Spirit of America Management Corp NY Buys 115 Shares of Eli Lilly and Company (NYSE:LLY)

Spirit of America Management Corp NY grew its position in Eli Lilly and Company (NYSE:LLY) by 3.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,365 shares of the company’s stock after purchasing an additional 115 shares during the quarter. Spirit of America Management Corp NY’s holdings in Eli Lilly and Company were worth $3,047,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Tidemark LLC acquired a new position in Eli Lilly and Company during the 4th quarter worth $29,000. Core Wealth Advisors Inc. increased its stake in shares of Eli Lilly and Company by 188.2% in 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 period. Lynx Investment Advisory acquired a new position in shares of Eli Lilly and Company during the 2nd quarter worth about $32,000. Frank Rimerman Advisors LLC bought a new stake in Eli Lilly and Company during the 4th quarter valued at approximately $37,000. Finally, St. Johns Investment Management Company LLC boosted its stake 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 valued at $39,000 after purchasing an additional 37 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

Shares of NYSE LLY traded down $1.43 during mid-day trading on Friday, hitting $952.74. 2,063,309 shares of the stock were exchanged, compared to its average volume of 3,096,351. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $972.53. The stock’s fifty day simple moving average is $886.32 and its two-hundred day simple moving average is $814.57. 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 cap of $905.49 billion, a P/E ratio of 140.32, a PEG ratio of 1.81 and a beta of 0.41.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued 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 0.55%. Eli Lilly and Company’s dividend payout ratio is 76.58%.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the sale, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’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 approximately $79,730,343,755. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of the company’s 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 directly owns 7,130 shares in the company, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,122,141 shares of company stock worth $991,938,411. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on LLY shares. Bank of America upped their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Truist Financial reissued a “buy” rating and issued a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Guggenheim boosted their price objective on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Morgan Stanley reiterated an “overweight” rating and issued a $1,023.00 target price on shares of Eli Lilly and Company in a research note on Friday, July 5th. Finally, Jefferies Financial Group boosted their price target on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.