Proffitt & Goodson Inc. Makes New $53,000 Investment in Eli Lilly and Company (NYSE:LLY)

Proffitt & Goodson Inc. purchased a new stake in shares of Eli Lilly and Company (NYSE:LLY) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 59 shares of the company’s stock, valued at approximately $53,000.

A number of other institutional investors have also recently made changes to their positions in the company. Koa Wealth Management LLC purchased a new position in shares of Eli Lilly and Company during the second quarter valued at approximately $216,000. Moss Adams Wealth Advisors LLC lifted its holdings in Eli Lilly and Company by 29.1% during the second quarter. Moss Adams Wealth Advisors LLC now owns 2,168 shares of the company’s stock valued at $1,963,000 after purchasing an additional 489 shares in the last quarter. American National Bank boosted its position in shares of Eli Lilly and Company by 1.5% in the second quarter. American National Bank now owns 6,595 shares of the company’s stock worth $5,971,000 after purchasing an additional 100 shares during the period. Madison Park Capital Advisors LLC increased its stake in shares of Eli Lilly and Company by 4.1% in the second quarter. Madison Park Capital Advisors LLC now owns 560 shares of the company’s stock worth $507,000 after purchasing an additional 22 shares in the last quarter. Finally, RMR Wealth Builders raised its holdings in Eli Lilly and Company by 7.0% during the second quarter. RMR Wealth Builders now owns 4,466 shares of the company’s stock valued at $4,043,000 after acquiring an additional 294 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value of $197,362,200.00. Following the completion of the transaction, the insider now owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction on 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 directly 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 is accessible through the SEC website. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction dated 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 approximately $91,109,731,514.20. The disclosure for this sale can be found here. Insiders sold a total of 1,214,704 shares of company stock worth $1,066,841,316 in the last three months. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY stock traded up $2.22 during mid-day trading on Thursday, reaching $954.19. The stock had a trading volume of 3,181,057 shares, compared to its average volume of 3,102,731. Eli Lilly and Company has a 1-year low of $516.57 and a 1-year high of $972.53. 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 firm has a market cap of $906.87 billion, a price-to-earnings ratio of 141.57, a PEG ratio of 1.81 and a beta of 0.41. The business’s fifty day moving average is $883.39 and its 200-day moving average is $811.11.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

Analysts Set New Price Targets

LLY has been the subject of several research analyst reports. Jefferies Financial Group raised their target price on shares of 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. Barclays raised their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday. Bank of America increased their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. lifted their price objective on Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $956.88.

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.