RAM Investment Partners LLC Decreases Stake in Eli Lilly and Company (NYSE:LLY)

RAM Investment Partners LLC trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 18.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 431 shares of the company’s stock after selling 96 shares during the period. RAM Investment Partners LLC’s holdings in Eli Lilly and Company were worth $390,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of LLY. Bank OZK grew its stake in shares of Eli Lilly and Company by 0.7% in the second quarter. Bank OZK now owns 11,622 shares of the company’s stock valued at $10,522,000 after buying an additional 78 shares in the last quarter. Bricktown Capital LLC acquired a new stake in Eli Lilly and Company in the second quarter valued at approximately $8,692,000. Crossmark Global Holdings Inc. raised its stake in shares of Eli Lilly and Company by 1.6% during the second quarter. Crossmark Global Holdings Inc. now owns 37,103 shares of the company’s stock valued at $33,593,000 after purchasing an additional 593 shares during the period. Market Street Wealth Management Advisors LLC lifted its position in shares of Eli Lilly and Company by 10.7% during the second quarter. Market Street Wealth Management Advisors LLC now owns 15,287 shares of the company’s stock worth $13,840,000 after purchasing an additional 1,475 shares in the last quarter. Finally, Callahan Advisors LLC boosted its stake in shares of Eli Lilly and Company by 20.5% in the second quarter. Callahan Advisors LLC now owns 14,580 shares of the company’s stock valued at $13,200,000 after purchasing an additional 2,477 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Argus boosted their price objective on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Jefferies Financial Group boosted 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 note on Monday, June 24th. Bank of America raised their price objective on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. upped their target price on Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Finally, BMO Capital Markets raised their price target 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. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $961.76.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of the company’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 transaction, the insider now owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Johna Norton sold 7,056 shares of Eli Lilly and Company stock in a transaction dated 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 directly owns 25,428 shares in the company, valued at $20,835,194.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,097,883 shares of company stock valued at $972,022,568 in the last quarter. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

NYSE:LLY traded up $19.82 during midday trading on Friday, reaching $960.02. 2,456,992 shares of the company traded hands, compared to its average volume of 3,070,253. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $972.53. The firm has a market capitalization of $912.41 billion, a price-to-earnings ratio of 141.39, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. 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 company has a fifty day moving average price of $891.13 and a 200 day moving average price of $819.99.

Eli Lilly and Company Announces Dividend

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

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.