Argonautica Private Wealth Management Inc. Has $2.83 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Argonautica Private Wealth Management Inc. grew its holdings in Eli Lilly and Company (NYSE:LLY) by 13.0% during the second quarter, Holdings Channel reports. The firm owned 3,130 shares of the company’s stock after acquiring an additional 361 shares during the quarter. Eli Lilly and Company comprises about 1.0% of Argonautica Private Wealth Management Inc.’s holdings, making the stock its 27th largest position. Argonautica Private Wealth Management Inc.’s holdings in Eli Lilly and Company were worth $2,834,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank acquired a new position in Eli Lilly and Company during the 4th quarter worth approximately $5,992,890,000. Swedbank AB acquired a new position in Eli Lilly and Company during the 1st quarter worth approximately $932,797,000. Sapient Capital LLC acquired a new position in Eli Lilly and Company during the 4th quarter worth approximately $682,139,000. Vanguard Group Inc. raised its stake in Eli Lilly and Company by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after buying an additional 1,133,810 shares during the period. Finally, GQG Partners LLC raised its stake in Eli Lilly and Company by 20.2% during the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock worth $2,994,280,000 after buying an additional 648,094 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on LLY shares. Truist Financial reissued a “buy” rating and set a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Guggenheim boosted their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Jefferies Financial Group boosted their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday, June 24th. JPMorgan Chase & Co. boosted their price objective on Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Finally, Deutsche Bank Aktiengesellschaft raised Eli Lilly and Company from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $725.00 to $1,025.00 in a report on Monday, August 12th. Two 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.com, the company presently has an average rating of “Moderate Buy” and an average target price of $961.76.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock traded down $5.54 during trading on Wednesday, hitting $948.94. The stock had a trading volume of 1,697,028 shares, compared to its average volume of 3,081,237. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $972.53. 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’s 50 day moving average is $887.63 and its two-hundred day moving average is $816.72. The stock has a market cap of $901.88 billion, a price-to-earnings ratio of 140.80, a price-to-earnings-growth 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. Investors of record on Thursday, August 15th will be paid a $1.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.55%. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 22,206 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $822.11, for a total value of $18,255,774.66. Following the transaction, the insider now owns 98,401,604 shares in the company, valued at $80,896,942,664.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Eli Lilly and Company news, EVP Johna Norton sold 7,056 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the sale, the executive vice president now owns 25,428 shares in the company, valued at $20,835,194.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Lilly Endowment Inc sold 22,206 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $822.11, for a total value of $18,255,774.66. Following the completion of the sale, the insider now owns 98,401,604 shares in the company, valued at approximately $80,896,942,664.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,120,089 shares of company stock worth $990,278,343. Insiders own 0.13% of the company’s stock.

Eli Lilly and 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.