Eli Lilly and Company (NYSE:LLY) Stake Lessened by Hutchens & Kramer Investment Management Group LLC

Hutchens & Kramer Investment Management Group LLC reduced its position in shares of Eli Lilly and Company (NYSE:LLY) by 0.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,649 shares of the company’s stock after selling 40 shares during the quarter. Eli Lilly and Company accounts for approximately 16.4% of Hutchens & Kramer Investment Management Group LLC’s investment portfolio, making the stock its biggest holding. Hutchens & Kramer Investment Management Group LLC’s holdings in Eli Lilly and Company were worth $20,471,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Fairfield Bush & CO. purchased a new position in Eli Lilly and Company in the 1st quarter valued at about $107,000. Roundview Capital LLC lifted its stake in Eli Lilly and Company by 2.6% in the 1st quarter. Roundview Capital LLC now owns 2,056 shares of the company’s stock valued at $589,000 after buying an additional 53 shares in the last quarter. Merit Financial Group LLC purchased a new position in Eli Lilly and Company in the 1st quarter valued at about $210,000. NewEdge Advisors LLC lifted its stake in Eli Lilly and Company by 9.9% in the 1st quarter. NewEdge Advisors LLC now owns 53,052 shares of the company’s stock valued at $15,193,000 after buying an additional 4,774 shares in the last quarter. Finally, Barometer Capital Management Inc. purchased a new position in Eli Lilly and Company in the 1st quarter valued at about $561,000. 81.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 591 shares of the stock in a transaction on Friday, July 21st. The stock was sold at an average price of $466.62, for a total transaction of $275,772.42. Following the completion of the sale, the insider now owns 101,028,219 shares in the company, valued at approximately $47,141,787,549.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 591 shares of the business’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $466.62, for a total transaction of $275,772.42. Following the sale, the insider now directly owns 101,028,219 shares of the company’s stock, valued at approximately $47,141,787,549.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Alonzo Weems sold 1,148 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $590.98, for a total transaction of $678,445.04. Following the completion of the sale, the executive vice president now owns 7,760 shares of the company’s stock, valued at approximately $4,586,004.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,010,309 shares of company stock worth $21,095,701,670. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

LLY traded down $4.90 during trading on Monday, reaching $570.76. The stock had a trading volume of 1,760,400 shares, compared to its average volume of 3,031,695. The firm has a market capitalization of $541.82 billion, a price-to-earnings ratio of 79.56, a price-to-earnings-growth ratio of 2.44 and a beta of 0.32. The company has a quick ratio of 0.87, a current ratio of 1.13 and a debt-to-equity ratio of 1.63. Eli Lilly and Company has a 1-year low of $296.32 and a 1-year high of $601.84. The stock has a 50 day moving average of $512.56 and a two-hundred day moving average of $439.28.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.13. Eli Lilly and Company had a return on equity of 65.00% and a net margin of 22.01%. The company had revenue of $8.31 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. As a group, equities analysts anticipate that Eli Lilly and Company will post 9.84 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Tuesday, August 15th were given a dividend of $1.13 per share. The ex-dividend date was Monday, August 14th. This represents a $4.52 dividend on an annualized basis and a dividend yield of 0.79%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 62.87%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Credit Suisse Group raised their price target on shares of Eli Lilly and Company from $490.00 to $580.00 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. Truist Financial boosted their price target on shares of Eli Lilly and Company from $525.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Morgan Stanley lifted their price objective on shares of Eli Lilly and Company from $617.00 to $640.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 5th. Bank of America lifted their price objective on shares of Eli Lilly and Company from $500.00 to $600.00 in a research report on Wednesday, August 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $630.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, September 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus price target of $532.78.

Eli Lilly and Company Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. It 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; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.