Moseley Investment Management Inc. lifted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 28.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,056 shares of the company’s stock after acquiring an additional 450 shares during the period. Moseley Investment Management Inc.’s holdings in Eli Lilly and were worth $472,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Atlas Capital Advisors LLC lifted its holdings in shares of Eli Lilly and by 64.6% in the 2nd quarter. Atlas Capital Advisors LLC now owns 107 shares of the company’s stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Corsicana & Co. acquired a new stake in shares of Eli Lilly and in the 2nd quarter worth about $46,000. Sierra Capital LLC bought a new position in Eli Lilly and in the 1st quarter valued at about $46,000. HBC Financial Services PLLC bought a new position in Eli Lilly and in the 1st quarter valued at about $46,000. Finally, Meridian Wealth Partners LLC boosted its stake in Eli Lilly and by 47.4% during the 1st quarter. Meridian Wealth Partners LLC now owns 289 shares of the company’s stock valued at $54,000 after purchasing an additional 93 shares during the last quarter. 81.65% of the stock is currently owned by institutional investors and hedge funds.
LLY has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their target price on Eli Lilly and from $270.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, August 4th. Truist Securities lifted their price objective on shares of Eli Lilly and from $225.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, July 2nd. Truist Financial reiterated a “buy” rating and issued a $225.00 target price on shares of Eli Lilly and in a report on Tuesday, June 8th. Cowen boosted their price target on shares of Eli Lilly and from $250.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, August 30th. Finally, Cantor Fitzgerald increased their price objective on shares of Eli Lilly and from $245.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, June 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $250.41.
Eli Lilly and (NYSE:LLY) last posted its earnings results on Monday, August 2nd. The company reported $1.87 earnings per share for the quarter, missing the consensus estimate of $1.89 by ($0.02). Eli Lilly and had a return on equity of 119.12% and a net margin of 22.71%. The business had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.59 billion. During the same quarter in the previous year, the business earned $1.89 EPS. Eli Lilly and’s revenue for the quarter was up 22.6% on a year-over-year basis. Equities analysts predict that Eli Lilly and Company will post 7.87 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Friday, August 13th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, August 12th. This represents a $3.40 dividend on an annualized basis and a yield of 1.47%. Eli Lilly and’s dividend payout ratio (DPR) is 42.88%.
In other news, major shareholder Lilly Endowment Inc sold 3,060 shares of the company’s stock in a transaction dated Tuesday, August 17th. The stock was sold at an average price of $274.08, for a total transaction of $838,684.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 1,044,132 shares of company stock valued at $257,735,592 in the last ninety days. Insiders own 0.13% of the company’s stock.
About Eli Lilly and
Eli Lilly & Co engages in the discovery, development, manufacture and sale of pharmaceutical products. The firm’s products consist of Diabetes, Oncology, Immunology, Neuroscience, and Other therapies. The Diabetes products include Baqsimi, Basaglar, Humalog, Humulin, Jardiance, Lyumjev, Trajenta, and Trulicity.
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