Prosperity Financial Group Inc. Purchases 79 Shares of Eli Lilly and Company (NYSE:LLY)

14 Dec 2023, 18:16 by Tristan Rich · The Markets Daily

Prosperity Financial Group Inc. increased its position in shares of Eli Lilly and Company (NYSE:LLY – Free Report) by 5.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,424 shares of the company’s stock after acquiring an additional 79 shares during the quarter. Prosperity Financial Group Inc.’s holdings in Eli Lilly and Company were worth $668,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Retirement Group LLC lifted its stake in Eli Lilly and Company by 159.1% in the second quarter. Retirement Group LLC now owns 57 shares of the company’s stock valued at $27,000 after buying an additional 35 shares in the last quarter. Cornerstone Planning Group LLC bought a new stake in shares of Eli Lilly and Company in the second quarter worth $33,000. Raleigh Capital Management Inc. lifted its position in shares of Eli Lilly and Company by 156.4% in the first quarter. Raleigh Capital Management Inc. now owns 100 shares of the company’s stock worth $34,000 after purchasing an additional 61 shares in the last quarter. Activest Wealth Management bought a new stake in shares of Eli Lilly and Company in the second quarter worth $40,000. Finally, VitalStone Financial LLC bought a new stake in shares of Eli Lilly and Company in the second quarter worth $60,000. Institutional investors own 81.38% of the company’s stock.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 215,000 shares of the stock in a transaction dated 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 $60,404,028,326.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Donald A. Zakrowski sold 670 shares of the stock in a transaction dated 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 $2,688,738.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 215,000 shares of the company’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 directly owns 99,768,810 shares of the company’s stock, valued at approximately $60,404,028,326.40. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Up 2.3 %

LLY opened at $598.07 on Thursday. Eli Lilly and Company has a twelve month low of $309.20 and a twelve month high of $629.97. The company has a 50-day simple moving average of $588.85 and a 200 day simple moving average of $529.46. The company has a quick ratio of 0.82, a current ratio of 1.05 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $567.75 billion, a price-to-earnings ratio of 108.35, a P/E/G ratio of 3.55 and a beta of 0.33.

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 the consensus estimate of ($0.08) by $0.18. The business 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%. Analysts predict that Eli Lilly and Company will post 6.62 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 4th. Stockholders of record on Thursday, February 15th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.87%. This is a boost from Eli Lilly and Company’s previous quarterly dividend of $1.13. Eli Lilly and Company’s dividend payout ratio is 81.88%.

Analysts Set New Price Targets

A number of analysts have recently commented on LLY shares. UBS Group reissued a “buy” rating and issued a $710.00 price objective (up previously from $612.00) on shares of Eli Lilly and Company in a research report on Friday, October 20th. Morgan Stanley boosted their target price on shares of Eli Lilly and Company from $673.00 to $722.00 and gave the stock an “overweight” rating in a report on Friday, November 3rd. TheStreet downgraded shares of Eli Lilly and Company from a “b” rating to a “c+” rating in a report on Monday, December 4th. Wells Fargo & Company boosted their target price on shares of Eli Lilly and Company from $615.00 to $650.00 and gave the stock an “overweight” rating in a report on Monday, October 9th. Finally, JPMorgan Chase & Co. restated an “overweight” rating on shares of Eli Lilly and Company in a report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $570.82.

View Our Latest Report on Eli Lilly and Company

Eli Lilly and Company Profile

(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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