Worth Asset Management LLC Buys 236 Shares of Eli Lilly and Company (NYSE:LLY)

Worth Asset Management LLC lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 198.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 355 shares of the company’s stock after purchasing an additional 236 shares during the period. Worth Asset Management LLC’s holdings in Eli Lilly and Company were worth $166,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Silicon Valley Capital Partners bought a new stake in shares of Eli Lilly and Company in the first quarter valued at $25,000. Bogart Wealth LLC increased its holdings in Eli Lilly and Company by 193.3% in the 1st quarter. Bogart Wealth LLC now owns 88 shares of the company’s stock worth $30,000 after acquiring an additional 58 shares during the last quarter. Laffer Tengler Investments bought a new stake in Eli Lilly and Company in the 1st quarter valued at about $33,000. Raleigh Capital Management Inc. raised its stake in Eli Lilly and Company by 156.4% in the 1st quarter. Raleigh Capital Management Inc. now owns 100 shares of the company’s stock valued at $34,000 after acquiring an additional 61 shares during the period. Finally, Tanglewood Legacy Advisors LLC purchased a new stake in Eli Lilly and Company during the fourth quarter valued at about $37,000. Institutional investors own 81.38% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock opened at $575.50 on Monday. The business’s 50-day moving average price is $512.56 and its 200-day moving average price is $439.28. The firm has a market capitalization of $546.32 billion, a PE ratio of 80.06, a price-to-earnings-growth ratio of 2.47 and a beta of 0.32. Eli Lilly and Company has a 12 month low of $296.32 and a 12 month high of $601.84. The company has a current ratio of 1.13, a quick ratio of 0.87 and a debt-to-equity ratio of 1.63.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Tuesday, August 8th. The company reported $2.11 EPS for the quarter, beating the consensus estimate of $1.98 by $0.13. The company had revenue of $8.31 billion for the quarter, compared to analyst estimates of $7.58 billion. Eli Lilly and Company had a net margin of 22.01% and a return on equity of 65.00%. The firm’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.25 EPS. Sell-side analysts forecast that Eli Lilly and Company will post 9.84 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Tuesday, August 15th were given a dividend of $1.13 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $4.52 annualized dividend and a yield of 0.79%. Eli Lilly and Company’s payout ratio is 62.87%.

Insiders Place Their Bets

In related news, major shareholder Lilly Endowment Inc sold 34,156 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $454.08, for a total transaction of $15,509,556.48. Following the completion of the sale, the insider now directly owns 101,387,286 shares in the company, valued at approximately $46,037,938,826.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Alonzo Weems sold 1,148 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $590.98, for a total transaction of $678,445.04. Following the transaction, the executive vice president now directly owns 7,760 shares of the company’s stock, valued at $4,586,004.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Lilly Endowment Inc sold 34,156 shares of the firm’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $454.08, for a total value of $15,509,556.48. Following the completion of the sale, the insider now directly owns 101,387,286 shares of the company’s stock, valued at approximately $46,037,938,826.88. The disclosure for this sale can be found here. Insiders have sold 1,010,309 shares of company stock valued at $21,095,701,670 in the last ninety days. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LLY. Bank of America lifted their target price on shares of Eli Lilly and Company from $500.00 to $600.00 in a research note on Wednesday, August 9th. Wells Fargo & Company increased their target price on Eli Lilly and Company from $500.00 to $615.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 8th. Royal Bank of Canada lifted their price target on Eli Lilly and Company from $490.00 to $580.00 and gave the company an “outperform” rating in a research report on Tuesday, August 8th. Morgan Stanley increased their price objective on Eli Lilly and Company from $617.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, September 5th. Finally, Barclays raised their target price on Eli Lilly and Company from $500.00 to $590.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $532.78.

Eli Lilly and Company Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. It 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; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.