West Paces Advisors Inc. Has $2.52 Million Stake in Eli Lilly and Company (NYSE:LLY)

West Paces Advisors Inc. decreased its position in shares of Eli Lilly and Company (NYSE:LLY) by 1.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,788 shares of the company’s stock after selling 43 shares during the period. Eli Lilly and Company accounts for 0.7% of West Paces Advisors Inc.’s investment portfolio, making the stock its 22nd biggest holding. West Paces Advisors Inc.’s holdings in Eli Lilly and Company were worth $2,524,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Lynx Investment Advisory acquired a new position in Eli Lilly and Company in the second quarter worth about $32,000. Lipe & Dalton bought a new stake in Eli Lilly and Company during the fourth quarter worth about $26,000. Core Wealth Advisors Inc. grew its stake 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 last quarter. Activest Wealth Management bought a new stake in Eli Lilly and Company during the first quarter worth about $39,000. Finally, Tidemark LLC bought a new stake in Eli Lilly and Company during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Jefferies Financial Group upped their price objective 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. Barclays increased their price target on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Argus increased their price target on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Berenberg Bank raised their price objective on shares of 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, August 5th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $948.29.

Eli Lilly and Company Stock Up 0.1 %

Shares of NYSE:LLY traded up $1.20 during midday trading on Thursday, reaching $931.58. 3,047,801 shares of the company were exchanged, compared to its average volume of 3,102,805. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week high of $966.10. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The stock has a fifty day simple moving average of $875.61 and a two-hundred day simple moving average of $801.22. The firm has a market cap of $885.38 billion, a PE ratio of 137.16, a P/E/G ratio of 1.81 and a beta of 0.41.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued 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 0.56%. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the transaction, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the transaction, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the transaction, the insider now directly owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,214,704 shares of company stock worth $1,066,841,316 over the last ninety 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.