Riggs Asset Managment Co. Inc. Sells 134 Shares of Eli Lilly and Company (NYSE:LLY)

Riggs Asset Managment Co. Inc. reduced its position in shares of Eli Lilly and Company (NYSE:LLY) by 4.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,097 shares of the company’s stock after selling 134 shares during the period. Riggs Asset Managment Co. Inc.’s holdings in Eli Lilly and Company were worth $2,409,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LLY. Lipe & Dalton purchased a new position in shares of Eli Lilly and Company in the 4th quarter worth about $26,000. Core Wealth Advisors Inc. boosted 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 valued at $29,000 after acquiring an additional 32 shares during the last quarter. Activest Wealth Management bought a new position in shares of Eli Lilly and Company during the 1st quarter valued at approximately $39,000. Tidemark LLC purchased a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $29,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Eli Lilly and Company in the 1st quarter worth approximately $40,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 92,563 shares of Eli Lilly and Company stock in a transaction that occurred 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 transaction, the insider now directly owns 98,556,247 shares of the company’s stock, valued at $79,752,700,634.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Lilly Endowment Inc sold 92,563 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the transaction, the insider now directly owns 98,556,247 shares of the company’s stock, valued at $79,752,700,634.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the transaction, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. Insiders have sold 1,214,704 shares of company stock worth $1,066,841,316 over the last ninety days. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock traded down $5.57 on Thursday, hitting $934.21. 2,347,978 shares of the company traded hands, compared to its average volume of 2,932,666. Eli Lilly and Company has a 12-month low of $434.34 and a 12-month high of $945.69. 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 company has a market cap of $887.88 billion, a P/E ratio of 136.88, a P/E/G ratio of 2.00 and a beta of 0.41. The firm’s 50-day simple moving average is $841.60 and its 200 day simple moving average is $758.80.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The business had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. During the same quarter last year, the business posted $1.62 earnings per share. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. Analysts expect that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Truist Financial reissued a “buy” rating and issued a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Citigroup boosted their price objective on Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, July 1st. JPMorgan Chase & Co. boosted their price target on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Argus raised 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 report on Tuesday, May 14th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $843.00.

Eli Lilly and Company 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.