Atlantic Edge Private Wealth Management LLC Sells 35 Shares of Eli Lilly and Company (NYSE:LLY)

Atlantic Edge Private Wealth Management LLC lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,258 shares of the company’s stock after selling 35 shares during the period. Atlantic Edge Private Wealth Management LLC’s holdings in Eli Lilly and Company were worth $1,139,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LLY. Norges Bank purchased a new stake in Eli Lilly and Company in the 4th quarter worth $5,992,890,000. Swedbank AB purchased a new stake in shares of Eli Lilly and Company during the 1st quarter worth $932,797,000. Sapient Capital LLC acquired a new position in Eli Lilly and Company in the 4th quarter valued at about $682,139,000. Vanguard Group Inc. increased its stake in shares of Eli Lilly and Company by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after acquiring an additional 1,133,810 shares during the last quarter. Finally, GQG Partners LLC boosted its holdings in Eli Lilly and Company by 20.2% in the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock worth $2,994,280,000 after acquiring an additional 648,094 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on LLY shares. Argus upped their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Deutsche Bank Aktiengesellschaft raised Eli Lilly and Company from a “hold” rating to a “buy” rating and raised their price objective for the company from $725.00 to $1,025.00 in a research report on Monday, August 12th. BMO Capital Markets boosted their target price on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Guggenheim lifted their price objective on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, Barclays boosted their price target on 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. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $961.76.

Eli Lilly and Company Stock Up 0.4 %

Shares of LLY traded up $4.22 during midday trading on Tuesday, hitting $954.75. The stock had a trading volume of 1,879,023 shares, compared to its average volume of 3,083,025. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $972.53. The company has a 50 day simple moving average of $887.63 and a two-hundred day simple moving average of $816.72. The firm has a market cap of $907.40 billion, a price-to-earnings ratio of 141.82, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the sale, 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 filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Lilly Endowment Inc sold 22,206 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $822.11, for a total value of $18,255,774.66. Following the sale, the insider now owns 98,401,604 shares of the company’s stock, valued at $80,896,942,664.44. The disclosure for this sale can be found here. Insiders sold a total of 1,120,089 shares of company stock valued at $990,278,343 over the last three months. Corporate insiders own 0.13% of the company’s stock.

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.