Wolff Wiese Magana LLC Grows Holdings in Eli Lilly and Company (NYSE:LLY)

Wolff Wiese Magana LLC boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 11.1% in the 1st quarter, HoldingsChannel reports. The firm owned 1,705 shares of the company’s stock after purchasing an additional 170 shares during the quarter. Wolff Wiese Magana LLC’s holdings in Eli Lilly and Company were worth $1,326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Simon Quick Advisors LLC boosted its stake in Eli Lilly and Company by 10.5% in the 4th quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock worth $1,706,000 after purchasing an additional 278 shares during the period. Independent Advisor Alliance boosted its position in shares of Eli Lilly and Company by 1.7% during the 4th quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock valued at $18,810,000 after acquiring an additional 544 shares during the last quarter. Apexium Financial LP boosted its position in shares of Eli Lilly and Company by 1,819.1% during the 4th quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock valued at $6,667,000 after acquiring an additional 10,842 shares during the last quarter. Clear Harbor Asset Management LLC bought a new position in shares of Eli Lilly and Company during the 4th quarter valued at approximately $363,000. Finally, Terril Brothers Inc. boosted its position in shares of Eli Lilly and Company by 113.2% during the 4th quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock valued at $471,000 after acquiring an additional 429 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $914.37 on Tuesday. Eli Lilly and Company has a 1-year low of $434.34 and a 1-year high of $916.83. The stock’s 50-day moving average is $814.40 and its 200 day moving average is $740.86. The company has a market cap of $869.03 billion, a P/E ratio of 134.66, a PEG ratio of 1.97 and a beta of 0.41. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.05. The business had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company’s quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter last year, the company earned $1.62 earnings per share. Research analysts predict that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal 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 issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. increased their target price on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Bank of America reiterated a “buy” rating and set a $1,000.00 target price on shares of Eli Lilly and Company in a research report on Monday, June 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Finally, Citigroup increased their price target on Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Three 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $812.72.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 1,441 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $915.02, for a total transaction of $1,318,543.82. Following the completion of the transaction, the insider now directly owns 97,367,369 shares in the company, valued at $89,093,089,982.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Lilly Endowment Inc sold 1,441 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $915.02, for a total transaction of $1,318,543.82. Following the completion of the transaction, the insider now directly owns 97,367,369 shares in the company, valued at $89,093,089,982.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the sale, the executive vice president now owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The disclosure for this sale can be found here. Insiders sold 791,145 shares of company stock valued at $673,704,508 over the last quarter. 0.13% of the stock is currently owned by company insiders.

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.