Private Advisor Group LLC Increases Stock Position in Eli Lilly and Company (NYSE:LLY)

Private Advisor Group LLC increased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 5.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 80,401 shares of the company’s stock after purchasing an additional 4,119 shares during the period. Private Advisor Group LLC’s holdings in Eli Lilly and Company were worth $72,794,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Tidemark LLC purchased a new position in Eli Lilly and Company in the fourth quarter worth about $29,000. Core Wealth Advisors Inc. lifted its stake in shares of Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 32 shares during the period. Lynx Investment Advisory purchased a new position in shares of Eli Lilly and Company in the second quarter worth approximately $32,000. LGT Financial Advisors LLC bought a new stake in Eli Lilly and Company during the second quarter valued at approximately $36,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in Eli Lilly and Company during the fourth quarter valued at approximately $37,000. Institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LLY. Bank of America lifted their price target 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 note on Friday, August 9th. Guggenheim boosted their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. BMO Capital Markets upped their price target on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Argus lifted their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Finally, Wells Fargo & Company increased their target price on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Three investment 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $961.76.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 15,022 shares of Eli Lilly and Company stock in a transaction on Friday, June 14th. The shares were sold at an average price of $882.47, for a total value of $13,256,464.34. Following the completion of the transaction, the insider now directly owns 97,778,788 shares of the company’s stock, valued at approximately $86,286,847,046.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 737,410 shares of company stock worth $669,719,100. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Down 1.1 %

Shares of LLY stock opened at $902.71 on Friday. The company’s fifty day simple moving average is $895.97 and its two-hundred day simple moving average is $827.49. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $972.53. The stock has a market cap of $857.94 billion, a P/E ratio of 132.95, a PEG 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 (NYSE:LLY) last posted its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Analysts predict that Eli Lilly and Company will post 16.51 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 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.