Lynx Investment Advisory Makes New Investment in Eli Lilly and Company (NYSE:LLY)

Lynx Investment Advisory bought a new position in shares of Eli Lilly and Company (NYSE:LLY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 35 shares of the company’s stock, valued at approximately $32,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Trust Co. of Vermont increased its position in Eli Lilly and Company by 1.6% in the second quarter. Trust Co. of Vermont now owns 8,288 shares of the company’s stock worth $7,504,000 after buying an additional 131 shares during the period. Great Waters Wealth Management lifted its position in Eli Lilly and Company by 8.3% in the 2nd quarter. Great Waters Wealth Management now owns 913 shares of the company’s stock valued at $826,000 after purchasing an additional 70 shares during the last quarter. Burns Matteson Capital Management LLC boosted its stake in Eli Lilly and Company by 1.5% during the 2nd quarter. Burns Matteson Capital Management LLC now owns 1,452 shares of the company’s stock valued at $1,315,000 after purchasing an additional 22 shares during the period. Insight Wealth Strategies LLC bought a new position in Eli Lilly and Company in the 2nd quarter worth about $201,000. Finally, Trust Co. of Toledo NA OH increased its stake in shares of Eli Lilly and Company by 2.5% in the second quarter. Trust Co. of Toledo NA OH now owns 28,692 shares of the company’s stock valued at $25,977,000 after purchasing an additional 706 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Down 2.6 %

Shares of NYSE:LLY traded down $20.85 during mid-day trading on Wednesday, hitting $772.33. The stock had a trading volume of 2,471,669 shares, compared to its average volume of 3,011,629. The company’s 50 day moving average is $869.86 and its 200-day moving average is $792.28. Eli Lilly and Company has a 12-month low of $502.71 and a 12-month high of $966.10. 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 $734.03 billion, a PE ratio of 113.25, a P/E/G 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. Stockholders 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 dividend yield of 0.67%. Eli Lilly and Company’s dividend payout ratio is 76.58%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LLY. JPMorgan Chase & Co. boosted their price objective on 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday. Jefferies Financial Group boosted their price target 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. Truist Financial reiterated a “buy” rating and set a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Finally, Guggenheim upped their target price on Eli Lilly and Company from $855.00 to $884.00 and gave the stock a “buy” rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $860.05.

Insider Activity at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the 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 directly owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 shares were sold at an average price of $939.82, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company 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 sale, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,214,704 shares of company stock valued at $1,066,841,316. Company insiders own 0.13% of the company’s stock.

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.