New Century Financial Group LLC Grows Stock Holdings in Eli Lilly and Company (NYSE:LLY)

New Century Financial Group LLC raised its position in Eli Lilly and Company (NYSE:LLY) by 64.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,986 shares of the company’s stock after purchasing an additional 780 shares during the period. Eli Lilly and Company accounts for 1.1% of New Century Financial Group LLC’s investment portfolio, making the stock its 14th biggest position. New Century Financial Group LLC’s holdings in Eli Lilly and Company were worth $1,545,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Lipe & Dalton bought a new position in Eli Lilly and Company in the 4th quarter valued at $26,000. Core Wealth Advisors Inc. lifted its stake in Eli Lilly and Company by 188.2% in the fourth 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 last quarter. Tidemark LLC bought a new stake in Eli Lilly and Company in the fourth quarter worth $29,000. Redmont Wealth Advisors LLC bought a new stake in Eli Lilly and Company in the first quarter worth $40,000. Finally, Frank Rimerman Advisors LLC purchased a new position in shares of Eli Lilly and Company in the fourth quarter valued at about $37,000. 82.53% of the stock is owned by institutional investors.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 92,563 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the sale, the insider now directly owns 98,556,247 shares in the company, valued at approximately $79,752,700,634.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Lilly Endowment Inc sold 92,563 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the sale, the insider now directly owns 98,556,247 shares in the company, valued at approximately $79,752,700,634.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the sale, the chief accounting officer now owns 7,130 shares in the company, valued at $5,842,821.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 858,742 shares of company stock valued at $735,573,781. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday. BMO Capital Markets reiterated an “outperform” rating and set a $1,001.00 price target on shares of Eli Lilly and Company in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Jefferies Financial Group boosted their price target on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Finally, The Goldman Sachs Group boosted their price target on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $812.72.

Eli Lilly and Company Stock Down 0.9 %

NYSE:LLY traded down $8.61 during mid-day trading on Thursday, hitting $898.10. 3,078,367 shares of the company’s stock were exchanged, compared to its average volume of 2,667,176. Eli Lilly and Company has a one year low of $434.34 and a one year high of $918.50. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. The business has a fifty day moving average price of $824.60 and a 200 day moving average price of $746.69. The company has a market cap of $853.56 billion, a PE ratio of 132.27, a P/E/G ratio of 1.98 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued 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. The firm had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The business’s revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.62 earnings per share. Equities analysts predict that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be issued a dividend of $1.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.58%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

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.