Sandy Cove Advisors LLC Reduces Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Sandy Cove Advisors LLC reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 4.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,062 shares of the company’s stock after selling 89 shares during the period. Eli Lilly and Company accounts for about 0.8% of Sandy Cove Advisors LLC’s holdings, making the stock its 22nd biggest position. Sandy Cove Advisors LLC’s holdings in Eli Lilly and Company were worth $1,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in LLY. Tidemark LLC purchased a new position in Eli Lilly and Company in the fourth quarter valued at about $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 worth $29,000 after buying an additional 32 shares during the last quarter. Lynx Investment Advisory bought a new position in shares of Eli Lilly and Company during the second quarter valued at approximately $32,000. Frank Rimerman Advisors LLC acquired a new stake in Eli Lilly and Company in the fourth quarter worth $37,000. Finally, St. Johns Investment Management Company LLC lifted its stake in Eli Lilly and Company by 123.3% in the fourth quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock valued at $39,000 after buying an additional 37 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LLY has been the topic of several analyst reports. 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 company an “outperform” rating in a research note on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday. Guggenheim lifted their price objective on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Argus upped their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and raised their target price for the stock from $725.00 to $1,025.00 in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $956.88.

Insider Buying and Selling at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $91,109,731,514.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Johna Norton sold 7,056 shares of the company’s stock in a transaction that occurred on 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 transaction, 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. In the last three months, insiders have sold 1,122,141 shares of company stock worth $991,938,411. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY traded up $4.65 on Friday, hitting $958.82. The company’s stock had a trading volume of 247,840 shares, compared to its average volume of 3,085,240. The company has a 50 day moving average price of $884.83 and a 200 day moving average price of $812.10. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. 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 $911.27 billion, a PE ratio of 141.38, a PEG ratio of 1.81 and a beta of 0.41.

Eli Lilly and Company Dividend Announcement

The business also recently announced 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. The ex-dividend date is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend 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.