D.B. Root & Company LLC Makes New $332,000 Investment in Eli Lilly and Company (NYSE:LLY)

D.B. Root & Company LLC acquired a new stake in shares of Eli Lilly and Company (NYSE:LLY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 367 shares of the company’s stock, valued at approximately $332,000.

Several other large investors have also modified their holdings of LLY. Lipe & Dalton purchased a new position in Eli Lilly and Company in the 4th quarter worth about $26,000. Tidemark LLC acquired a new stake in shares of Eli Lilly and Company during the fourth quarter valued at approximately $29,000. Core Wealth Advisors Inc. lifted its position in shares of Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after acquiring an additional 32 shares in the last quarter. Lynx Investment Advisory acquired a new position in Eli Lilly and Company in the 2nd quarter worth approximately $32,000. Finally, Frank Rimerman Advisors LLC acquired a new stake in Eli Lilly and Company during the 4th quarter valued at $37,000. 82.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LLY has been the topic of several recent analyst reports. BMO Capital Markets upped their price target on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. increased their price target on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Morgan Stanley reaffirmed an “overweight” rating and set a $1,023.00 price objective on shares of Eli Lilly and Company in a research report on Friday, July 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, August 5th. Finally, 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. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $945.35.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the transaction, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $197,362,200.00. Following the transaction, the insider now directly 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. Over the last three months, insiders sold 1,214,704 shares of company stock worth $1,066,841,316. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Stock Down 0.8 %

Shares of LLY stock opened at $884.38 on Tuesday. The stock’s 50 day simple moving average is $872.13 and its 200 day simple moving average is $798.42. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $966.10. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The company has a market capitalization of $840.52 billion, a price-to-earnings ratio of 130.25, a PEG 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. Stockholders of record on Thursday, August 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s payout ratio 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.