Worth Asset Management LLC Grows Position in Eli Lilly and Company (NYSE:LLY)

Worth Asset Management LLC grew its position in shares of Eli Lilly and Company (NYSE:LLY) by 198.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 355 shares of the company’s stock after acquiring an additional 236 shares during the quarter. Worth Asset Management LLC’s holdings in Eli Lilly and Company were worth $166,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legacy Bridge LLC lifted its stake in shares of Eli Lilly and Company by 31.7% during the second quarter. Legacy Bridge LLC now owns 5,313 shares of the company’s stock worth $2,492,000 after purchasing an additional 1,280 shares in the last quarter. Kathmere Capital Management LLC raised its holdings in shares of Eli Lilly and Company by 1.1% during the 2nd quarter. Kathmere Capital Management LLC now owns 4,123 shares of the company’s stock valued at $1,934,000 after buying an additional 45 shares during the period. Flagship Harbor Advisors LLC lifted its position in Eli Lilly and Company by 17.2% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 5,276 shares of the company’s stock worth $2,474,000 after acquiring an additional 773 shares in the last quarter. Gradient Investments LLC boosted its holdings in Eli Lilly and Company by 20.1% in the 2nd quarter. Gradient Investments LLC now owns 682 shares of the company’s stock worth $320,000 after acquiring an additional 114 shares during the period. Finally, Bard Financial Services Inc. raised its stake in shares of Eli Lilly and Company by 1.8% during the second quarter. Bard Financial Services Inc. now owns 5,750 shares of the company’s stock valued at $2,697,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Eli Lilly and Company Stock Down 0.0 %

NYSE:LLY opened at $575.50 on Monday. Eli Lilly and Company has a 1 year low of $296.32 and a 1 year high of $601.84. 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 stock has a market cap of $546.32 billion, a price-to-earnings ratio of 80.06, a PEG ratio of 2.47 and a beta of 0.32. The stock has a 50-day moving average price of $512.56 and a two-hundred day moving average price of $439.28.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.13. Eli Lilly and Company had a net margin of 22.01% and a return on equity of 65.00%. The firm had revenue of $8.31 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The business’s revenue was up 28.1% on a year-over-year basis. As a group, equities analysts expect that Eli Lilly and Company will post 9.84 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Tuesday, August 15th were given a dividend of $1.13 per share. The ex-dividend date was Monday, August 14th. This represents a $4.52 annualized dividend and a dividend yield of 0.79%. Eli Lilly and Company’s dividend payout ratio is currently 62.87%.

Analyst Upgrades and Downgrades

LLY has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Eli Lilly and Company from $500.00 to $615.00 and gave the company an “overweight” rating in a report on Tuesday, August 8th. Citigroup lifted their price objective on Eli Lilly and Company from $360.00 to $525.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. Morgan Stanley increased their target price on Eli Lilly and Company from $617.00 to $640.00 and gave the company an “overweight” rating in a research note on Tuesday, September 5th. Truist Financial lifted their price target on shares of Eli Lilly and Company from $525.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Finally, Berenberg Bank increased their price objective on shares of Eli Lilly and Company from $375.00 to $500.00 in a research note on Tuesday, June 20th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $532.78.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 34,156 shares of the stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $454.08, for a total transaction of $15,509,556.48. Following the completion of the transaction, the insider now owns 101,387,286 shares in the company, valued at $46,037,938,826.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Alonzo Weems sold 1,148 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $590.98, for a total transaction of $678,445.04. Following the transaction, the executive vice president now directly owns 7,760 shares in the company, valued at $4,586,004.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Lilly Endowment Inc sold 34,156 shares of the stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $454.08, for a total transaction of $15,509,556.48. Following the completion of the sale, the insider now owns 101,387,286 shares of the company’s stock, valued at approximately $46,037,938,826.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,010,309 shares of company stock valued at $21,095,701,670. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Company Profile

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.