LeConte Wealth Management LLC Acquires New Position in Eli Lilly and Company (NYSE:LLY)

LeConte Wealth Management LLC bought a new position in Eli Lilly and Company (NYSE:LLY) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 430 shares of the company’s stock, valued at approximately $355,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of LLY. WestEnd Advisors LLC lifted its stake in Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company’s stock valued at $26,000 after purchasing an additional 21 shares during the last quarter. Citizens National Bank Trust Department lifted its position in shares of Eli Lilly and Company by 180.0% in the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company’s stock valued at $35,000 after acquiring an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in shares of Eli Lilly and Company in the 1st quarter valued at approximately $40,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $43,000. Finally, O Brien Wealth Partners LLC lifted its position in shares of Eli Lilly and Company by 25.5% in the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company’s stock valued at $49,000 after acquiring an additional 12 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

LLY has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a “buy” rating for the company in a research report on Monday, August 11th. Morgan Stanley restated an “overweight” rating and issued a $1,135.00 price target (up previously from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. Hsbc Global Res downgraded shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research report on Monday, April 28th. HSBC downgraded shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and reduced their price target for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $964.88.

Eli Lilly and Company Trading Up 2.5%

Shares of NYSE LLY opened at $701.51 on Friday. Eli Lilly and Company has a 1-year low of $623.78 and a 1-year high of $972.53. The company has a market cap of $663.95 billion, a PE ratio of 45.85, a P/E/G ratio of 0.98 and a beta of 0.44. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The company has a 50-day moving average of $764.55 and a two-hundred day moving average of $794.63.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, topping analysts’ consensus estimates of $5.59 by $0.72. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The company had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. During the same period in the previous year, the firm posted $3.92 earnings per share. The company’s revenue was up 37.6% on a year-over-year basis. As a group, equities analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company’s payout ratio is 39.22%.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, Director Gabrielle Sulzberger purchased 117 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was acquired at an average cost of $641.18 per share, with a total value of $75,018.06. Following the completion of the purchase, the director directly owned 2,703 shares in the company, valued at approximately $1,733,109.54. This represents a 4.52% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David A. Ricks purchased 1,632 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average cost of $644.77 per share, with a total value of $1,052,264.64. Following the completion of the purchase, the chief executive officer owned 546,601 shares of the company’s stock, valued at $352,431,926.77. The trade was a 0.30% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 4,514 shares of company stock valued at $2,894,841 over the last 90 days. Company insiders own 0.13% of the company’s stock.

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.