Foundations Investment Advisors LLC Buys 2,146 Shares of Eli Lilly and Company (NYSE:LLY)

Foundations Investment Advisors LLC grew its stake in shares of Eli Lilly and Company (NYSE:LLY) by 10.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,926 shares of the company’s stock after acquiring an additional 2,146 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Eli Lilly and Company were worth $20,757,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Independent Advisor Alliance increased its holdings in Eli Lilly and Company by 1.7% in the 4th quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock worth $18,810,000 after buying an additional 544 shares in the last quarter. Apexium Financial LP increased its holdings in Eli Lilly and Company by 1,819.1% in the 4th quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock worth $6,667,000 after buying an additional 10,842 shares in the last quarter. Capital Planning LLC bought a new stake in Eli Lilly and Company in the 1st quarter worth about $262,000. CHURCHILL MANAGEMENT Corp bought a new stake in Eli Lilly and Company in the 1st quarter worth about $6,916,000. Finally, M&G Plc bought a new stake in Eli Lilly and Company in the 1st quarter worth about $8,896,000. 82.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LLY has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday, August 19th. JPMorgan Chase & Co. raised their target price on Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Berenberg Bank raised their target price on 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. Finally, BMO Capital Markets raised 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 research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $961.76.

Eli Lilly and Company Price Performance

NYSE LLY traded down $4.95 during trading hours on Wednesday, reaching $951.58. The company’s stock had a trading volume of 233,032 shares, compared to its average volume of 3,050,413. The firm’s 50-day moving average price is $895.06 and its 200-day moving average price is $825.20. The company has a quick ratio of 0.87, a current ratio of 1.11 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. The company has a market capitalization of $904.39 billion, a price-to-earnings ratio of 140.87, a PEG ratio of 2.91 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $9.83 billion. On average, equities research analysts predict that Eli Lilly and Company will post 16.51 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total value of $197,362,200.00. Following the sale, the insider now owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 876,900 shares of company stock valued at $788,605,032 in the last quarter. 0.13% of the stock is currently owned by insiders.

Eli Lilly and 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.