Cahaba Wealth Management Inc. Reduces Stock Position in Eli Lilly and Company (NYSE:LLY)

Cahaba Wealth Management Inc. decreased its position in shares of Eli Lilly and Company (NYSE:LLY) by 10.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,376 shares of the company’s stock after selling 153 shares during the quarter. Cahaba Wealth Management Inc.’s holdings in Eli Lilly and Company were worth $1,246,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. AMJ Financial Wealth Management acquired a new stake in shares of Eli Lilly and Company during the fourth quarter valued at about $201,000. Providence First Trust Co purchased a new position in Eli Lilly and Company in the fourth quarter valued at $274,000. Aveo Capital Partners LLC grew its position in shares of Eli Lilly and Company by 8.2% during the fourth quarter. Aveo Capital Partners LLC now owns 2,020 shares of the company’s stock worth $1,178,000 after buying an additional 153 shares in the last quarter. Gryphon Financial Partners LLC increased its position in shares of Eli Lilly and Company by 19.4% in the 4th quarter. Gryphon Financial Partners LLC now owns 2,324 shares of the company’s stock valued at $1,355,000 after purchasing an additional 377 shares during the last quarter. Finally, Heritage Investors Management Corp increased its holdings in Eli Lilly and Company by 8.5% in the fourth quarter. Heritage Investors Management Corp now owns 842 shares of the company’s stock valued at $491,000 after buying an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 1.1 %

NYSE:LLY opened at $902.71 on Friday. The firm has a market cap of $857.94 billion, a price-to-earnings ratio of 132.95, a P/E/G ratio of 2.91 and a beta of 0.41. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $972.53. The company’s 50 day moving average is $895.97 and its 200-day moving average is $827.49.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, August 8th. The company reported $3.92 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. The business had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. Equities analysts anticipate that Eli Lilly and Company will post 16.51 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. Shareholders of record on Thursday, August 15th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.58%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Analysts Set New Price Targets

LLY has been the subject of a number of research reports. Morgan Stanley reissued an “overweight” rating and issued a $1,106.00 price target on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday. Berenberg Bank increased their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Wells Fargo & Company lifted their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Finally, Bank of America boosted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and an average target price of $961.76.

Insider Activity at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 75,510 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were 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 in the company, valued at $84,178,955,771.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 737,410 shares of company stock valued at $669,719,100 in the last ninety days. Insiders own 0.13% of the company’s stock.

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.