Smith Salley Wealth Management Sells 1,887 Shares of Eli Lilly and Company (NYSE:LLY)

Smith Salley Wealth Management lessened its position in Eli Lilly and Company (NYSE:LLYFree Report) by 59.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,292 shares of the company’s stock after selling 1,887 shares during the period. Smith Salley Wealth Management’s holdings in Eli Lilly and Company were worth $1,005,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Lipe & Dalton bought a new stake in Eli Lilly and Company during the 4th quarter worth approximately $26,000. Core Wealth Advisors Inc. boosted its position in shares of Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 32 shares during the last quarter. Activest Wealth Management bought a new stake in Eli Lilly and Company during the first quarter worth $39,000. Tidemark LLC purchased a new stake in Eli Lilly and Company in the 4th quarter valued at $29,000. Finally, Redmont Wealth Advisors LLC bought a new position in Eli Lilly and Company during the 1st quarter valued at $40,000. Institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on LLY shares. BMO Capital Markets reiterated an “outperform” rating and issued a $1,001.00 target price on shares of Eli Lilly and Company in a research note on Wednesday, July 3rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,023.00 price objective on shares of Eli Lilly and Company in a research report on Friday, July 5th. Jefferies Financial Group lifted their target price on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, July 1st. Three research 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $816.78.

Check Out Our Latest Analysis on LLY

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the sale, the chief accounting officer now directly owns 7,130 shares in the company, valued at approximately $5,842,821.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at approximately $5,842,821.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the completion of the sale, the insider now directly owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,004,704 shares of company stock valued at $869,479,116. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock traded up $5.33 during trading hours on Wednesday, reaching $937.83. The company had a trading volume of 248,054 shares, compared to its average volume of 2,918,540. The firm has a market cap of $891.32 billion, a PE ratio of 137.46, a price-to-earnings-growth ratio of 2.00 and a beta of 0.41. Eli Lilly and Company has a one year low of $434.34 and a one year high of $939.09. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. The business has a fifty day simple moving average of $838.34 and a 200 day simple moving average of $757.52.

Eli Lilly and Company (NYSE:LLYGet Free Report) last issued its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. The business had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The firm’s quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.62 EPS. On average, analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.55%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Eli Lilly and Company Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Eli Lilly and Company (NYSE:LLY)

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