Biltmore Wealth Management LLC Buys New Holdings in Eli Lilly and Company (NYSE:LLY)

Biltmore Wealth Management LLC acquired a new stake in shares of Eli Lilly and Company (NYSE:LLY) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 241 shares of the company’s stock, valued at approximately $218,000.

Other hedge funds also recently made changes to their positions in the company. Independent Advisor Alliance raised its holdings in Eli Lilly and Company by 1.7% in the 4th quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock worth $18,810,000 after acquiring an additional 544 shares during the last quarter. Apexium Financial LP raised its holdings in shares of Eli Lilly and Company by 1,819.1% during the 4th quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock worth $6,667,000 after acquiring an additional 10,842 shares in the last quarter. Terril Brothers Inc. boosted its position in shares of Eli Lilly and Company by 113.2% during the 4th quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock valued at $471,000 after acquiring an additional 429 shares during the last quarter. Capital Planning LLC bought a new position in shares of Eli Lilly and Company during the 1st quarter valued at approximately $262,000. Finally, Hartline Investment Corp grew its holdings in shares of Eli Lilly and Company by 1.1% in the fourth quarter. Hartline Investment Corp now owns 21,934 shares of the company’s stock valued at $12,786,000 after purchasing an additional 248 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company 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 completion of the sale, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Lilly Endowment Inc sold 92,563 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the completion of the transaction, the insider now directly owns 98,556,247 shares of the company’s stock, valued at approximately $79,752,700,634.87. The disclosure for this sale can be found here. Insiders have sold a total of 1,214,704 shares of company stock valued at $1,066,841,316 over the last quarter. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Trading Up 5.5 %

Eli Lilly and Company stock traded up $46.37 during trading hours on Friday, hitting $891.68. The company had a trading volume of 6,587,628 shares, compared to its average volume of 3,089,428. 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 firm has a market cap of $847.46 billion, a P/E ratio of 131.32, a P/E/G ratio of 1.81 and a beta of 0.41. The company has a 50-day moving average price of $871.07 and a two-hundred day moving average price of $796.61. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $966.10.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.58%. Eli Lilly and Company’s payout ratio is 76.58%.

Wall Street Analyst Weigh In

Several equities analysts have commented on LLY shares. Argus increased their price objective on shares of 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. Berenberg Bank increased their price target on shares of Eli Lilly and Company from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Jefferies Financial Group boosted their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Guggenheim upped their price objective on Eli Lilly and Company from $855.00 to $884.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company lifted their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $916.53.

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.