Meyer Handelman Co. Sells 380 Shares of Eli Lilly and Company (NYSE:LLY)

Meyer Handelman Co. reduced its position in Eli Lilly and Company (NYSE:LLY) by 1.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 29,764 shares of the company’s stock after selling 380 shares during the period. Meyer Handelman Co.’s holdings in Eli Lilly and Company were worth $26,948,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Ameliora Wealth Management Ltd. boosted its stake in Eli Lilly and Company by 97.3% in the 2nd quarter. Ameliora Wealth Management Ltd. now owns 4,587 shares of the company’s stock worth $4,153,000 after purchasing an additional 2,262 shares during the period. Lauer Wealth LLC bought a new stake in Eli Lilly and Company during the 2nd quarter worth approximately $392,000. MCIA Inc purchased a new stake in Eli Lilly and Company in the 2nd quarter worth approximately $226,000. Burke & Herbert Bank & Trust Co. boosted its holdings in Eli Lilly and Company by 2,813.6% in the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 10,489 shares of the company’s stock valued at $9,497,000 after purchasing an additional 10,129 shares during the period. Finally, Hart & Patterson Financial Group LLC grew its position in shares of Eli Lilly and Company by 2.0% during the 2nd quarter. Hart & Patterson Financial Group LLC now owns 679 shares of the company’s stock valued at $615,000 after purchasing an additional 13 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LLY. BMO Capital Markets increased their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday. Bank of America upped their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research report on Friday. Argus lifted their target price 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 stock a “buy” rating in a report on Thursday, July 11th. Finally, Truist Financial reaffirmed a “buy” rating and set a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $945.35.

Eli Lilly and Company Stock Up 2.7 %

LLY stock traded up $23.57 during midday trading on Tuesday, hitting $907.95. The stock had a trading volume of 3,504,357 shares, compared to its average volume of 3,099,640. The business has a 50-day moving average of $873.64 and a two-hundred day moving average of $800.31. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. The firm has a market cap of $862.92 billion, a price-to-earnings ratio of 133.72, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. Eli Lilly and Company has a 52-week low of $516.57 and a 52-week high of $966.10.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be paid a $1.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.57%. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 92,563 shares of the company’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 value of $74,902,905.23. Following the sale, the insider now owns 98,556,247 shares in the company, valued at approximately $79,752,700,634.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Lilly Endowment Inc sold 92,563 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $809.21, for a total value of $74,902,905.23. Following the transaction, the insider now owns 98,556,247 shares in the company, valued at approximately $79,752,700,634.87. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 sale, the executive vice president now directly owns 25,428 shares in the company, valued at $20,835,194.64. The disclosure for this sale can be found here. Insiders sold a total of 1,214,704 shares of company stock valued at $1,066,841,316 in the last three months. 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.