Avalon Capital Management Boosts Holdings in Eli Lilly and Company (NYSE:LLY)

Avalon Capital Management grew its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,612 shares of the company’s stock after acquiring an additional 12 shares during the quarter. Eli Lilly and Company accounts for approximately 1.6% of Avalon Capital Management’s holdings, making the stock its 17th biggest holding. Avalon Capital Management’s holdings in Eli Lilly and Company were worth $5,081,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Twelve Points Wealth Management LLC lifted its position in Eli Lilly and Company by 1.4% in the second quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock worth $734,000 after buying an additional 11 shares during the last quarter. Verum Partners LLC lifted its position in shares of Eli Lilly and Company by 1.5% during the second quarter. Verum Partners LLC now owns 731 shares of the company’s stock worth $662,000 after purchasing an additional 11 shares during the last quarter. Acorn Creek Capital LLC lifted its position in shares of Eli Lilly and Company by 1.3% during the second quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock worth $840,000 after purchasing an additional 12 shares during the last quarter. Thompson Davis & CO. Inc. lifted its position in shares of Eli Lilly and Company by 0.7% during the second quarter. Thompson Davis & CO. Inc. now owns 1,687 shares of the company’s stock worth $1,527,000 after purchasing an additional 12 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Eli Lilly and Company by 1.8% during the first quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock worth $573,000 after purchasing an additional 13 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company 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 completion of the sale, 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 is available at the SEC website. In other Eli Lilly and Company news, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the transaction, the executive vice president now directly owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction that occurred 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 directly owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The disclosure for this sale can be found here. Insiders sold 1,122,141 shares of company stock valued at $991,938,411 over the last quarter. 0.13% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

LLY has been the topic of several research reports. Morgan Stanley restated an “overweight” rating and set a $1,023.00 price target on shares of Eli Lilly and Company in a research note on Friday, July 5th. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday. Jefferies Financial Group raised their price target 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. Argus lifted their target price on 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. Finally, Barclays lifted their target price on 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. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $956.88.

Eli Lilly and Company Stock Down 0.2 %

Shares of LLY stock traded down $1.66 during trading hours on Friday, reaching $952.51. 2,060,125 shares of the company’s stock were exchanged, compared to its average volume of 3,096,351. 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 cap of $905.27 billion, a PE ratio of 139.88, a PEG ratio of 1.81 and a beta of 0.41. 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 stock’s fifty day moving average price is $884.83 and its two-hundred day moving average price is $812.10.

Eli Lilly and Company Dividend Announcement

The company also recently announced 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. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Thursday, August 15th. 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.