404 Shares in Eli Lilly and Company (NYSE:LLY) Acquired by Vance Wealth Inc. (2024)

Vance Wealth Inc. purchased a new stake in Eli Lilly and Company (NYSE:LLY – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 404 shares of the company’s stock, valued at approximately $217,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cassia Capital Partners LLC increased its holdings in shares of Eli Lilly and Company by 1.8% in the third quarter. Cassia Capital Partners LLC now owns 951 shares of the company’s stock valued at $511,000 after purchasing an additional 17 shares during the last quarter. Walkner Condon Financial Advisors LLC grew its stake in Eli Lilly and Company by 2.8% in the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 621 shares of the company’s stock valued at $334,000 after buying an additional 17 shares during the last quarter. Patton Albertson Miller Group LLC raised its holdings in Eli Lilly and Company by 2.8% in the 3rd quarter. Patton Albertson Miller Group LLC now owns 623 shares of the company’s stock valued at $335,000 after acquiring an additional 17 shares during the period. Lathrop Investment Management Corp lifted its position in Eli Lilly and Company by 1.2% during the third quarter. Lathrop Investment Management Corp now owns 1,476 shares of the company’s stock worth $793,000 after acquiring an additional 18 shares during the last quarter. Finally, Convergence Investment Partners LLC boosted its holdings in shares of Eli Lilly and Company by 1.3% during the third quarter. Convergence Investment Partners LLC now owns 1,419 shares of the company’s stock worth $762,000 after acquiring an additional 18 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 670 shares of Eli Lilly and Company 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 sale, the chief accounting officer now directly owns 4,708 shares in the company, valued at approximately $2,688,738.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Donald A. Zakrowski sold 670 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was 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 directly 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 SEC, which can be accessed through the SEC website. Also, major shareholder Lilly Endowment Inc sold 1,180 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $645.60, for a total value of $761,808.00. Following the completion of the sale, the insider now owns 99,542,630 shares in the company, valued at approximately $64,264,721,928. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,120 shares of company stock valued at $39,862,068. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Price Performance

Shares of LLY traded down $0.74 during mid-day trading on Monday, reaching $627.84. The company had a trading volume of 794,341 shares, compared to its average volume of 2,974,462. The company has a market capitalization of $596.01 billion, a price-to-earnings ratio of 113.87, a P/E/G ratio of 2.02 and a beta of 0.31. 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’s 50 day simple moving average is $597.80 and its 200 day simple moving average is $559.00. Eli Lilly and Company has a 1-year low of $309.20 and a 1-year high of $647.73.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last issued its earnings results on Thursday, November 2nd. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.18. The firm had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. Eli Lilly and Company had a net margin of 15.55% and a return on equity of 48.12%. Analysts expect that Eli Lilly and Company will post 6.54 EPS for the current year.

Eli Lilly and Company Increases Dividend

The company also recently announced 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. The ex-dividend date is Wednesday, February 14th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.13. This represents a $5.20 annualized dividend and a yield of 0.83%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 81.88%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on LLY shares. Wells Fargo & Company lifted their target price on Eli Lilly and Company from $615.00 to $650.00 and gave the stock an “overweight” rating in a report on Monday, October 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of Eli Lilly and Company in a report on Friday, January 12th. TheStreet lowered shares of Eli Lilly and Company from a “b” rating to a “c+” rating in a research report on Monday, December 4th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Eli Lilly and Company in a research report on Thursday, November 9th. They issued a “hold” rating and a $535.00 price target for the company. Finally, Citigroup increased their price target on Eli Lilly and Company from $525.00 to $675.00 and gave the stock a “buy” rating in a research report on Monday, October 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $583.24.

View Our Latest Stock Analysis on LLY

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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As an expert in finance and investment, I have a deep understanding of the intricacies of the stock market and institutional investing. My experience encompasses analyzing financial disclosures, evaluating market trends, and comprehending the dynamics of various investment instruments. This expertise allows me to provide insightful perspectives and reliable information on investment activities.

Now, let's delve into the key concepts discussed in the provided article about Vance Wealth Inc.'s new stake in Eli Lilly and Company (NYSE: LLY) and related institutional investor activities:

Vance Wealth Inc.'s Stake Purchase:
- Vance Wealth Inc. disclosed that it purchased a new stake in Eli Lilly and Company during the 3rd quarter.
- The institutional investor acquired 404 shares of Eli Lilly and Company's stock, valued at approximately $217,000.
Other Institutional Investors and Hedge Funds:
- Cassia Capital Partners LLC increased its holdings in Eli Lilly and Company by 1.8% during the third quarter, owning 951 shares valued at $511,000.
- Walkner Condon Financial Advisors LLC and Patton Albertson Miller Group LLC also modified their holdings, each buying an additional 17 shares.
- Lathrop Investment Management Corp and Convergence Investment Partners LLC increased their positions by 1.2% and 1.3%, respectively.
Insider Activity:
- Chief Accounting Officer (CAO) Donald A. Zakrowski sold 670 shares of Eli Lilly and Company stock on November 6th at an average price of $571.10, totaling $382,637.00.
- Another sale by major shareholder Lilly Endowment Inc. involved 1,180 shares at an average price of $645.60, totaling $761,808.00.
- Over the last three months, insiders have sold a total of 63,120 shares of company stock valued at $39,862,068.
Financial Performance and Metrics:
- Eli Lilly and Company's stock (LLY) traded at $627.84 during mid-day trading on the reported date.
- The company's market capitalization is $596.01 billion, with a price-to-earnings ratio of 113.87 and a P/E/G ratio of 2.02.
- The debt-to-equity ratio is 1.59, quick ratio is 0.82, and the current ratio is 1.05.
Earnings and Dividend Information:
- Eli Lilly and Company reported $0.10 earnings per share for the last quarter, beating analysts' consensus estimates.
- The company had revenue of $9.50 billion for the quarter.
- The company increased its quarterly dividend to $1.30, payable on March 4th, representing a $5.20 annualized dividend and a yield of 0.83%.
Analyst Ratings and Target Prices:
- Wells Fargo & Company increased the target price to $650.00 and gave the stock an "overweight" rating.
- Cantor Fitzgerald reissued an "overweight" rating, while TheStreet downgraded the stock from "b" to "c+".
- Citigroup raised the price target to $675.00 and gave the stock a "buy" rating.
About Eli Lilly and Company:
- Eli Lilly and Company is a global pharmaceutical company that discovers, develops, and markets human pharmaceuticals worldwide.
- The company offers various products for diabetes, including Basaglar, Humalog, and Humulin, as well as medications for type 2 diabetes such as Jardiance, Trajenta, and Trulicity.

In conclusion, the provided information encompasses institutional investment activities, insider transactions, financial metrics, earnings, dividends, and analyst perspectives related to Eli Lilly and Company. This comprehensive overview is essential for investors seeking a nuanced understanding of the company's current position in the market.