Marietta Wealth Management LLC Cuts Holdings in Eli Lilly and Company (NYSE:LLY)

Marietta Wealth Management LLC lessened its stake in Eli Lilly and Company (NYSE:LLY) by 5.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,904 shares of the company’s stock after selling 752 shares during the period. Eli Lilly and Company makes up about 1.8% of Marietta Wealth Management LLC’s holdings, making the stock its 14th biggest holding. Marietta Wealth Management LLC’s holdings in Eli Lilly and Company were worth $11,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of LLY. Lynx Investment Advisory purchased a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at $32,000. Core Wealth Advisors Inc. boosted its position in Eli Lilly and Company by 188.2% during the 4th 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 period. Activest Wealth Management purchased a new stake in Eli Lilly and Company during the 1st quarter valued at $39,000. Tidemark LLC purchased a new stake in Eli Lilly and Company during the 4th quarter valued at $29,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Eli Lilly and Company during the 1st quarter valued at $40,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 1.0 %

Shares of Eli Lilly and Company stock traded down $9.46 during trading on Friday, hitting $922.12. The company’s stock had a trading volume of 2,364,894 shares, compared to its average volume of 3,096,824. 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 fifty day simple moving average of $878.93 and a two-hundred day simple moving average of $805.16. The company has a market capitalization of $876.39 billion, a PE ratio of 135.81, a P/E/G 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 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 given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.56%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Truist Financial reissued a “buy” rating and set a $1,000.00 price target (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Morgan Stanley reissued an “overweight” rating and set a $1,023.00 price target on shares of Eli Lilly and Company in a research report on Friday, July 5th. Barclays increased their price target on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Bank of America increased their price target on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $956.88.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the sale, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the sale, the insider now directly owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,214,704 shares of company stock valued at $1,066,841,316. 0.13% of the stock is owned by insiders.

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.