Eli Lilly and Company (NYSE:LLY) Position Trimmed by Schmidt P J Investment Management Inc.

31 Dec 2023, 17:22 by Sarita Garza · The Markets Daily

Schmidt P J Investment Management Inc. lessened its stake in shares of Eli Lilly and Company (NYSE:LLY – Free Report) by 9.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,287 shares of the company’s stock after selling 2,679 shares during the period. Eli Lilly and Company makes up about 3.1% of Schmidt P J Investment Management Inc.’s portfolio, making the stock its 6th biggest position. Schmidt P J Investment Management Inc.’s holdings in Eli Lilly and Company were worth $14,349,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Guyasuta Investment Advisors Inc. grew its position in Eli Lilly and Company by 4.6% during the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 3,024 shares of the company’s stock worth $1,418,000 after purchasing an additional 132 shares during the last quarter. Baystate Wealth Management LLC boosted its holdings in shares of 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 last quarter. Simon Quick Advisors LLC boosted its holdings in shares of 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 last quarter. Martin Capital Partners LLC purchased a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at $234,000. Finally, Physicians Financial Services Inc. boosted its holdings in shares of Eli Lilly and Company by 1.9% in the 2nd quarter. Physicians Financial Services Inc. now owns 2,718 shares of the company’s stock valued at $1,275,000 after acquiring an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Activity

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 sale, the insider now directly owns 99,768,810 shares in the company, valued at $60,404,028,326.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 sale, the insider now directly owns 99,768,810 shares in the company, valued at $60,404,028,326.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $382,637.00. Following the completion of the sale, 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. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of Eli Lilly and Company from $727.00 to $822.00 and gave the company an “overweight” rating in a report on Tuesday, December 19th. 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 upped their price objective on shares of Eli Lilly and Company from $615.00 to $650.00 and gave the company an “overweight” rating in a report on Monday, October 9th. Truist Financial reaffirmed a “buy” rating and issued a $650.00 price objective on shares of Eli Lilly and Company in a report on Wednesday, November 29th. Finally, StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $583.24.

Check Out Our Latest Analysis on Eli Lilly and Company

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $582.92 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 company has a fifty day moving average of $585.14 and a two-hundred day moving average of $540.91. The stock has a market capitalization of $553.37 billion, a PE ratio of 105.60, a P/E/G ratio of 3.55 and a beta of 0.33. 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 company 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%. As a group, research analysts forecast that Eli Lilly and Company will post 6.6 earnings per share for the current fiscal year.

Eli Lilly and Company Increases Dividend

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

Eli Lilly and Company Profile

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