Fifth Third Bancorp Acquires 31,654 Shares of Eli Lilly and Company (NYSE:LLY)

Fifth Third Bancorp increased its holdings in Eli Lilly and Company (NYSE:LLY) by 7.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 445,222 shares of the company’s stock after buying an additional 31,654 shares during the quarter. Eli Lilly and Company comprises approximately 1.5% of Fifth Third Bancorp’s portfolio, making the stock its 10th largest holding. Fifth Third Bancorp’s holdings in Eli Lilly and Company were worth $403,095,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LLY. Tidemark LLC acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth about $29,000. Core Wealth Advisors Inc. grew its holdings in shares of Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 32 shares during the last quarter. Lynx Investment Advisory bought a new position in shares of Eli Lilly and Company in the second quarter valued at about $32,000. Frank Rimerman Advisors LLC acquired a new position in Eli Lilly and Company during the 4th quarter worth about $37,000. Finally, St. Johns Investment Management Company LLC grew its holdings in Eli Lilly and Company by 123.3% during the 4th quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock worth $39,000 after acquiring an additional 37 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 0.2 %

Shares of LLY traded up $2.00 during trading hours on Wednesday, reaching $951.97. The stock had a trading volume of 2,497,504 shares, compared to its average volume of 3,101,510. The firm has a 50-day moving average of $881.72 and a 200 day moving average of $810.11. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The company has a market cap of $904.76 billion, a P/E ratio of 139.10, a P/E/G ratio of 1.81 and a beta of 0.41. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $967.00.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the completion of the transaction, the insider now owns 98,554,195 shares in the company, valued at $79,730,343,755. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total value of $1,660,068.00. Following the sale, the insider now directly owns 98,554,195 shares in the company, valued at $79,730,343,755. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction dated Monday, June 3rd. The stock was 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 $5,842,821.10. The disclosure for this sale can be found here. Insiders have sold 1,214,704 shares of company stock worth $1,066,841,316 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Truist Financial reiterated a “buy” rating and set a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Argus lifted their target price on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Bank of America boosted their target price on 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. Morgan Stanley reiterated an “overweight” rating and issued a $1,023.00 price target on shares of Eli Lilly and Company in a report on Friday, July 5th. Finally, JPMorgan Chase & Co. boosted their price objective on Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $956.88.

Eli Lilly and Company Profile

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.