Shulman DeMeo Asset Management LLC Lowers Holdings in Eli Lilly and Company (NYSE:LLY)

30 Dec 2023, 08:24 by Amy Steele · The Cerbat Gem

Shulman DeMeo Asset Management LLC trimmed its holdings in Eli Lilly and Company (NYSE:LLY – Free Report) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,055 shares of the company’s stock after selling 43 shares during the quarter. Eli Lilly and Company accounts for approximately 0.4% of Shulman DeMeo Asset Management LLC’s investment portfolio, making the stock its 26th biggest holding. Shulman DeMeo Asset Management LLC’s holdings in Eli Lilly and Company were worth $1,104,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in LLY. Retirement Group LLC boosted its stake in shares of Eli Lilly and Company by 159.1% during the 2nd quarter. Retirement Group LLC now owns 57 shares of the company’s stock worth $27,000 after acquiring an additional 35 shares in the last quarter. Cornerstone Planning Group LLC purchased a new stake in shares of Eli Lilly and Company during the 2nd quarter worth about $33,000. Raleigh Capital Management Inc. boosted its stake in shares of Eli Lilly and Company by 156.4% during the 1st quarter. Raleigh Capital Management Inc. now owns 100 shares of the company’s stock worth $34,000 after acquiring an additional 61 shares in the last quarter. Activest Wealth Management purchased a new stake in shares of Eli Lilly and Company during the 2nd quarter worth about $40,000. Finally, RVW Wealth LLC purchased a new stake in shares of Eli Lilly and Company during the 3rd quarter worth about $46,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 215,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $605.44, for a total value of $130,169,600.00. Following the completion of the transaction, the insider now owns 99,768,810 shares of the company’s stock, valued at approximately $60,404,028,326.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 670 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $571.10, for a total value of $382,637.00. Following the completion of the transaction, the chief accounting officer now owns 4,708 shares of the company’s stock, valued at approximately $2,688,738.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Lilly Endowment Inc sold 215,000 shares of the firm’s stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $605.44, for a total transaction of $130,169,600.00. Following the completion of the sale, the insider now owns 99,768,810 shares in the company, valued at $60,404,028,326.40. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. UBS Group reissued a “buy” rating and set a $710.00 target price (up from $612.00) on shares of Eli Lilly and Company in a research note on Friday, October 20th. Argus upped their price target on shares of Eli Lilly and Company from $470.00 to $620.00 and gave the stock a “buy” rating in a research report on Tuesday, September 5th. JPMorgan Chase & Co. restated an “overweight” rating on shares of Eli Lilly and Company in a research report on Wednesday, November 8th. TheStreet downgraded shares of Eli Lilly and Company from a “b” rating to a “c+” rating in a research report on Monday, December 4th. Finally, Morgan Stanley upped their price target on shares of Eli Lilly and Company from $727.00 to $822.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $583.24.

Check Out Our Latest Stock Analysis on LLY

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $583.65 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.82 and a current ratio of 1.05. The stock has a market capitalization of $554.06 billion, a P/E ratio of 105.73, a PEG ratio of 3.54 and a beta of 0.33. The company has a 50 day moving average price of $585.14 and a 200 day moving average price of $540.25. Eli Lilly and Company has a fifty-two week low of $309.20 and a fifty-two week high of $629.97.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.18. The firm had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $8.88 billion. Eli Lilly and Company had a net margin of 15.55% and a return on equity of 48.12%. Equities research analysts forecast that Eli Lilly and Company will post 6.6 EPS for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 4th. Shareholders of record on Thursday, February 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.89%. The ex-dividend date is Wednesday, February 14th. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.13. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 81.88%.

Eli Lilly and Company Profile

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