Harbour Investments Inc. Purchases 236 Shares of Eli Lilly and Company (NYSE:LLY)

Harbour Investments Inc. boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 3.0% in the second quarter, Holdings Channel reports. The firm owned 7,995 shares of the company’s stock after purchasing an additional 236 shares during the quarter. Harbour Investments Inc.’s holdings in Eli Lilly and Company were worth $7,239,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Eli Lilly and Company by 1.6% during the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after purchasing an additional 1,133,810 shares during the period. Capital World Investors grew its stake in Eli Lilly and Company by 0.3% during the fourth quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock worth $15,709,466,000 after buying an additional 89,720 shares in the last quarter. Norges Bank acquired a new position in Eli Lilly and Company during the fourth quarter valued at approximately $5,992,890,000. Capital Research Global Investors boosted its position in Eli Lilly and Company by 6.0% in the first quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock valued at $6,248,210,000 after buying an additional 453,939 shares in the last quarter. Finally, Capital International Investors boosted its stake in shares of Eli Lilly and Company by 5.1% during the first quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock valued at $5,424,243,000 after purchasing an additional 335,560 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock traded down $5.07 during trading hours on Wednesday, hitting $949.41. 739,352 shares of the company were exchanged, compared to its average volume of 3,075,468. The stock has a market capitalization of $902.32 billion, a price-to-earnings ratio of 140.80, a P/E/G ratio of 1.81 and a beta of 0.41. The business has a 50-day moving average of $887.63 and a 200-day moving average of $816.72. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $972.53.

Eli Lilly and Company Dividend Announcement

The company 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 $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.55%. Eli Lilly and Company’s payout ratio is currently 76.58%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Truist Financial restated a “buy” rating and set a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, August 19th. Berenberg Bank raised their price objective 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. Wells Fargo & Company raised their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Finally, Argus lifted their target price on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $961.76.

Insider Buying and Selling

In other news, major shareholder Lilly Endowment Inc sold 22,206 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $822.11, for a total transaction of $18,255,774.66. Following the completion of the sale, the insider now owns 98,401,604 shares of the company’s stock, valued at $80,896,942,664.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Lilly Endowment Inc sold 22,206 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $822.11, for a total transaction of $18,255,774.66. Following the transaction, the insider now directly owns 98,401,604 shares of the company’s stock, valued at $80,896,942,664.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the completion of the sale, the executive vice president now owns 25,428 shares in the company, valued at $20,835,194.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,120,089 shares of company stock valued at $990,278,343. Insiders own 0.13% of the company’s stock.

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.