Prosperity Consulting Group LLC Sells 116 Shares of Eli Lilly and Company (NYSE:LLY)

Prosperity Consulting Group LLC lessened its holdings in Eli Lilly and Company (NYSE:LLY) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,279 shares of the company’s stock after selling 116 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Eli Lilly and Company were worth $2,969,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Independent Advisor Alliance increased its stake in shares of Eli Lilly and Company by 1.7% during the fourth quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock valued at $18,810,000 after buying an additional 544 shares during the period. Capital Planning LLC bought a new stake in shares of Eli Lilly and Company in the 1st quarter valued at about $262,000. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of Eli Lilly and Company in the 1st quarter worth approximately $6,916,000. M&G Plc bought a new position in shares of Eli Lilly and Company during the first quarter valued at approximately $8,896,000. Finally, IPG Investment Advisors LLC purchased a new position in Eli Lilly and Company during the fourth quarter valued at approximately $351,000. 82.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 1,441 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $915.02, for a total value of $1,318,543.82. Following the completion of the sale, the insider now owns 97,367,369 shares of the company’s stock, valued at approximately $89,093,089,982.38. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 646,878 shares of company stock valued at $591,465,138. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

LLY has been the topic of several recent research reports. Morgan Stanley reaffirmed an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Bank of America raised their price objective on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, September 9th. Barclays boosted their price objective on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and lifted their price target for the stock from $725.00 to $1,025.00 in a report on Monday, August 12th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $977.35.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $923.71 on Friday. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week high of $972.53. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The firm has a market capitalization of $877.92 billion, a P/E ratio of 136.04, a PEG ratio of 2.79 and a beta of 0.42. The stock has a 50-day simple moving average of $897.12 and a two-hundred day simple moving average of $832.88.

Eli Lilly and Company (NYSE:LLY) last posted 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. The firm had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. On average, equities analysts forecast that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were issued a $1.30 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.56%. Eli Lilly and Company’s payout ratio is 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.