Eli Lilly and Company (NYSE:LLY) Stake Decreased by Avitas Wealth Management LLC

Avitas Wealth Management LLC reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.1% in the second quarter, HoldingsChannel.com reports. The fund owned 18,161 shares of the company’s stock after selling 209 shares during the quarter. Eli Lilly and Company accounts for approximately 2.4% of Avitas Wealth Management LLC’s portfolio, making the stock its 7th largest position. Avitas Wealth Management LLC’s holdings in Eli Lilly and Company were worth $16,443,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Twelve Points Wealth Management LLC raised its stake in shares of Eli Lilly and Company by 1.4% during the second quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock worth $734,000 after acquiring an additional 11 shares in the last quarter. Verum Partners LLC raised its position in Eli Lilly and Company by 1.5% in the 2nd quarter. Verum Partners LLC now owns 731 shares of the company’s stock worth $662,000 after purchasing an additional 11 shares during the period. Acorn Creek Capital LLC lifted its stake in Eli Lilly and Company by 1.3% in the second quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock worth $840,000 after purchasing an additional 12 shares during the last quarter. Thompson Davis & CO. Inc. boosted its position in Eli Lilly and Company by 0.7% during the second quarter. Thompson Davis & CO. Inc. now owns 1,687 shares of the company’s stock valued at $1,527,000 after buying an additional 12 shares during the period. Finally, Versant Capital Management Inc grew its stake in shares of Eli Lilly and Company by 1.8% during the first quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock valued at $573,000 after buying an additional 13 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Morgan Stanley reissued an “overweight” rating and issued a $1,023.00 target price on shares of Eli Lilly and Company in a research note on Friday, July 5th. Deutsche Bank Aktiengesellschaft raised Eli Lilly and Company from a “hold” rating to a “buy” rating and increased their price objective for the company from $725.00 to $1,025.00 in a research note on Monday, August 12th. Berenberg Bank raised their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Argus lifted their target price on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Finally, JPMorgan Chase & Co. raised 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 report on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $956.88.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total value of $197,362,200.00. Following the sale, the insider now owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other 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 transaction, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at approximately $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 210,000 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the sale, the insider now directly owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,122,141 shares of company stock worth $991,938,411. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Down 0.1 %

Shares of Eli Lilly and Company stock traded down $1.43 during trading on Friday, hitting $952.74. The company’s stock had a trading volume of 2,063,309 shares, compared to its average volume of 3,096,351. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $972.53. The company has a market capitalization of $905.49 billion, a PE ratio of 140.32, a P/E/G ratio of 1.81 and a beta of 0.41. The company has a fifty day simple moving average of $886.32 and a two-hundred day simple moving average of $813.81. 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is 76.58%.

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.