Phoenix Wealth Advisors Purchases New Position in Eli Lilly and Company (NYSE:LLY) (2024)

Phoenix Wealth Advisors purchased a new stake in Eli Lilly and Company (NYSE:LLY – Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 406 shares of the company’s stock, valued at approximately $218,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Baystate Wealth Management LLC grew its holdings in Eli Lilly and Company by 688.2% during the second quarter. Baystate Wealth Management LLC now owns 3,736 shares of the company’s stock worth $1,752,000 after acquiring an additional 3,262 shares during the period. Simon Quick Advisors LLC grew its holdings in Eli Lilly and Company by 13.0% during the second quarter. Simon Quick Advisors LLC now owns 1,874 shares of the company’s stock worth $879,000 after acquiring an additional 215 shares during the period. Physicians Financial Services Inc. grew its holdings in Eli Lilly and Company by 1.9% during the second quarter. Physicians Financial Services Inc. now owns 2,718 shares of the company’s stock worth $1,275,000 after acquiring an additional 50 shares during the period. HF Advisory Group LLC grew its holdings in Eli Lilly and Company by 4.9% during the second quarter. HF Advisory Group LLC now owns 3,629 shares of the company’s stock worth $1,702,000 after acquiring an additional 170 shares during the period. Finally, Rooted Wealth Advisors Inc. acquired a new position in Eli Lilly and Company during the second quarter worth $220,000. 81.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. UBS Group reissued a “buy” rating and issued a $710.00 target price (up previously from $612.00) on shares of Eli Lilly and Company in a report on Friday, October 20th. Morgan Stanley upped their target price on Eli Lilly and Company from $727.00 to $822.00 and gave the company an “overweight” rating in a report on Tuesday, December 19th. Bank of America upped their target price on Eli Lilly and Company from $600.00 to $700.00 in a report on Friday, October 6th. Wells Fargo & Company upped their target price on Eli Lilly and Company from $650.00 to $700.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Truist Financial reaffirmed a “buy” rating and set a $650.00 price objective on shares of Eli Lilly and Company in a research note on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have given 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 $589.90.

Check Out Our Latest Analysis on LLY

Eli Lilly and Company Trading Up 1.9 %

Shares of Eli Lilly and Company stock traded up $11.63 during trading hours on Friday, reaching $639.25. The stock had a trading volume of 2,410,349 shares, compared to its average volume of 2,606,563. The firm has a 50 day simple moving average of $601.16 and a two-hundred day simple moving average of $563.68. The firm has a market capitalization of $606.84 billion, a price-to-earnings ratio of 115.81, a P/E/G ratio of 2.02 and a beta of 0.31. The company has a current ratio of 1.05, a quick ratio of 0.82 and a debt-to-equity ratio of 1.59. 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 released its quarterly earnings data on Thursday, November 2nd. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.18. The company had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $8.88 billion. Eli Lilly and Company had a return on equity of 48.12% and a net margin of 15.55%. As a group, equities research analysts anticipate that Eli Lilly and Company will post 6.63 earnings per share for the current year.

Eli Lilly and Company Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 8th. Investors of record on Thursday, February 15th will be issued a dividend of $1.30 per share. 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 dividend yield of 0.81%. The ex-dividend date is Wednesday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 94.20%.

Insider Activity at Eli Lilly and Company

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 stock was 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 in the company, 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 firm’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $630.28, for a total transaction of $9,068,468.64. Following the completion of the sale, the insider now owns 99,754,422 shares in the company, valued at approximately $62,873,217,098.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Donald A. Zakrowski sold 670 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, November 6th. The stock was 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 63,120 shares of company stock worth $39,862,068. 0.13% of the stock is currently owned by company insiders.

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.