WESPAC Advisors SoCal LLC Raises Holdings in Eli Lilly and Company (NYSE:LLY)

WESPAC Advisors SoCal LLC grew its stake in Eli Lilly and Company (NYSE:LLY) by 4.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,448 shares of the company’s stock after acquiring an additional 565 shares during the period. Eli Lilly and Company accounts for 2.9% of WESPAC Advisors SoCal LLC’s holdings, making the stock its 10th biggest holding. WESPAC Advisors SoCal LLC’s holdings in Eli Lilly and Company were worth $11,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lipe & Dalton bought a new position in shares of Eli Lilly and Company during the fourth quarter valued at approximately $26,000. Core Wealth Advisors Inc. lifted its position in Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after acquiring an additional 32 shares during the last quarter. Tidemark LLC purchased a new stake in Eli Lilly and Company during the fourth quarter valued at approximately $29,000. Frank Rimerman Advisors LLC purchased a new stake in Eli Lilly and Company during the fourth quarter valued at approximately $37,000. Finally, St. Johns Investment Management Company LLC lifted its position in Eli Lilly and Company by 123.3% during the fourth quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock valued at $39,000 after acquiring an additional 37 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock traded up $8.99 during trading on Monday, hitting $914.37. 2,469,029 shares of the company’s stock were exchanged, compared to its average volume of 2,933,687. The stock has a market capitalization of $869.03 billion, a price-to-earnings ratio of 134.66, a PEG ratio of 1.97 and a beta of 0.41. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The business has a 50-day simple moving average of $814.40 and a 200-day simple moving average of $740.86. Eli Lilly and Company has a 52-week low of $434.34 and a 52-week high of $916.83.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Monday, May 6th. The company reported $2.58 EPS for the quarter, beating the consensus estimate of $2.53 by $0.05. The company had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The firm’s revenue was up 26.0% on a year-over-year basis. During the same quarter last year, the business earned $1.62 earnings per share. On average, research analysts forecast that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Announces Dividend

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 given a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.57%. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

Analyst Ratings Changes

LLY has been the subject of a number of analyst reports. TheStreet raised shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Bank of America reissued a “buy” rating and set a $1,000.00 target price on shares of Eli Lilly and Company in a research report on Monday, June 24th. Truist Financial reaffirmed a “buy” rating and issued a $1,000.00 price target (up previously from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a report on Monday. Finally, Argus raised their price target on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $812.72.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 92,563 shares of Eli Lilly and Company stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $809.21, for a total value of $74,902,905.23. Following the sale, the insider now owns 98,556,247 shares in the company, valued at $79,752,700,634.87. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 92,563 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $809.21, for a total value of $74,902,905.23. Following the sale, the insider now directly owns 98,556,247 shares of the company’s stock, valued at approximately $79,752,700,634.87. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The disclosure for this sale can be found here. Insiders have sold a total of 791,145 shares of company stock worth $673,704,508 over the last 90 days. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company 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.