Grove Bank & Trust Raises Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Grove Bank & Trust boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,904 shares of the company’s stock after acquiring an additional 100 shares during the quarter. Eli Lilly and Company accounts for 0.9% of Grove Bank & Trust’s portfolio, making the stock its 25th biggest holding. Grove Bank & Trust’s holdings in Eli Lilly and Company were worth $5,345,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Independent Advisor Alliance increased its stake in Eli Lilly and Company by 1.7% in the 4th quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock worth $18,810,000 after buying an additional 544 shares during the period. Apexium Financial LP raised its stake in shares of Eli Lilly and Company by 1,819.1% during the fourth quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock valued at $6,667,000 after acquiring an additional 10,842 shares in the last quarter. Terril Brothers Inc. boosted its holdings in shares of Eli Lilly and Company by 113.2% in the fourth quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock valued at $471,000 after purchasing an additional 429 shares during the period. Capital Planning LLC bought a new position in Eli Lilly and Company in the first quarter worth approximately $262,000. Finally, Hartline Investment Corp increased its holdings in Eli Lilly and Company by 1.1% during the 4th quarter. Hartline Investment Corp now owns 21,934 shares of the company’s stock worth $12,786,000 after purchasing an additional 248 shares during the period. 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 2,052 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the sale, the insider now owns 98,554,195 shares in the company, valued at $79,730,343,755. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’s stock in a transaction 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 sale, the insider now owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the sale, the chief accounting officer now directly 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. Over the last ninety days, insiders sold 1,122,141 shares of company stock worth $991,938,411. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock traded down $1.43 during mid-day trading on Friday, reaching $952.74. 2,063,309 shares of the company traded hands, compared to its average volume of 3,096,351. 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 firm’s fifty day moving average is $886.32 and its two-hundred day moving average is $813.81. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week high of $972.53. The company has a market capitalization of $905.49 billion, a price-to-earnings ratio of 140.32, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41.

Eli Lilly and Company Dividend Announcement

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 dividend on an annualized basis and a dividend yield of 0.55%. Eli Lilly and Company’s payout ratio is currently 76.58%.

Analysts Set New Price Targets

LLY has been the topic of a number of recent research reports. Argus increased their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Guggenheim raised their target price on shares of 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. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, August 19th. Barclays increased their price objective on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Finally, Truist Financial reissued a “buy” rating and issued a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $956.88.

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.