WESPAC Advisors SoCal LLC Has $11.24 Million Position in Eli Lilly and Company (NYSE:LLY)

WESPAC Advisors SoCal LLC lifted its holdings in Eli Lilly and Company (NYSE:LLY) by 4.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,448 shares of the company’s stock after buying an additional 565 shares during the quarter. Eli Lilly and Company comprises 2.9% of WESPAC Advisors SoCal LLC’s portfolio, making the stock its 10th biggest holding. WESPAC Advisors SoCal LLC’s holdings in Eli Lilly and Company were worth $11,240,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LLY. Vanguard Group Inc. raised its holdings in Eli Lilly and Company by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock worth $37,908,273,000 after purchasing an additional 659,838 shares during the last quarter. Capital World Investors raised its holdings in Eli Lilly and Company by 0.3% during the 4th quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock worth $15,709,466,000 after purchasing an additional 89,720 shares during the last quarter. Morgan Stanley raised its holdings in Eli Lilly and Company by 0.7% during the 3rd quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock worth $6,738,605,000 after purchasing an additional 83,915 shares during the last quarter. Norges Bank bought a new stake in Eli Lilly and Company during the 4th quarter worth about $5,992,890,000. Finally, Capital Research Global Investors raised its holdings in Eli Lilly and Company by 4.5% during the 4th quarter. Capital Research Global Investors now owns 7,577,592 shares of the company’s stock worth $4,417,120,000 after purchasing an additional 325,342 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 1,441 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $915.02, for a total transaction of $1,318,543.82. Following the sale, the insider now owns 97,367,369 shares in the company, valued at approximately $89,093,089,982.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Johna Norton sold 7,056 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the sale, the executive vice president now owns 25,428 shares in the company, valued at approximately $20,835,194.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Lilly Endowment Inc sold 1,441 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $915.02, for a total value of $1,318,543.82. Following the sale, the insider now owns 97,367,369 shares in the company, valued at approximately $89,093,089,982.38. The disclosure for this sale can be found here. Insiders sold a total of 791,145 shares of company stock valued at $673,704,508 in the last quarter. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Stock Up 1.0 %

Shares of LLY traded up $8.99 on Monday, hitting $914.37. The company’s stock had a trading volume of 2,469,029 shares, compared to its average volume of 2,933,687. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The firm’s fifty day moving average price is $814.40 and its 200-day moving average price is $740.86. Eli Lilly and Company has a fifty-two week low of $434.34 and a fifty-two week high of $916.83. The firm has a market capitalization of $869.03 billion, a price-to-earnings ratio of 134.66, a P/E/G ratio of 1.97 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its quarterly 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 firm had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. During the same quarter in the prior year, the firm posted $1.62 EPS. The business’s revenue was up 26.0% on a year-over-year basis. On average, equities research analysts expect that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders 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 of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Wall Street Analyst Weigh In

LLY has been the subject of several recent research reports. Argus boosted their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Truist Financial reissued a “buy” rating and set a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Jefferies Financial Group boosted their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Finally, Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $812.72.

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.