Wedbush Securities Inc. Sells 1,624 Shares of Eli Lilly and Company $LLY

Wedbush Securities Inc. lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 9.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,913 shares of the company’s stock after selling 1,624 shares during the period. Wedbush Securities Inc.’s holdings in Eli Lilly and Company were worth $12,405,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Wealth Preservation Advisors LLC purchased a new stake in Eli Lilly and Company in the first quarter worth $27,000. Blume Capital Management Inc. grew its holdings in shares of Eli Lilly and Company by 46.7% in the second quarter. Blume Capital Management Inc. now owns 44 shares of the company’s stock worth $34,000 after purchasing an additional 14 shares during the last quarter. IMG Wealth Management Inc. bought a new position in shares of Eli Lilly and Company in the second quarter worth about $35,000. Financial Gravity Asset Management Inc. purchased a new position in Eli Lilly and Company in the 1st quarter worth about $40,000. Finally, TD Capital Management LLC lifted its holdings in Eli Lilly and Company by 129.2% during the 1st quarter. TD Capital Management LLC now owns 55 shares of the company’s stock valued at $46,000 after buying an additional 31 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Daniel Skovronsky acquired 1,000 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased at an average price of $634.40 per share, for a total transaction of $634,400.00. Following the purchase, the executive vice president directly owned 137,660 shares in the company, valued at $87,331,504. The trade was a 0.73% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director J Erik Fyrwald purchased 1,565 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was purchased at an average cost of $642.33 per share, for a total transaction of $1,005,246.45. Following the completion of the acquisition, the director directly owned 74,578 shares of the company’s stock, valued at approximately $47,903,686.74. The trade was a 2.14% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 4,314 shares of company stock worth $2,766,929 in the last quarter. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Stock Down 1.5%

Shares of NYSE LLY opened at $923.35 on Friday. Eli Lilly and Company has a 12-month low of $623.78 and a 12-month high of $955.46. The stock’s fifty day simple moving average is $799.97 and its two-hundred day simple moving average is $775.76. The stock has a market capitalization of $872.92 billion, a PE ratio of 60.35, a price-to-earnings-growth ratio of 1.21 and a beta of 0.43. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, October 30th. The company reported $7.02 EPS for the quarter, topping the consensus estimate of $6.42 by $0.60. The firm had revenue of $17.60 billion during the quarter, compared to analyst estimates of $16.09 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.The business’s revenue for the quarter was up 53.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.18 EPS. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. As a group, analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, November 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 29.35%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LLY. BMO Capital Markets upped their target price on shares of Eli Lilly and Company from $930.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Thursday. Guggenheim reiterated a “buy” rating and issued a $948.00 price target on shares of Eli Lilly and Company in a report on Thursday, October 16th. Daiwa Capital Markets downgraded Eli Lilly and Company from an “outperform” rating to a “neutral” rating and set a $700.00 price objective on the stock. in a report on Sunday, August 17th. Deutsche Bank Aktiengesellschaft decreased their target price on Eli Lilly and Company from $1,010.00 to $900.00 and set a “buy” rating for the company in a research report on Monday, August 11th. Finally, Berenberg Bank reiterated a “hold” rating and issued a $830.00 target price (down from $970.00) on shares of Eli Lilly and Company in a report on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $960.88.

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.