Traynor Capital Management Inc. Has $38.62 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Traynor Capital Management Inc. raised its position in shares of Eli Lilly and Company (NYSE:LLY) by 38.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,657 shares of the company’s stock after acquiring an additional 11,824 shares during the quarter. Eli Lilly and Company comprises 2.9% of Traynor Capital Management Inc.’s investment portfolio, making the stock its 8th biggest holding. Traynor Capital Management Inc.’s holdings in Eli Lilly and Company were worth $38,621,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Independent Advisor Alliance raised its stake in Eli Lilly and Company by 1.7% during 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 holdings in 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 worth $6,667,000 after buying an additional 10,842 shares during the last quarter. Terril Brothers Inc. grew its holdings in shares of Eli Lilly and Company by 113.2% during the fourth quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock valued at $471,000 after buying an additional 429 shares during the last quarter. Capital Planning LLC bought a new stake in shares of Eli Lilly and Company during the first quarter worth about $262,000. Finally, Hartline Investment Corp raised its holdings in shares of Eli Lilly and Company by 1.1% in the 4th quarter. Hartline Investment Corp now owns 21,934 shares of the company’s stock worth $12,786,000 after acquiring an additional 248 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on LLY. Morgan Stanley reissued an “overweight” rating and set a $1,023.00 price objective on shares of Eli Lilly and Company in a report on Friday, July 5th. Argus upped their target price on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Bank of America raised their price target on shares of 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. Truist Financial reaffirmed a “buy” rating and issued a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Finally, Jefferies Financial Group lifted their target price on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research report 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $956.88.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY traded down $1.43 during trading on Friday, hitting $952.74. 2,063,309 shares of the company were exchanged, compared to its average volume of 3,096,351. The company has a market cap of $905.49 billion, a PE ratio of 140.32, 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 $972.53. 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 stock has a 50 day moving average of $886.32 and a 200 day moving average of $813.81.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be paid a $1.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.55%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’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 value of $197,362,200.00. Following the completion of the transaction, the insider now directly owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Eli Lilly and Company 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 value of $197,362,200.00. Following the completion of the transaction, the insider now directly owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the transaction, the executive vice president now owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The disclosure for this sale can be found here. Insiders sold 1,122,141 shares of company stock valued at $991,938,411 in the last quarter. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company 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.