Raymond James & Associates Has $927.38 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Raymond James & Associates boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 9.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,024,304 shares of the company’s stock after acquiring an additional 88,549 shares during the period. Eli Lilly and Company makes up approximately 0.6% of Raymond James & Associates’ investment portfolio, making the stock its 25th largest holding. Raymond James & Associates owned 0.11% of Eli Lilly and Company worth $927,384,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tidemark LLC bought a new position in Eli Lilly and Company during the 4th quarter worth $29,000. Core Wealth Advisors Inc. increased its position in shares of Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 32 shares during the period. Lynx Investment Advisory bought a new stake in Eli Lilly and Company during the second quarter valued at approximately $32,000. Frank Rimerman Advisors LLC bought a new position in shares of Eli Lilly and Company during the 4th quarter valued at $37,000. Finally, St. Johns Investment Management Company LLC grew its stake in shares of Eli Lilly and Company by 123.3% in the fourth quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock worth $39,000 after purchasing an additional 37 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LLY has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and increased their target price for the stock from $725.00 to $1,025.00 in a report on Monday, August 12th. BMO Capital Markets upped their target price 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 note on Friday, August 9th. Morgan Stanley reissued an “overweight” rating and issued a $1,023.00 price target on shares of Eli Lilly and Company in a research report on Friday, July 5th. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, August 5th. Finally, Berenberg Bank lifted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $956.88.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the transaction, the insider now directly owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the transaction, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the completion of the transaction, the insider now owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,214,704 shares of company stock worth $1,066,841,316. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Down 1.0 %

Eli Lilly and Company stock traded down $9.46 during midday trading on Friday, hitting $922.12. The stock had a trading volume of 2,364,894 shares, compared to its average volume of 3,096,824. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The business has a fifty day moving average price of $878.93 and a 200 day moving average price of $805.16. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $966.10. The stock has a market cap of $876.39 billion, a P/E ratio of 135.81, a P/E/G ratio of 1.81 and a beta of 0.41.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.56%. Eli Lilly and Company’s dividend payout ratio (DPR) 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.