Advisory Services Network LLC Increases Stock Position in Eli Lilly and Company (NYSE:LLY)

Advisory Services Network LLC raised its position in shares of Eli Lilly and Company (NYSE:LLY) by 5.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,528 shares of the company’s stock after buying an additional 2,225 shares during the quarter. Eli Lilly and Company comprises approximately 0.8% of Advisory Services Network LLC’s portfolio, making the stock its 11th biggest position. Advisory Services Network LLC’s holdings in Eli Lilly and Company were worth $35,418,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lipe & Dalton purchased a new position in shares of Eli Lilly and Company in the 4th quarter worth about $26,000. Tidemark LLC purchased a new position in shares of Eli Lilly and Company in the 4th quarter worth about $29,000. Core Wealth Advisors Inc. raised its position 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 last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of Eli Lilly and Company in the 4th quarter worth about $37,000. Finally, St. Johns Investment Management Company LLC raised its position in shares of Eli Lilly and Company by 123.3% in the 4th quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock worth $39,000 after purchasing an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock traded up $12.55 during trading hours on Friday, reaching $946.69. 861,165 shares of the stock traded hands, compared to its average volume of 2,920,290. Eli Lilly and Company has a one year low of $434.34 and a one year high of $948.71. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $899.74 billion, a price-to-earnings ratio of 139.25, a P/E/G ratio of 2.05 and a beta of 0.41. The company has a 50 day moving average price of $845.17 and a 200 day moving average price of $760.02.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data 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 firm had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. During the same period in the previous year, the firm earned $1.62 EPS. The business’s quarterly revenue was up 26.0% on a year-over-year basis. On average, equities research 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given 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 dividend yield of 0.55%. Eli Lilly and Company’s payout ratio is currently 76.58%.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the transaction, the insider now directly owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total value of $1,660,068.00. Following the transaction, the insider now directly owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the transaction, the executive vice president now directly owns 25,428 shares in the company, valued at $20,835,194.64. The disclosure for this sale can be found here. Insiders have sold a total of 1,214,704 shares of company stock valued at $1,066,841,316 in the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LLY. The Goldman Sachs Group lifted their price target on Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Argus lifted their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Barclays lifted their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Bank of America reiterated a “buy” rating and issued a $1,000.00 price objective on shares of Eli Lilly and Company in a report on Monday, June 24th. Three analysts have rated the stock with a hold rating and eighteen 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 a consensus price target of $843.00.

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.