Long Run Wealth Advisors LLC Takes $209,000 Position in Eli Lilly and Company (NYSE:LLY)

Long Run Wealth Advisors LLC purchased a new position in Eli Lilly and Company (NYSE:LLY) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 231 shares of the company’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tidemark LLC bought a new stake in shares of Eli Lilly and Company during the fourth quarter worth $29,000. Core Wealth Advisors Inc. grew its holdings in Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after acquiring an additional 32 shares during the last quarter. Lynx Investment Advisory acquired a new stake in Eli Lilly and Company in the 2nd quarter valued at about $32,000. Frank Rimerman Advisors LLC acquired a new stake in Eli Lilly and Company in the 4th quarter valued at about $37,000. Finally, St. Johns Investment Management Company LLC lifted its position in shares of Eli Lilly and Company by 123.3% during the fourth quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock worth $39,000 after purchasing an additional 37 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 0.3 %

NYSE LLY traded down $2.47 on Monday, reaching $919.65. The company had a trading volume of 803,238 shares, compared to its average volume of 3,083,729. The company’s fifty day moving average is $878.93 and its 200-day moving average is $806.28. The firm has a market capitalization of $874.04 billion, a price-to-earnings ratio of 135.44, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. 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 has a 1-year low of $516.57 and a 1-year high of $966.10.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.57%. Eli Lilly and Company’s dividend payout ratio is 76.58%.

Analysts Set New Price Targets

Several research firms have issued reports on LLY. Barclays increased their price objective 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. JPMorgan Chase & Co. raised their price target on Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday, August 5th. Morgan Stanley reaffirmed 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. Finally, Wells Fargo & Company boosted their price target on shares of 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. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $956.88.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company 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 $91,109,731,514.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value of $197,362,200.00. Following the transaction, the insider now owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Johna Norton sold 7,056 shares of the firm’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 sale, the executive vice president now owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The disclosure for this sale can be found here. Insiders sold a total of 1,214,704 shares of company stock worth $1,066,841,316 over the last ninety days. 0.13% of the stock is currently owned by corporate 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.