Perennial Investment Advisors LLC Decreases Position in Eli Lilly and Company (NYSE:LLY)

Perennial Investment Advisors LLC lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 21.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,337 shares of the company’s stock after selling 376 shares during the period. Perennial Investment Advisors LLC’s holdings in Eli Lilly and Company were worth $1,210,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Tidemark LLC purchased a new stake in Eli Lilly and Company in the 4th quarter valued at approximately $29,000. Core Wealth Advisors Inc. lifted its stake in shares of Eli Lilly and Company by 188.2% during 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 period. Lynx Investment Advisory acquired a new stake in shares of Eli Lilly and Company in the second quarter worth approximately $32,000. LGT Financial Advisors LLC acquired a new stake in Eli Lilly and Company during the second quarter worth about $36,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in Eli Lilly and Company during the 4th quarter worth $37,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 17,229 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $902.38, for a total transaction of $15,547,105.02. Following the completion of the transaction, the insider now directly owns 97,556,910 shares of the company’s stock, valued at $88,033,404,445.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 451,900 shares of company stock worth $418,732,178. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LLY. Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Citigroup began coverage on Eli Lilly and Company in a research report on Friday. They set a “buy” rating and a $1,060.00 price target on the stock. Wells Fargo & Company raised their target price on shares of 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. Berenberg Bank boosted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft raised Eli Lilly and Company from a “hold” rating to a “buy” rating and increased their price objective for the company 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $977.35.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $924.05 on Tuesday. Eli Lilly and Company has a 1-year low of $516.57 and a 1-year high of $972.53. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $878.22 billion, a PE ratio of 136.09, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The firm’s 50 day simple moving average is $897.24 and its 200 day simple moving average is $835.09.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. As a group, analysts expect that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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

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.