Journey Advisory Group LLC Reduces Stake in Eli Lilly and Company (NYSE:LLY)

Journey Advisory Group LLC cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 15.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,817 shares of the company’s stock after selling 4,623 shares during the period. Eli Lilly and Company accounts for about 2.7% of Journey Advisory Group LLC’s investment portfolio, making the stock its 9th biggest holding. Journey Advisory Group LLC’s holdings in Eli Lilly and Company were worth $22,469,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. AMJ Financial Wealth Management bought a new position in shares of Eli Lilly and Company during the 4th quarter worth approximately $201,000. Providence First Trust Co bought a new position in Eli Lilly and Company during the fourth quarter worth $274,000. Aveo Capital Partners LLC boosted its position in 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 purchasing an additional 153 shares during the period. Gryphon Financial Partners LLC increased its holdings in shares of Eli Lilly and Company by 19.4% in the fourth 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, Bogart Wealth LLC raised its position in shares of Eli Lilly and Company by 61.5% in the fourth quarter. Bogart Wealth LLC now owns 289 shares of the company’s stock valued at $168,000 after purchasing an additional 110 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Trading Down 2.4 %

NYSE LLY traded down $22.54 during trading hours on Thursday, hitting $923.77. 787,753 shares of the company’s stock were exchanged, compared to its average volume of 3,045,424. The firm has a market cap of $877.96 billion, a price-to-earnings ratio of 138.08, a PEG ratio of 2.91 and a beta of 0.41. The stock has a 50-day simple moving average of $895.96 and a 200 day simple moving average of $826.05. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. Eli Lilly and Company has a 1-year low of $516.57 and a 1-year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $9.83 billion. On average, equities analysts forecast 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. The ex-dividend date is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.56%. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Barclays boosted 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, July 10th. Bank of America boosted their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Wells Fargo & Company increased their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. BMO Capital Markets boosted their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Finally, Berenberg Bank raised their price target on shares of 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. Two investment 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, the company presently has an average rating of “Moderate Buy” and an average target price of $961.76.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 139,490 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $852.29, for a total transaction of $118,885,932.10. Following the transaction, the insider now owns 97,869,320 shares of the company’s stock, valued at $83,413,042,742.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders have sold 876,900 shares of company stock valued at $788,605,032. 0.13% of the stock is owned by corporate insiders.

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.