Zimmermann Investment Management & Planning LLC Acquires 825 Shares of Eli Lilly and Company (NYSE:LLY)

Zimmermann Investment Management & Planning LLC increased its position in Eli Lilly and Company (NYSE:LLY) by 111.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,565 shares of the company’s stock after buying an additional 825 shares during the period. Zimmermann Investment Management & Planning LLC’s holdings in Eli Lilly and Company were worth $1,417,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in LLY. Tidemark LLC purchased a new stake in Eli Lilly and Company during the fourth quarter valued at approximately $29,000. Core Wealth Advisors Inc. increased its position in Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after acquiring an additional 32 shares during the last quarter. Lynx Investment Advisory purchased a new stake in shares of Eli Lilly and Company in the second quarter valued at $32,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the fourth quarter valued at $37,000. Finally, St. Johns Investment Management Company LLC lifted its holdings in shares of Eli Lilly and Company by 123.3% in the 4th quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock worth $39,000 after acquiring an additional 37 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 22,206 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $822.11, for a total value of $18,255,774.66. Following the transaction, the insider now directly owns 98,401,604 shares in the company, valued at approximately $80,896,942,664.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Eli Lilly and Company news, EVP Johna Norton sold 7,056 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Lilly Endowment Inc sold 22,206 shares of Eli Lilly and Company stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $822.11, for a total transaction of $18,255,774.66. Following the sale, the insider now owns 98,401,604 shares of the company’s stock, valued at $80,896,942,664.44. The disclosure for this sale can be found here. Insiders sold 1,120,089 shares of company stock valued at $990,278,343 in the last three months. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

LLY has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. BMO Capital Markets increased their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Berenberg Bank boosted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Argus upped their price target on shares of 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. Finally, Morgan Stanley reissued an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a report on Tuesday. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $961.76.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY traded down $5.54 during midday trading on Wednesday, reaching $948.94. 1,679,095 shares of the stock were exchanged, compared to its average volume of 3,081,237. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The firm has a market cap of $901.88 billion, a price-to-earnings ratio of 139.76, a PEG ratio of 1.81 and a beta of 0.41. The firm has a 50-day simple moving average of $888.89 and a two-hundred day simple moving average of $818.23. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $972.53.

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 issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s payout ratio is currently 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.