Ariadne Wealth Management LP Boosts Stock Position in Eli Lilly and Company (NYSE:LLY)

Ariadne Wealth Management LP lifted its position in Eli Lilly and Company (NYSE:LLY) by 1.7% in the first quarter, Holdings Channel.com reports. The firm owned 1,223 shares of the company’s stock after purchasing an additional 20 shares during the quarter. Ariadne Wealth Management LP’s holdings in Eli Lilly and Company were worth $1,010,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LLY. Tobias Financial Advisors Inc. raised its position in shares of Eli Lilly and Company by 4.1% during the 4th quarter. Tobias Financial Advisors Inc. now owns 307 shares of the company’s stock valued at $237,000 after buying an additional 12 shares during the period. Redwood Investments LLC raised its position in shares of Eli Lilly and Company by 0.5% during the 4th quarter. Redwood Investments LLC now owns 2,209 shares of the company’s stock valued at $1,705,000 after buying an additional 12 shares during the period. Hobbs Wealth Management LLC raised its position in shares of Eli Lilly and Company by 0.8% during the 1st quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company’s stock valued at $1,205,000 after buying an additional 12 shares during the period. Hixon Zuercher LLC raised its position in shares of Eli Lilly and Company by 0.7% during the 1st quarter. Hixon Zuercher LLC now owns 1,789 shares of the company’s stock valued at $1,477,000 after buying an additional 12 shares during the period. Finally, O Brien Wealth Partners LLC raised its position in shares of Eli Lilly and Company by 25.5% during the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company’s stock valued at $49,000 after buying an additional 12 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Erste Group Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, June 5th. Guggenheim boosted their target price on Eli Lilly and Company from $936.00 to $942.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Leerink Partnrs lowered Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 7th. HSBC lowered Eli Lilly and Company from a “buy” rating to a “reduce” rating and cut their target price for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. Finally, Hsbc Global Res lowered Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $977.65.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $635.46 on Tuesday. The firm has a market capitalization of $601.44 billion, a PE ratio of 41.53, a price-to-earnings-growth ratio of 0.87 and a beta of 0.44. The business’s fifty day moving average price is $771.87 and its 200 day moving average price is $798.30. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00. Eli Lilly and Company has a 12 month low of $623.78 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, August 7th. The company reported $6.31 EPS for the quarter, beating the consensus estimate of $5.59 by $0.72. The firm had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.40 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%. Eli Lilly and Company’s revenue for the quarter was up 37.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.92 earnings per share. On average, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

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

Insider Buying and Selling

In other Eli Lilly and Company news, Director Jamere Jackson bought 200 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were purchased at an average price of $639.56 per share, with a total value of $127,912.00. Following the completion of the acquisition, the director directly owned 9,402 shares of the company’s stock, valued at $6,013,143.12. This represents a 2.17% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is 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.