Eli Lilly and Company (NYSE:LLY) Shares Bought by 1900 Wealth Management LLC

1900 Wealth Management LLC raised its holdings in Eli Lilly and Company (NYSE:LLY) by 2.7% in the second quarter, Holdings Channel reports. The fund owned 733 shares of the company’s stock after buying an additional 19 shares during the period. 1900 Wealth Management LLC’s holdings in Eli Lilly and Company were worth $664,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Twelve Points Wealth Management LLC grew its stake in shares of Eli Lilly and Company by 1.4% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock valued at $734,000 after buying an additional 11 shares during the period. Verum Partners LLC grew its stake in shares of Eli Lilly and Company by 1.5% in the 2nd quarter. Verum Partners LLC now owns 731 shares of the company’s stock valued at $662,000 after buying an additional 11 shares during the period. Acorn Creek Capital LLC grew its stake in shares of Eli Lilly and Company by 1.3% in the 2nd quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock valued at $840,000 after buying an additional 12 shares during the period. Thompson Davis & CO. Inc. grew its stake in shares of Eli Lilly and Company by 0.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,687 shares of the company’s stock valued at $1,527,000 after buying an additional 12 shares during the period. Finally, Versant Capital Management Inc grew its stake in shares of Eli Lilly and Company by 1.8% in the 1st quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock valued at $573,000 after buying an additional 13 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Activity

In other 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 sale, the chief accounting officer now directly owns 7,130 shares in the company, valued at approximately $5,842,821.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related 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 transaction of $197,362,200.00. Following the sale, the insider now directly owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the sale, the chief accounting officer now owns 7,130 shares in the company, valued at $5,842,821.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,120,089 shares of company stock worth $990,278,343. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Stock Down 0.6 %

LLY stock traded down $5.54 during midday trading on Wednesday, hitting $948.94. The company’s stock had a trading volume of 1,679,095 shares, compared to its average volume of 3,081,237. Eli Lilly and Company has a 52-week low of $516.57 and a 52-week high of $972.53. The firm has a 50-day simple moving average of $888.89 and a 200-day simple moving average of $818.23. The firm has a market capitalization of $901.88 billion, a P/E ratio of 139.76, a PEG ratio of 1.81 and a beta of 0.41. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company Announces Dividend

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 dividend on an annualized basis and a dividend yield of 0.55%. Eli Lilly and Company’s payout ratio is 76.58%.

Analysts Set New Price Targets

LLY has been the subject of several analyst reports. 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. Bank of America increased their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, August 19th. BMO Capital Markets increased their price objective 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 report on Friday, August 9th. Finally, Truist Financial reaffirmed a “buy” rating and set a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $961.76.

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.