Peterson Wealth Management Purchases 1,198 Shares of Eli Lilly and Company (NYSE:LLY)

Peterson Wealth Management increased its position in Eli Lilly and Company (NYSE:LLY) by 34.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,687 shares of the company’s stock after buying an additional 1,198 shares during the quarter. Eli Lilly and Company accounts for 2.6% of Peterson Wealth Management’s portfolio, making the stock its 14th largest position. Peterson Wealth Management’s holdings in Eli Lilly and Company were worth $4,244,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of LLY. Independent Advisor Alliance increased its stake in Eli Lilly and Company by 1.7% in the 4th quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock worth $18,810,000 after purchasing an additional 544 shares during the period. Apexium Financial LP increased its stake 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 valued at $6,667,000 after buying an additional 10,842 shares during the period. Capital Planning LLC purchased a new position in shares of Eli Lilly and Company during the first quarter valued at approximately $262,000. CHURCHILL MANAGEMENT Corp purchased a new position in shares of Eli Lilly and Company during the first quarter valued at approximately $6,916,000. Finally, M&G Plc purchased a new position in shares of Eli Lilly and Company during the first quarter valued at approximately $8,896,000. Institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LLY. Argus boosted their target price on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. BMO Capital Markets boosted their target price on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Berenberg Bank boosted their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. upped their price target on Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $961.76.

Eli Lilly and Company Trading Down 3.5 %

Eli Lilly and Company stock opened at $912.75 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The business’s fifty day simple moving average is $896.03 and its two-hundred day simple moving average is $826.65. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $972.53. The company has a market capitalization of $867.48 billion, a price-to-earnings ratio of 134.43, a price-to-earnings-growth ratio of 2.91 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. The firm had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. As a group, equities analysts predict that Eli Lilly and Company will post 16.51 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s payout ratio is currently 76.58%.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 75,510 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $860.78, for a total transaction of $64,997,497.80. Following the transaction, the insider now directly owns 97,793,810 shares of the company’s stock, valued at $84,178,955,771.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 737,410 shares of company stock valued at $669,719,100 over the last ninety days. 0.13% of the stock is currently 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.