2.5% during the 4th quarter. Orion Capital Management LLC now owns 1,610 shares of the company’s stock valued at $1,243,000 after acquiring an additional 40 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in Eli Lilly and Company by 4.1% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 64,758 shares of the company’s stock valued at $49,993,000 after acquiring an additional 2,568 shares in the last quarter. Finally, Breed s Hill Capital LLC raised its stake in Eli Lilly and Company by 212.0% during the 4th quarter. Breed s Hill Capital LLC now owns 1,426 shares of the company’s stock valued at $1,101,000 after acquiring an additional 969 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Insider Activity

In related news, Director Gabrielle Sulzberger purchased 117 shares of Eli Lilly and Company stock in a transaction on Tuesday, August 12th. The stock was bought at an average price of $641.18 per share, with a total value of $75,018.06. Following the completion of the transaction, the director directly owned 2,703 shares of the company’s stock, valued at approximately $1,733,109.54. This represents a 4.52% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J Erik Fyrwald purchased 1,565 shares of Eli Lilly and Company stock in a transaction on Tuesday, August 12th. The stock was bought at an average cost of $642.33 per share, with a total value of $1,005,246.45. Following the transaction, the director directly owned 74,578 shares of the company’s stock, valued at approximately $47,903,686.74. The trade was a 2.14% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 4,514 shares of company stock valued at $2,894,841. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on LLY shares. Cantor Fitzgerald cut their target price on Eli Lilly and Company from $975.00 to $825.00 and set an “overweight” rating on the stock in a research note on Wednesday. Erste Group Bank downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. Leerink Partners reissued a “market perform” rating and issued a $715.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, August 7th. UBS Group dropped their price objective on Eli Lilly and Company from $1,050.00 to $895.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $1,135.00 price objective (up previously from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $964.88.

Eli Lilly and Company Price Performance

LLY opened at $701.51 on Friday. The stock has a market cap of $663.95 billion, a price-to-earnings ratio of 45.85, a PEG ratio of 0.95 and a beta of 0.44. Eli Lilly and Company has a 1 year low of $623.78 and a 1 year high of $972.53. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The stock has a fifty day moving average price of $764.55 and a 200 day moving average price of $794.69.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.59 by $0.72. The firm had revenue of $15.56 billion during the quarter, compared to analysts’ expectations of $14.40 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%. The business’s revenue for the quarter was up 37.6% on a year-over-year basis. During the same quarter last year, the firm earned $3.92 earnings per share. Analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a yield of 0.9%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 39.22%.

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.