Spartan Planning & Wealth Management Acquires 683 Shares of Eli Lilly and Company (NYSE:LLY)

Spartan Planning & Wealth Management grew its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 91.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,427 shares of the company’s stock after buying an additional 683 shares during the quarter. Eli Lilly and Company makes up 1.1% of Spartan Planning & Wealth Management’s portfolio, making the stock its 22nd largest position. Spartan Planning & Wealth Management’s holdings in Eli Lilly and Company were worth $1,179,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LLY. Mascagni Wealth Management Inc. acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth $43,000. FPC Investment Advisory Inc. increased its position in Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after acquiring an additional 43 shares during the period. Prudent Man Investment Management Inc. acquired a new stake in Eli Lilly and Company in the 4th quarter worth about $48,000. Compass Financial Services Inc bought a new stake in Eli Lilly and Company in the 4th quarter valued at about $50,000. Finally, Fiduciary Advisors Inc. acquired a new position in shares of Eli Lilly and Company during the 4th quarter worth approximately $58,000. 82.53% of the stock is owned by institutional investors.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the sale, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at $4,778,521.60. The trade was a 14.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $738.33 on Friday. The company has a 50-day simple moving average of $776.85 and a two-hundred day simple moving average of $799.96. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The firm has a market capitalization of $699.74 billion, a PE ratio of 63.05, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48. Eli Lilly and Company has a one year low of $677.09 and a one year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). The business had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.77 billion. Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. Eli Lilly and Company’s revenue for the quarter was up 45.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.58 EPS. On average, analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Friday, May 16th. Eli Lilly and Company’s payout ratio is currently 48.82%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LLY. Guggenheim reaffirmed a “buy” rating on shares of Eli Lilly and Company in a report on Friday, May 23rd. Morgan Stanley reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 target price on the stock. Finally, Hsbc Global Res downgraded shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $1,011.37.

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.