Altus Wealth Group LLC Sells 21 Shares of Eli Lilly and Company (NYSE:LLY)

Altus Wealth Group LLC lowered its position in Eli Lilly and Company (NYSE:LLY) by 3.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 593 shares of the company’s stock after selling 21 shares during the period. Altus Wealth Group LLC’s holdings in Eli Lilly and Company were worth $537,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Eli Lilly and Company by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after buying an additional 1,133,810 shares in the last quarter. Capital World Investors increased its position in shares of Eli Lilly and Company by 0.3% in the 4th quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock valued at $15,709,466,000 after buying an additional 89,720 shares in the last quarter. Norges Bank bought a new stake in shares of Eli Lilly and Company in the 4th quarter valued at $5,992,890,000. Capital Research Global Investors increased its position in shares of Eli Lilly and Company by 6.0% in the 1st quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock valued at $6,248,210,000 after buying an additional 453,939 shares in the last quarter. Finally, Capital International Investors increased its holdings in Eli Lilly and Company by 5.1% during the 1st quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock worth $5,424,243,000 after purchasing an additional 335,560 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 3.5 %

Shares of NYSE:LLY opened at $912.75 on Friday. Eli Lilly and Company has a 52-week low of $516.57 and a 52-week high of $972.53. The company has a market capitalization of $867.48 billion, a P/E ratio of 134.43, a price-to-earnings-growth ratio of 2.91 and a beta of 0.41. The company has a 50-day simple moving average of $896.03 and a 200 day simple moving average of $826.65. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. Sell-side analysts forecast that Eli Lilly and Company will post 16.51 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be paid a $1.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.57%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Wall Street Analyst Weigh In

LLY has been the subject of a number of research reports. Morgan Stanley reiterated an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Wells Fargo & Company increased their target price on 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. BMO Capital Markets increased their target price on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Jefferies Financial Group increased their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Finally, Barclays increased their target price 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. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $961.76.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 75,510 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $860.78, for a total transaction of $64,997,497.80. Following the completion of the sale, the insider now directly owns 97,793,810 shares in the company, valued at $84,178,955,771.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 737,410 shares of company stock worth $669,719,100. Insiders own 0.13% of the company’s stock.

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.