Jackson Grant Investment Advisers Inc. Decreases Stake in Eli Lilly and Company (NYSE:LLY)

Jackson Grant Investment Advisers Inc. lessened its position in shares of Eli Lilly and Company (NYSE:LLY) by 6.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,796 shares of the company’s stock after selling 206 shares during the quarter. Eli Lilly and Company comprises 1.0% of Jackson Grant Investment Advisers Inc.’s portfolio, making the stock its 20th biggest holding. Jackson Grant Investment Advisers Inc.’s holdings in Eli Lilly and Company were worth $2,532,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LLY. Legacy Trust increased its holdings in shares of Eli Lilly and Company by 2.8% in the 2nd quarter. Legacy Trust now owns 1,219 shares of the company’s stock worth $1,104,000 after buying an additional 33 shares during the last quarter. Falcon Wealth Planning increased its stake in Eli Lilly and Company by 10.4% during the second quarter. Falcon Wealth Planning now owns 745 shares of the company’s stock worth $675,000 after acquiring an additional 70 shares during the last quarter. V Square Quantitative Management LLC raised its position in Eli Lilly and Company by 0.9% during the second quarter. V Square Quantitative Management LLC now owns 12,902 shares of the company’s stock valued at $11,681,000 after purchasing an additional 121 shares during the period. ORBA Wealth Advisors L.L.C. raised its position in Eli Lilly and Company by 7.5% during the second quarter. ORBA Wealth Advisors L.L.C. now owns 414 shares of the company’s stock valued at $375,000 after purchasing an additional 29 shares during the period. Finally, Great Valley Advisor Group Inc. lifted its stake in shares of Eli Lilly and Company by 5.3% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 21,377 shares of the company’s stock valued at $19,354,000 after purchasing an additional 1,083 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

LLY has been the topic of several recent research reports. Bank of America increased their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a report on Friday, August 9th. Barclays raised their target price on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Morgan Stanley reiterated an “overweight” rating and set a $1,023.00 price target on shares of Eli Lilly and Company in a report on Friday, July 5th. Argus boosted their target price on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Finally, Berenberg Bank upped their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $948.29.

Insider Activity at Eli Lilly and Company

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 transaction, the insider now directly owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction dated Monday, June 3rd. The stock was 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 of the company’s stock, valued at $5,842,821.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the company’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 sale, the insider now owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The disclosure for this sale can be found here. Insiders sold 1,214,704 shares of company stock valued at $1,066,841,316 over the last 90 days. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Up 2.6 %

Eli Lilly and Company stock traded up $23.63 during trading hours on Wednesday, reaching $931.68. The stock had a trading volume of 3,426,523 shares, compared to its average volume of 3,097,943. The company has a market cap of $885.47 billion, a price-to-earnings ratio of 136.49, a PEG ratio of 1.81 and a beta of 0.41. The business’s 50 day moving average price is $873.64 and its 200-day moving average price is $800.31. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $966.10. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be paid a dividend of $1.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.56%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 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.