Eli Lilly and Company (NYSE:LLY) Position Lessened by Richard W. Paul & Associates LLC

Richard W. Paul & Associates LLC decreased its stake in Eli Lilly and Company (NYSE:LLY) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,056 shares of the company’s stock after selling 38 shares during the period. Richard W. Paul & Associates LLC’s holdings in Eli Lilly and Company were worth $956,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Griffin Asset Management Inc. raised its stake in Eli Lilly and Company by 45.9% during the 2nd quarter. Griffin Asset Management Inc. now owns 954 shares of the company’s stock valued at $864,000 after acquiring an additional 300 shares in the last quarter. Proffitt & Goodson Inc. bought a new stake in Eli Lilly and Company during the 2nd quarter valued at $53,000. Koa Wealth Management LLC bought a new stake in Eli Lilly and Company during the 2nd quarter valued at $216,000. Moss Adams Wealth Advisors LLC raised its stake in Eli Lilly and Company by 29.1% during the 2nd quarter. Moss Adams Wealth Advisors LLC now owns 2,168 shares of the company’s stock valued at $1,963,000 after acquiring an additional 489 shares in the last quarter. Finally, American National Bank raised its stake in Eli Lilly and Company by 1.5% during the 2nd quarter. American National Bank now owns 6,595 shares of the company’s stock valued at $5,971,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was 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 directly owns 25,428 shares of the company’s stock, valued at approximately $20,835,194.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,214,704 shares of company stock valued at $1,066,841,316. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Wells Fargo & Company lifted their target price on 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. Bank of America lifted their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating and lifted their price target for the company from $725.00 to $1,025.00 in a research report on Monday, August 12th. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research report on Monday. Finally, Morgan Stanley reiterated an “overweight” rating and set a $1,023.00 price target on shares of Eli Lilly and Company in a research report on Friday, July 5th. Two research analysts have rated the stock with a hold rating and seventeen have issued 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 $956.88.

Eli Lilly and Company Stock Up 0.2 %

Shares of LLY stock traded up $2.22 on Thursday, reaching $954.19. 3,181,057 shares of the company’s stock traded hands, compared to its average volume of 3,102,731. Eli Lilly and Company has a 12-month low of $516.57 and a 12-month high of $972.53. 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 $906.87 billion, a P/E ratio of 141.57, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. The business’s 50 day moving average price is $883.39 and its two-hundred day moving average price is $811.11.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a dividend of $1.30 per share. The ex-dividend date 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 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.