Sutton Place Investors LLC Has $2 Million Position in Eli Lilly and Company (NYSE:LLY)

Sutton Place Investors LLC reduced its stake in Eli Lilly and Company (NYSE:LLY) by 47.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,213 shares of the company’s stock after selling 1,987 shares during the period. Eli Lilly and Company makes up approximately 1.3% of Sutton Place Investors LLC’s holdings, making the stock its 20th largest holding. Sutton Place Investors LLC’s holdings in Eli Lilly and Company were worth $2,004,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lynx Investment Advisory acquired a new stake in shares of Eli Lilly and Company during the second quarter worth about $32,000. Core Wealth Advisors Inc. lifted its holdings in shares of 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 purchasing an additional 32 shares in the last quarter. Activest Wealth Management acquired a new position in shares of Eli Lilly and Company during the first quarter worth about $39,000. Tidemark LLC bought a new position in shares of Eli Lilly and Company during the fourth quarter worth about $29,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Eli Lilly and Company in the 1st quarter valued at approximately $40,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 1.0 %

Shares of Eli Lilly and Company stock traded down $9.46 on Friday, hitting $922.12. The stock had a trading volume of 2,364,894 shares, compared to its average volume of 3,096,824. The stock has a 50 day moving average of $878.93 and a 200 day moving average of $805.16. The firm has a market capitalization of $876.39 billion, a P/E ratio of 135.81, a PEG ratio of 1.81 and a beta of 0.41. Eli Lilly and Company has a twelve month low of $516.57 and a twelve 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.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be issued 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 payout ratio is presently 76.58%.

Analyst Ratings Changes

LLY has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of 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. Barclays boosted their price target on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Bank of America increased their price objective 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. Morgan Stanley reissued an “overweight” rating and set a $1,023.00 price target on shares of Eli Lilly and Company in a report on Friday, July 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $725.00 to $1,025.00 in a research note on Monday, August 12th. 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $956.88.

Insiders Place Their Bets

In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total value of $1,660,068.00. Following the transaction, the insider now directly owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the transaction, the insider now owns 98,554,195 shares in the company, valued at $79,730,343,755. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Johna Norton sold 7,056 shares of the company’s stock in a transaction on 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 approximately $20,835,194.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,214,704 shares of company stock valued at $1,066,841,316. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and 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.