Cutter & CO Brokerage Inc. Boosts Stake in Eli Lilly and Company (NYSE:LLY)

Cutter & CO Brokerage Inc. increased its stake in Eli Lilly and Company (NYSE:LLY) by 9.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,001 shares of the company’s stock after purchasing an additional 577 shares during the quarter. Eli Lilly and Company makes up approximately 1.5% of Cutter & CO Brokerage Inc.’s investment portfolio, making the stock its 13th biggest position. Cutter & CO Brokerage Inc.’s holdings in Eli Lilly and Company were worth $6,338,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Eli Lilly and Company during the 4th quarter valued at about $5,992,890,000. Swedbank AB bought a new stake in Eli Lilly and Company during the 1st quarter worth approximately $932,797,000. Sapient Capital LLC purchased a new position in Eli Lilly and Company during the fourth quarter valued at approximately $682,139,000. Vanguard Group Inc. boosted its position in shares of Eli Lilly and Company by 1.6% in the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after purchasing an additional 1,133,810 shares during the period. Finally, GQG Partners LLC increased its stake in shares of Eli Lilly and Company by 20.2% in the first quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock worth $2,994,280,000 after purchasing an additional 648,094 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the transaction, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. Insiders have sold a total of 1,097,883 shares of company stock worth $972,022,568 over the last ninety days. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock traded up $19.82 during trading hours on Friday, reaching $960.02. The company’s stock had a trading volume of 2,555,073 shares, compared to its average volume of 3,070,253. The firm has a 50 day moving average price of $892.64 and a 200-day moving average price of $821.53. 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 has a market cap of $912.41 billion, a P/E ratio of 141.39, a P/E/G ratio of 1.81 and a beta of 0.41. Eli Lilly and Company has a one year low of $516.57 and a one year high of $972.53.

Eli Lilly and Company Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on LLY shares. Wells Fargo & Company lifted their target price on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Guggenheim boosted their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Barclays increased their target price on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Berenberg Bank boosted their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating and upped their price target for the stock from $725.00 to $1,025.00 in a research note on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.