Peregrine Asset Advisers Inc. Has $6.88 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Peregrine Asset Advisers Inc. lessened its stake in Eli Lilly and Company (NYSE:LLY) by 21.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,596 shares of the company’s stock after selling 2,030 shares during the quarter. Eli Lilly and Company makes up about 2.7% of Peregrine Asset Advisers Inc.’s holdings, making the stock its 5th largest position. Peregrine Asset Advisers Inc.’s holdings in Eli Lilly and Company were worth $6,877,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of LLY. Tidemark LLC purchased a new position in shares of Eli Lilly and Company in the 4th quarter worth approximately $29,000. Core Wealth Advisors Inc. boosted its position in Eli Lilly and Company by 188.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 32 shares during the last quarter. Lynx Investment Advisory bought a new position in Eli Lilly and Company in the 2nd quarter valued at $32,000. LGT Financial Advisors LLC purchased a new stake in shares of Eli Lilly and Company during the 2nd quarter valued at $36,000. Finally, Frank Rimerman Advisors LLC bought a new stake in shares of Eli Lilly and Company during the 4th quarter worth $37,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 1,441 shares of Eli Lilly and Company stock in a transaction on Friday, June 28th. The shares were sold at an average price of $915.02, for a total value of $1,318,543.82. Following the transaction, the insider now owns 97,367,369 shares in the company, valued at approximately $89,093,089,982.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 451,900 shares of company stock valued at $418,732,178. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on LLY shares. BMO Capital Markets lifted their price objective on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Berenberg Bank upped their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday. Jefferies Financial Group boosted their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, Truist Financial reiterated a “buy” rating and set a $1,000.00 price target (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $977.35.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $924.05 on Tuesday. The company’s 50 day simple moving average is $897.24 and its two-hundred day simple moving average is $835.09. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $972.53. The stock has a market capitalization of $878.22 billion, a PE ratio of 136.09, a P/E/G ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The company had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. Analysts predict that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were issued a $1.30 dividend. The ex-dividend date was Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.56%. Eli Lilly and Company’s payout ratio is 76.58%.

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.