Zweig DiMenna Associates LLC Boosts Holdings in Eli Lilly and Company (NYSE:LLY)

Zweig DiMenna Associates LLC boosted its stake in Eli Lilly and Company (NYSE:LLY) by 45.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,680 shares of the company’s stock after acquiring an additional 6,125 shares during the period. Eli Lilly and Company accounts for about 2.0% of Zweig DiMenna Associates LLC’s holdings, making the stock its 16th biggest position. Zweig DiMenna Associates LLC’s holdings in Eli Lilly and Company were worth $17,818,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LLY. Grove Bank & Trust boosted its position in Eli Lilly and Company by 1.7% during the second quarter. Grove Bank & Trust now owns 5,904 shares of the company’s stock worth $5,345,000 after purchasing an additional 100 shares during the period. ACT Advisors LLC. bought a new stake in Eli Lilly and Company during the 2nd quarter valued at $239,000. Joseph P. Lucia & Associates LLC boosted its holdings in shares of Eli Lilly and Company by 10.0% in the second quarter. Joseph P. Lucia & Associates LLC now owns 331 shares of the company’s stock worth $300,000 after acquiring an additional 30 shares during the period. Traynor Capital Management Inc. grew its position in shares of Eli Lilly and Company by 38.3% in the second quarter. Traynor Capital Management Inc. now owns 42,657 shares of the company’s stock valued at $38,621,000 after purchasing an additional 11,824 shares in the last quarter. Finally, Quotient Wealth Partners LLC raised its stake in shares of Eli Lilly and Company by 17.3% during the 2nd quarter. Quotient Wealth Partners LLC now owns 3,113 shares of the company’s stock valued at $2,819,000 after purchasing an additional 458 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

LLY traded down $1.43 during midday trading on Friday, hitting $952.74. The 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 1 year low of $516.57 and a 1 year high of $972.53. 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 business has a fifty day moving average of $886.32 and a 200 day moving average of $813.81. The company has a market cap of $905.49 billion, a P/E ratio of 140.32, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors 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 dividend yield of 0.55%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Insider Buying and Selling

In other Eli Lilly and Company 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 completion of the sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the transaction, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 98,554,195 shares in the company, valued at $79,730,343,755. The disclosure for this sale can be found here. Insiders have sold a total of 1,122,141 shares of company stock worth $991,938,411 in the last 90 days. 0.13% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Berenberg Bank lifted their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Morgan Stanley reaffirmed an “overweight” rating and set a $1,023.00 price objective on shares of Eli Lilly and Company in a research note on Friday, July 5th. Barclays increased their target price on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and raised their price target for the company from $725.00 to $1,025.00 in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. upped 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $956.88.

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.