Eli Lilly and Company (NYSE:LLY) Stake Trimmed by CRA Financial Services LLC

CRA Financial Services LLC lowered its stake in Eli Lilly and Company (NYSE:LLY) by 2.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,008 shares of the company’s stock after selling 84 shares during the quarter. CRA Financial Services LLC’s holdings in Eli Lilly and Company were worth $3,118,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Simon Quick Advisors LLC boosted its position in shares of Eli Lilly and Company by 10.5% in the fourth quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock worth $1,706,000 after buying an additional 278 shares during the period. Independent Advisor Alliance boosted its position in shares of Eli Lilly and Company by 1.7% in the fourth quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock worth $18,810,000 after buying an additional 544 shares during the period. Apexium Financial LP raised its holdings in shares of Eli Lilly and Company by 1,819.1% during the fourth quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock worth $6,667,000 after acquiring an additional 10,842 shares in the last quarter. Clear Harbor Asset Management LLC purchased a new stake in shares of Eli Lilly and Company during the fourth quarter worth $363,000. Finally, Terril Brothers Inc. raised its holdings in shares of Eli Lilly and Company by 113.2% during the fourth quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock worth $471,000 after acquiring an additional 429 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LLY. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday, June 24th. Bank of America reiterated a “buy” rating and set a $1,000.00 price objective on shares of Eli Lilly and Company in a report on Monday, June 24th. Citigroup increased their price objective on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. The Goldman Sachs Group increased their price objective on Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Finally, BMO Capital Markets raised their target price on Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $812.72.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock traded down $3.66 during trading on Friday, reaching $905.38. The company’s stock had a trading volume of 3,375,426 shares, compared to its average volume of 2,579,751. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The business’s fifty day moving average price is $814.40 and its 200-day moving average price is $739.86. The firm has a market cap of $860.48 billion, a price-to-earnings ratio of 133.34, a price-to-earnings-growth ratio of 1.98 and a beta of 0.36. Eli Lilly and Company has a one year low of $434.34 and a one year high of $915.54.

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

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 17,229 shares of Eli Lilly and Company stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $902.38, for a total transaction of $15,547,105.02. Following the sale, the insider now directly owns 97,556,910 shares of the company’s stock, valued at $88,033,404,445.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 17,229 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $902.38, for a total transaction of $15,547,105.02. Following the sale, the insider now directly owns 97,556,910 shares of the company’s stock, valued at $88,033,404,445.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Johna Norton sold 7,056 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the sale, the executive vice president now directly owns 25,428 shares in the company, valued at $20,835,194.64. The disclosure for this sale can be found here. Insiders have sold a total of 789,704 shares of company stock valued at $672,385,964 over the last three months. 0.13% of the stock is owned by corporate insiders.

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.