Catalytic Wealth RIA LLC Lowers Position in Eli Lilly and Company (NYSE:LLY)

Catalytic Wealth RIA LLC trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 4.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,180 shares of the company’s stock after selling 144 shares during the period. Catalytic Wealth RIA LLC’s holdings in Eli Lilly and Company were worth $2,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new position in Eli Lilly and Company in the fourth quarter valued at about $5,992,890,000. Swedbank AB bought a new stake in shares of Eli Lilly and Company in the 1st quarter valued at about $932,797,000. Sapient Capital LLC purchased a new position in shares of Eli Lilly and Company in the 4th quarter worth approximately $682,139,000. Vanguard Group Inc. raised its stake in shares of 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 acquiring an additional 1,133,810 shares in the last quarter. Finally, GQG Partners LLC lifted its position in Eli Lilly and Company by 20.2% during the first quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after acquiring an additional 648,094 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

LLY stock traded up $19.82 during midday trading on Friday, hitting $960.02. 2,555,073 shares of the stock traded hands, compared to its average volume of 3,070,253. Eli Lilly and Company has a 1-year low of $516.57 and a 1-year high of $972.53. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. The stock’s fifty day simple moving average is $892.64 and its 200-day simple moving average is $821.53. The firm has a market cap of $912.41 billion, a P/E ratio of 141.39, a PEG ratio of 1.81 and a beta of 0.41.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.54%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Wall Street Analyst Weigh In

LLY has been the topic of several analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,106.00 price target on shares of Eli Lilly and Company in a report on Tuesday. Argus boosted their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. JPMorgan Chase & Co. upped their price target on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, August 19th. Finally, Jefferies Financial Group lifted their price target on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $961.76.

Insider Activity

In related news, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the sale, the executive vice president now owns 25,428 shares of the company’s stock, valued at approximately $20,835,194.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Eli Lilly and Company news, EVP Johna Norton sold 7,056 shares of Eli Lilly and Company stock in a transaction on Monday, June 3rd. The shares were 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 of the company’s stock, valued at approximately $20,835,194.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Lilly Endowment Inc sold 192,794 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $829.77, for a total transaction of $159,974,677.38. Following the sale, the insider now directly owns 98,208,810 shares of the company’s stock, valued at approximately $81,490,724,273.70. The disclosure for this sale can be found here. Insiders have sold 1,097,883 shares of company stock worth $972,022,568 in the last quarter. Corporate insiders own 0.13% of the company’s stock.

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.