Cahaba Wealth Management Inc. Sells 153 Shares of Eli Lilly and Company (NYSE:LLY)

Cahaba Wealth Management Inc. lowered its holdings in Eli Lilly and Company (NYSE:LLY) by 10.0% in the second quarter, Holdings Channel reports. The firm owned 1,376 shares of the company’s stock after selling 153 shares during the quarter. Cahaba Wealth Management Inc.’s holdings in Eli Lilly and Company were worth $1,246,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of LLY. Lynx Investment Advisory acquired a new position in Eli Lilly and Company during the second quarter worth approximately $32,000. LGT Financial Advisors LLC acquired a new position in shares of Eli Lilly and Company during the 2nd quarter worth approximately $36,000. Morton Brown Family Wealth LLC raised its stake in Eli Lilly and Company by 45.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after acquiring an additional 15 shares during the period. Core Wealth Advisors Inc. lifted its holdings in Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after purchasing an additional 32 shares during the last quarter. Finally, Activest Wealth Management bought a new position in Eli Lilly and Company during the first quarter worth $39,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 1.1 %

Shares of LLY opened at $902.71 on Friday. The firm has a 50 day simple moving average of $895.97 and a two-hundred day simple moving average of $827.49. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. Eli Lilly and Company has a one year low of $516.57 and a one year high of $972.53. The company has a market cap of $857.94 billion, a P/E ratio of 132.95, a P/E/G ratio of 2.91 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. Research analysts forecast that Eli Lilly and Company will post 16.51 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.58%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LLY. Morgan Stanley restated an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Argus boosted their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. JPMorgan Chase & Co. increased their target price on Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. BMO Capital Markets boosted their price target on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Finally, Bank of America increased their price objective on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus target price of $961.76.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 15,022 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $882.47, for a total transaction of $13,256,464.34. Following the completion of the transaction, the insider now directly owns 97,778,788 shares in the company, valued at $86,286,847,046.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 737,410 shares of company stock worth $669,719,100. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company 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; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.