Callahan Advisors LLC Purchases 2,477 Shares of Eli Lilly and Company (NYSE:LLY)

Callahan Advisors LLC lifted its position in Eli Lilly and Company (NYSE:LLY) by 20.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,580 shares of the company’s stock after buying an additional 2,477 shares during the period. Eli Lilly and Company comprises 1.4% of Callahan Advisors LLC’s holdings, making the stock its 26th largest position. Callahan Advisors LLC’s holdings in Eli Lilly and Company were worth $13,200,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in LLY. Vanguard Group Inc. lifted its stake in Eli Lilly and Company by 1.6% in the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after buying an additional 1,133,810 shares in the last quarter. Capital World Investors increased its position in shares of Eli Lilly and Company by 0.3% during the fourth quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock worth $15,709,466,000 after acquiring an additional 89,720 shares in the last quarter. Norges Bank acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth $5,992,890,000. Capital Research Global Investors lifted its position in Eli Lilly and Company by 6.0% in the 1st quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock valued at $6,248,210,000 after acquiring an additional 453,939 shares in the last quarter. Finally, Capital International Investors boosted its stake in Eli Lilly and Company by 5.1% in the 1st quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock worth $5,424,243,000 after purchasing an additional 335,560 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

LLY traded up $19.82 during trading hours on Friday, reaching $960.02. The company’s stock had a trading volume of 2,456,992 shares, compared to its average volume of 3,070,253. The company’s 50-day moving average is $891.13 and its 200-day moving average is $819.99. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $972.53. The firm has a market cap of $912.41 billion, a PE ratio of 141.39, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s payout ratio is presently 76.58%.

Wall Street Analysts Forecast Growth

LLY has been the topic of several recent research reports. Jefferies Financial Group lifted 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. JPMorgan Chase & Co. lifted their target price on Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Truist Financial restated a “buy” rating and issued a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Wells Fargo & Company raised their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $961.76.

Insider Transactions at Eli Lilly and Company

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 stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the transaction, the insider now owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the sale, the insider now directly owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Johna Norton sold 7,056 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 25,428 shares in the company, valued at approximately $20,835,194.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,097,883 shares of company stock worth $972,022,568. 0.13% of the stock is owned by insiders.

Eli Lilly and 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.