Eli Lilly and Company $LLY Shares Sold by Laraway Financial Advisors Inc

Key Points

• Laraway Financial Advisors Inc reduced its holdings in Eli Lilly by 76.7%, now owning 2,794 shares valued at approximately $2.3 million, making it the firm's 13th largest position.
• Insider activity saw EVP Daniel Skovronsky and director Gabrielle Sulzberger purchasing shares, signaling confidence in the company's future with a significant total transaction value of over $700,000.
• Several research firms have downgraded Eli Lilly's stock, lowering price targets, but the company still has a consensus rating of "Moderate Buy" and a target price of $950.17.

Laraway Financial Advisors Inc trimmed its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 76.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,794 shares of the company's stock after selling 9,175 shares during the period. Eli Lilly and Company makes up 1.8% of Laraway Financial Advisors Inc's portfolio, making the stock its 13th biggest position. Laraway Financial Advisors Inc's holdings in Eli Lilly and Company were worth $2,308,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WestEnd Advisors LLC increased its holdings 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 valued at $26,000 after acquiring an additional 21 shares during the last quarter. Citizens National Bank Trust Department increased its stake in Eli Lilly and Company by 180.0% during the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after purchasing an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of Eli Lilly and Company during the first quarter worth $40,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth $43,000. Finally, O Brien Wealth Partners LLC lifted its position in shares of Eli Lilly and Company by 25.5% in the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock worth $49,000 after buying an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Insider Activity

In other Eli Lilly and Company news, EVP Daniel Skovronsky bought 1,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average cost of $634.40 per share, for a total transaction of $634,400.00. Following the acquisition, the executive vice president directly owned 137,660 shares of the company's stock, valued at $87,331,504. This trade represents a 0.73% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gabrielle Sulzberger bought 117 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average price of $641.18 per share, with a total value of $75,018.06. Following the completion of the acquisition, the director directly owned 2,703 shares of the company's stock, valued at $1,733,109.54. This represents a 4.52% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 4,514 shares of company stock valued at $2,894,841 over the last quarter. Insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LLY. HSBC lowered shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their price objective for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Hsbc Global Res cut Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Erste Group Bank downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Guggenheim dropped their target price on Eli Lilly and Company from $942.00 to $875.00 and set a "buy" rating on the stock in a research report on Wednesday, August 13th. Finally, Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $950.17.

Eli Lilly and Company Trading Up 2.5%

Eli Lilly and Company stock opened at $701.51 on Monday. Eli Lilly and Company has a 12-month low of $623.78 and a 12-month high of $972.53. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00. The stock has a market capitalization of $663.95 billion, a PE ratio of 45.85, a price-to-earnings-growth ratio of 0.98 and a beta of 0.44. The firm has a 50 day simple moving average of $764.55 and a 200-day simple moving average of $794.43.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, topping analysts' consensus estimates of $5.59 by $0.72. The firm had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%. During the same period in the prior year, the firm posted $3.92 earnings per share. The firm's revenue for the quarter was up 37.6% compared to the same quarter last year. As a group, equities research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 15th. 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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