Envestnet Portfolio Solutions Inc. Has $26.12 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Envestnet Portfolio Solutions Inc. grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 25.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,571 shares of the company’s stock after purchasing an additional 6,912 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Eli Lilly and Company were worth $26,117,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in LLY. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new stake in shares of Eli Lilly and Company during the third quarter worth about $344,000. Graham Capital Management L.P. bought a new stake in shares of Eli Lilly and Company during the third quarter worth about $2,593,000. Trust Co. of Vermont increased its position in shares of Eli Lilly and Company by 0.8% during the third quarter. Trust Co. of Vermont now owns 7,404 shares of the company’s stock worth $3,977,000 after acquiring an additional 57 shares in the last quarter. USA Financial Formulas increased its position in shares of Eli Lilly and Company by 8,433.3% during the third quarter. USA Financial Formulas now owns 256 shares of the company’s stock worth $138,000 after acquiring an additional 253 shares in the last quarter. Finally, Scarborough Advisors LLC bought a new stake in Eli Lilly and Company in the 3rd quarter worth about $233,000. 82.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LLY shares. Argus upped their price objective on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Citigroup upped their price objective on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, July 1st. Finally, Barclays upped their price objective on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $843.00.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the transaction, the insider now owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the firm’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 sale, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the sale, the insider now directly owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,214,704 shares of company stock worth $1,066,841,316. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Stock Performance

Shares of LLY stock traded up $15.23 during trading on Friday, reaching $949.37. 2,313,150 shares of the company’s stock traded hands, compared to its average volume of 2,931,836. The company has a market capitalization of $902.29 billion, a P/E ratio of 139.25, a PEG ratio of 2.05 and a beta of 0.41. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The firm’s 50-day moving average is $845.17 and its 200 day moving average is $760.02. Eli Lilly and Company has a 1 year low of $434.34 and a 1 year high of $950.79.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. During the same period in the prior year, the company posted $1.62 EPS. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. Equities research analysts expect that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed 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 0.55%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Eli Lilly and 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.