Heck Capital Advisors LLC Trims Position in Eli Lilly and Company (NYSE:LLY)

Heck Capital Advisors LLC lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 97.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 56 shares of the company’s stock after selling 2,589 shares during the period. Heck Capital Advisors LLC’s holdings in Eli Lilly and Company were worth $46,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Knightsbridge Asset Management LLC grew its position in Eli Lilly and Company by 1.9% in the 4th quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company’s stock valued at $628,000 after acquiring an additional 15 shares in the last quarter. LS Investment Advisors LLC grew its position in Eli Lilly and Company by 1.7% in the 1st quarter. LS Investment Advisors LLC now owns 2,340 shares of the company’s stock valued at $1,933,000 after acquiring an additional 40 shares in the last quarter. Prism Advisors Inc. acquired a new position in Eli Lilly and Company in the 1st quarter valued at about $207,000. CSM Advisors LLC grew its position in Eli Lilly and Company by 30.6% in the 4th quarter. CSM Advisors LLC now owns 1,045 shares of the company’s stock valued at $807,000 after acquiring an additional 245 shares in the last quarter. Finally, Hemington Wealth Management grew its position in Eli Lilly and Company by 14.4% in the 1st quarter. Hemington Wealth Management now owns 985 shares of the company’s stock valued at $813,000 after acquiring an additional 124 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on LLY shares. Erste Group Bank downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, June 5th. HSBC downgraded Eli Lilly and Company from a “buy” rating to a “reduce” rating and dropped their target price for the company from $1,150.00 to $700.00 in a research report 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 note on Monday, April 28th. Leerink Partners reiterated a “market perform” rating and issued a $715.00 price objective on shares of Eli Lilly and Company in a research note on Thursday, August 7th. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $964.88.

Eli Lilly and Company Price Performance

LLY stock opened at $660.41 on Thursday. The business has a 50 day moving average price of $767.52 and a 200 day moving average price of $796.25. The stock has a market cap of $625.05 billion, a price-to-earnings ratio of 43.16, a PEG ratio of 0.90 and a beta of 0.44. Eli Lilly and Company has a fifty-two week low of $623.78 and a fifty-two week high of $972.53. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.59 by $0.72. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%. The company had revenue of $15.56 billion during the quarter, compared to analysts’ expectations of $14.40 billion. During the same quarter in the previous year, the business earned $3.92 earnings per share. The firm’s revenue for the quarter was up 37.6% on a year-over-year basis. Equities research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $1.50 dividend. The ex-dividend date is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a yield of 0.9%. Eli Lilly and Company’s payout ratio is currently 39.22%.

Insider Buying and Selling

In other news, Director Gabrielle Sulzberger acquired 117 shares of Eli Lilly and Company stock in a transaction on Tuesday, August 12th. The stock was bought at an average price of $641.18 per share, for a total transaction of $75,018.06. Following the completion of the purchase, the director owned 2,703 shares in the company, valued at $1,733,109.54. This represents a 4.52% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jamere Jackson acquired 200 shares of Eli Lilly and Company stock in a transaction on Friday, August 8th. The stock was purchased at an average price of $639.56 per share, with a total value of $127,912.00. Following the purchase, the director owned 9,402 shares of the company’s stock, valued at $6,013,143.12. The trade was a 2.17% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 4,514 shares of company stock valued at $2,894,841 in the last 90 days. Company insiders own 0.13% of the company’s stock.

About Eli Lilly and Company

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.