Adapt Wealth Advisors LLC Trims Stake in Eli Lilly and Company (NYSE:LLY)

Adapt Wealth Advisors LLC lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 3.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,412 shares of the company’s stock after selling 56 shares during the period. Eli Lilly and Company accounts for approximately 0.8% of Adapt Wealth Advisors LLC’s portfolio, making the stock its 28th biggest holding. Adapt Wealth Advisors LLC’s holdings in Eli Lilly and Company were worth $1,278,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Lynx Investment Advisory purchased a new stake in Eli Lilly and Company in the 2nd quarter worth approximately $32,000. LGT Financial Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the second quarter worth $36,000. Morton Brown Family Wealth LLC increased its stake in Eli Lilly and Company by 45.5% in the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock valued at $41,000 after purchasing an additional 15 shares during the last quarter. Core Wealth Advisors Inc. lifted its position in Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after buying an additional 32 shares during the period. Finally, Activest Wealth Management purchased a new position in Eli Lilly and Company during the first quarter worth about $39,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $902.71 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The business’s 50-day moving average price is $895.97 and its 200 day moving average price is $828.57. Eli Lilly and Company has a 52-week low of $516.57 and a 52-week high of $972.53. The firm has a market cap of $857.96 billion, a P/E ratio of 132.95, a PEG ratio of 2.73 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The company had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. As a group, sell-side analysts predict that Eli Lilly and Company will post 16.51 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.58%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Analyst Ratings Changes

LLY has been the subject of a number of research analyst reports. Guggenheim upped their price objective on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Jefferies Financial Group increased their price target on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday. Truist Financial restated a “buy” rating and set a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Finally, Argus lifted their target price on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $961.76.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the sale, the insider now directly owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 661,900 shares of company stock valued at $604,721,602 in the last three months. 0.13% of the stock is currently owned by corporate insiders.

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.