Silver Lake Advisory LLC Raises Holdings in Eli Lilly and Company (NYSE:LLY)

Silver Lake Advisory LLC increased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 4.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,750 shares of the company’s stock after purchasing an additional 69 shares during the quarter. Silver Lake Advisory LLC’s holdings in Eli Lilly and Company were worth $1,584,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Lynx Investment Advisory purchased a new stake in shares of Eli Lilly and Company during the 2nd quarter worth $32,000. Lipe & Dalton purchased a new stake in Eli Lilly and Company in the fourth quarter valued at about $26,000. Core Wealth Advisors Inc. raised its stake in Eli Lilly and Company by 188.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 32 shares during the last quarter. Activest Wealth Management purchased a new stake in Eli Lilly and Company in the first quarter valued at about $39,000. Finally, Tidemark LLC purchased a new stake in Eli Lilly and Company in the fourth quarter valued at about $29,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on LLY. Argus increased their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. BMO Capital Markets increased their price target on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Morgan Stanley reiterated an “overweight” rating and issued a $1,023.00 price target on shares of Eli Lilly and Company in a research note on Friday, July 5th. Truist Financial reiterated a “buy” rating and issued a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $956.88.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 92,563 shares of the firm’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 transaction, the insider now owns 98,556,247 shares in the company, valued at $79,752,700,634.87. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, major shareholder Lilly Endowment Inc sold 92,563 shares of the firm’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 transaction, the insider now owns 98,556,247 shares in the company, valued at $79,752,700,634.87. The transaction was disclosed in a document filed 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 that occurred on Monday, June 3rd. The shares were 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. Over the last 90 days, insiders have sold 1,214,704 shares of company stock worth $1,066,841,316. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Price Performance

LLY stock traded down $9.91 during mid-day trading on Friday, reaching $921.67. 2,361,077 shares of the company’s stock were exchanged, compared to its average volume of 3,096,824. The company has a market cap of $875.96 billion, a price-to-earnings ratio of 135.74, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. The stock’s 50 day moving average is $878.93 and its 200 day moving average is $804.05. 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 has a 12-month low of $516.57 and a 12-month 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. Shareholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.56%. Eli Lilly and Company’s dividend payout ratio is currently 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.