Portside Wealth Group LLC Purchases 2,103 Shares of Eli Lilly and Company (NYSE:LLY)

by · The Cerbat Gem

Portside Wealth Group LLC grew its position in Eli Lilly and Company (NYSE:LLY – Free Report) by 209.7% in the third quarter, HoldingsChannel.com reports. The fund owned 3,106 shares of the company’s stock after buying an additional 2,103 shares during the period. Portside Wealth Group LLC’s holdings in Eli Lilly and Company were worth $1,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Guyasuta Investment Advisors Inc. raised its stake in Eli Lilly and Company by 4.6% in the second quarter. Guyasuta Investment Advisors Inc. now owns 3,024 shares of the company’s stock valued at $1,418,000 after buying an additional 132 shares during the period. Baystate Wealth Management LLC raised its stake in Eli Lilly and Company by 688.2% in the 2nd quarter. Baystate Wealth Management LLC now owns 3,736 shares of the company’s stock valued at $1,752,000 after acquiring an additional 3,262 shares during the period. Simon Quick Advisors LLC raised its stake in Eli Lilly and Company by 13.0% in the 2nd quarter. Simon Quick Advisors LLC now owns 1,874 shares of the company’s stock valued at $879,000 after acquiring an additional 215 shares during the period. Martin Capital Partners LLC acquired a new stake in Eli Lilly and Company during the 2nd quarter valued at $234,000. Finally, Physicians Financial Services Inc. increased its holdings in shares of Eli Lilly and Company by 1.9% in the second quarter. Physicians Financial Services Inc. now owns 2,718 shares of the company’s stock valued at $1,275,000 after purchasing an additional 50 shares during the last quarter. 81.38% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

NYSE:LLY traded up $6.72 during mid-day trading on Wednesday, reaching $632.20. The stock had a trading volume of 665,596 shares, compared to its average volume of 3,243,058. The stock has a market capitalization of $600.15 billion, a PE ratio of 113.31, a P/E/G ratio of 2.01 and a beta of 0.31. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.05 and a quick ratio of 0.82. The stock has a 50-day simple moving average of $590.62 and a two-hundred day simple moving average of $549.36. Eli Lilly and Company has a 12 month low of $309.20 and a 12 month high of $637.05.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last issued its quarterly earnings data on Thursday, November 2nd. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.18. The business had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $8.88 billion. Eli Lilly and Company had a net margin of 15.55% and a return on equity of 48.12%. On average, equities analysts anticipate that Eli Lilly and Company will post 6.6 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 4th. Investors of record on Thursday, February 15th will be paid a $1.30 dividend. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $5.20 annualized dividend and a yield of 0.82%. Eli Lilly and Company’s dividend payout ratio is presently 81.88%.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 670 shares of the 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 legal filing with the SEC, which is available through the SEC website. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 14,388 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $630.28, for a total value of $9,068,468.64. Following the completion of the transaction, the insider now directly owns 99,754,422 shares in the company, valued at approximately $62,873,217,098.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Donald A. Zakrowski sold 670 shares of the company’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 transaction 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 $2,688,738.80. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LLY. Truist Financial restated a “buy” rating and set a $650.00 target price on shares of Eli Lilly and Company in a research note on Wednesday, November 29th. Cantor Fitzgerald restated an “overweight” rating on shares of Eli Lilly and Company in a report on Monday, December 18th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research report on Wednesday, November 8th. Morgan Stanley lifted their price target on Eli Lilly and Company from $727.00 to $822.00 and gave the stock an “overweight” rating in a report on Tuesday, December 19th. Finally, TheStreet lowered Eli Lilly and Company from a “b” rating to a “c+” rating in a report on Monday, December 4th. One 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $583.24.

Get Our Latest Stock Analysis on Eli Lilly and Company

About Eli Lilly and Company

(Free Report)

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.

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