Legacy Wealth Management Inc Invests $332,000 in Eli Lilly and Company (NYSE:LLY)

Legacy Wealth Management Inc acquired a new position in Eli Lilly and Company (NYSE:LLY) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 374 shares of the company’s stock, valued at approximately $332,000.

Several other large investors also recently added to or reduced their stakes in LLY. State of Michigan Retirement System grew its position in Eli Lilly and Company by 12.6% during the first quarter. State of Michigan Retirement System now owns 269,704 shares of the company’s stock valued at $209,819,000 after purchasing an additional 30,200 shares in the last quarter. Financial Security Advisor Inc. grew its holdings in shares of Eli Lilly and Company by 1.4% during the 1st quarter. Financial Security Advisor Inc. now owns 4,194 shares of the company’s stock valued at $3,263,000 after acquiring an additional 58 shares in the last quarter. Naviter Wealth LLC increased its stake in shares of Eli Lilly and Company by 18.3% in the first quarter. Naviter Wealth LLC now owns 4,318 shares of the company’s stock worth $3,359,000 after acquiring an additional 668 shares during the last quarter. Saxon Interests Inc. purchased a new stake in shares of Eli Lilly and Company during the first quarter worth $261,000. Finally, Azzad Asset Management Inc. ADV boosted its position in Eli Lilly and Company by 2.5% during the first quarter. Azzad Asset Management Inc. ADV now owns 1,814 shares of the company’s stock valued at $1,411,000 after purchasing an additional 45 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Barclays raised their price objective on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Citigroup boosted their target price on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Guggenheim raised their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Berenberg Bank lifted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,013.41.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $904.05 on Wednesday. Eli Lilly and Company has a 12 month low of $547.61 and a 12 month high of $972.53. The company has a market cap of $859.21 billion, a P/E ratio of 133.14, a P/E/G ratio of 3.24 and a beta of 0.42. The business’s 50 day moving average is $918.30 and its two-hundred day moving average is $865.23. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $1.28. The business had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. On average, equities analysts expect that Eli Lilly and Company will post 14.05 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

About Eli Lilly and Company

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.