Eli Lilly and Company (NYSE:LLY) Stake Cut by Sheets Smith Wealth Management

Posted by Defense World Staff on Sep 10th, 2023

Eli Lilly and Company logo Sheets Smith Wealth Management cut its position in shares of Eli Lilly and Company (NYSE:LLY – Free Report) by 85.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 343 shares of the company’s stock after selling 1,964 shares during the quarter. Sheets Smith Wealth Management’s holdings in Eli Lilly and Company were worth $796,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in LLY. Fairfield Bush & CO. bought a new stake in Eli Lilly and Company in the first quarter valued at $107,000. Roundview Capital LLC lifted its stake in Eli Lilly and Company by 2.6% in the first quarter. Roundview Capital LLC now owns 2,056 shares of the company’s stock valued at $589,000 after buying an additional 53 shares during the last quarter. Merit Financial Group LLC bought a new stake in Eli Lilly and Company in the first quarter valued at $210,000. NewEdge Advisors LLC lifted its stake in Eli Lilly and Company by 9.9% in the first quarter. NewEdge Advisors LLC now owns 53,052 shares of the company’s stock valued at $15,193,000 after buying an additional 4,774 shares during the last quarter. Finally, Barometer Capital Management Inc. bought a new stake in Eli Lilly and Company in the first quarter valued at $561,000. 81.38% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 600 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $546.51, for a total value of $327,906.00. Following the transaction, the chief accounting officer now directly owns 5,378 shares of the company’s stock, valued at approximately $2,939,130.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Eli Lilly and Company news, EVP Johna Norton sold 1,647 shares of Eli Lilly and Company stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $444.29, for a total value of $731,745.63. Following the transaction, the executive vice president now directly owns 31,761 shares of the company’s stock, valued at approximately $14,111,094.69. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Donald A. Zakrowski sold 600 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $546.51, for a total value of $327,906.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,378 shares in the company, valued at $2,939,130.78. The disclosure for this sale can be found here. Insiders sold a total of 1,038,161 shares of company stock worth $21,108,177,335 in the last three months. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LLY. UBS Group raised their price target on Eli Lilly and Company from $447.00 to $498.00 and gave the company a “buy” rating in a report on Wednesday, May 24th. Truist Financial raised their price target on Eli Lilly and Company from $525.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Credit Suisse Group raised their price target on Eli Lilly and Company from $490.00 to $580.00 and gave the company an “outperform” rating in a report on Wednesday, August 9th. 22nd Century Group reissued a “maintains” rating on shares of Eli Lilly and Company in a report on Tuesday, June 27th. Finally, Wells Fargo & Company lifted their target price on Eli Lilly and Company from $500.00 to $615.00 and gave the stock an “overweight” rating in a report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target of $532.78.

View Our Latest Stock Report on Eli Lilly and Company

Eli Lilly and Company Trading Up 2.3 %

Shares of NYSE LLY opened at $586.46 on Friday. Eli Lilly and Company has a one year low of $296.32 and a one year high of $587.55. The firm has a market capitalization of $556.72 billion, a PE ratio of 81.57, a PEG ratio of 2.36 and a beta of 0.32. The company has a current ratio of 1.13, a quick ratio of 0.87 and a debt-to-equity ratio of 1.63. The business has a 50-day moving average price of $499.40 and a two-hundred day moving average price of $428.93.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.13. The business had revenue of $8.31 billion during the quarter, compared to analyst estimates of $7.58 billion. Eli Lilly and Company had a return on equity of 65.00% and a net margin of 22.01%. The firm’s revenue was up 28.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.25 EPS. As a group, analysts predict that Eli Lilly and Company will post 9.83 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Tuesday, August 15th were issued a dividend of $1.13 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $4.52 annualized dividend and a dividend yield of 0.77%. Eli Lilly and Company’s dividend payout ratio is 62.87%.

Eli Lilly and Company Company Profile

(Free Report)

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. It 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; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.