Eli Lilly and Company $LLY Shares Purchased by Salem Investment Counselors Inc.

Key Points

• Salem Investment Counselors Inc. increased its holdings in Eli Lilly to 71,869 shares, making it the 11th largest position in their portfolio, worth about $56 million.
• The company recently posted $6.31 earnings per share for the quarter, surpassing estimates, with a revenue of $15.56 billion, marking a 37.6% increase from the previous year.
• Eli Lilly announced a quarterly dividend of $1.50 per share, which results in an annual yield of 0.8% and a payout ratio of 39.22%.

Salem Investment Counselors Inc. boosted its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 71,869 shares of the company's stock after purchasing an additional 426 shares during the quarter. Eli Lilly and Company comprises approximately 1.8% of Salem Investment Counselors Inc.'s investment portfolio, making the stock its 11th largest position. Salem Investment Counselors Inc.'s holdings in Eli Lilly and Company were worth $56,024,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. WestEnd Advisors LLC increased its stake in shares of Eli Lilly and Company by 210.0% in the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after acquiring an additional 21 shares during the last quarter. Wealth Preservation Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the 1st quarter worth $27,000. Citizens National Bank Trust Department increased its stake in shares of Eli Lilly and Company by 180.0% in the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after acquiring an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of Eli Lilly and Company in the 1st quarter worth $40,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of Eli Lilly and Company in the 4th quarter worth $43,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LLY has been the subject of a number of recent research reports. HSBC raised Eli Lilly and Company from a "reduce" rating to a "hold" rating and raised their target price for the stock from $675.00 to $700.00 in a research note on Wednesday, August 27th. Hsbc Global Res raised Eli Lilly and Company from a "moderate sell" rating to a "hold" rating in a research note on Wednesday, August 27th. Guggenheim cut their target price on Eli Lilly and Company from $942.00 to $875.00 and set a "buy" rating for the company in a research note on Wednesday, August 13th. Wall Street Zen raised Eli Lilly and Company from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 30th. Finally, Erste Group Bank downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $941.35.

Insider Activity

In other Eli Lilly and Company news, Director Jamere Jackson bought 200 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average price of $639.56 per share, for a total transaction of $127,912.00. Following the completion of the purchase, the director directly owned 9,402 shares in the company, valued at $6,013,143.12. This trade represents a 2.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel Skovronsky bought 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average price of $634.40 per share, with a total value of $634,400.00. Following the purchase, the executive vice president owned 137,660 shares of the company's stock, valued at $87,331,504. The trade was a 0.73% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 4,514 shares of company stock valued at $2,894,841 over the last 90 days. Insiders own 0.14% of the company's stock.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $748.26 on Tuesday. The stock has a 50-day simple moving average of $740.54 and a 200-day simple moving average of $774.30. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28. The stock has a market capitalization of $708.20 billion, a PE ratio of 48.91, a PEG ratio of 1.05 and a beta of 0.47. Eli Lilly and Company has a 1 year low of $623.78 and a 1 year high of $939.86.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.59 by $0.72. The business had revenue of $15.56 billion during the quarter, compared to analysts' expectations of $14.40 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.The business's quarterly revenue was up 37.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.92 EPS. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. On average, analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were paid a dividend of $1.50 per share. The ex-dividend date was Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.8%. Eli Lilly and Company's payout ratio is presently 39.22%.

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.

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