Sound Income Strategies LLC Has $3.72 Million Holdings in Eli Lilly and Company (NYSE:LLY)

Sound Income Strategies LLC grew its stake in Eli Lilly and Company (NYSE:LLY) by 334.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,780 shares of the company’s stock after purchasing an additional 3,679 shares during the period. Sound Income Strategies LLC’s holdings in Eli Lilly and Company were worth $3,719,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Lipe & Dalton acquired a new position in Eli Lilly and Company in the 4th quarter valued at approximately $26,000. Tidemark LLC acquired a new position in shares of Eli Lilly and Company in the fourth quarter valued at $29,000. Core Wealth Advisors Inc. lifted its position in Eli Lilly and Company by 188.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 32 shares during the period. Frank Rimerman Advisors LLC bought a new stake in Eli Lilly and Company in the 4th quarter valued at $37,000. Finally, St. Johns Investment Management Company LLC raised its stake in shares of Eli Lilly and Company by 123.3% in 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 in the last quarter. Institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LLY. The Goldman Sachs Group raised their price target on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. boosted their price target on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Jefferies Financial Group increased their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research note on Monday. Citigroup boosted their target price on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Finally, BMO Capital Markets increased their target price on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and an average price target of $812.72.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the transaction, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at approximately $5,842,821.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the completion of the sale, the insider now directly owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 789,704 shares of company stock valued at $672,385,964. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Stock Down 0.4 %

Shares of LLY stock traded down $3.35 during trading hours on Wednesday, reaching $901.26. The company had a trading volume of 2,015,014 shares, compared to its average volume of 2,940,861. The business has a fifty day simple moving average of $804.54 and a 200-day simple moving average of $734.18. Eli Lilly and Company has a 12 month low of $434.34 and a 12 month high of $909.42. The company has a market cap of $856.57 billion, a price-to-earnings ratio of 132.73, a price-to-earnings-growth ratio of 1.97 and a beta of 0.36. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The firm had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. During the same period in the previous year, the firm earned $1.62 EPS. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. On average, research analysts expect that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently declared 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. This represents a $5.20 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

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.