Blue Chip Partners LLC Raises Holdings in Eli Lilly and Company (NYSE:LLY)

Blue Chip Partners LLC grew its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 8.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,909 shares of the company’s stock after purchasing an additional 1,115 shares during the quarter. Blue Chip Partners LLC’s holdings in Eli Lilly and Company were worth $13,498,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Tidemark LLC bought a new position in shares of Eli Lilly and Company in the fourth quarter worth $29,000. Core Wealth Advisors Inc. increased its stake in Eli Lilly and Company by 188.2% in 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 purchased a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at about $32,000. Frank Rimerman Advisors LLC bought a new stake in shares of Eli Lilly and Company during the 4th quarter valued at about $37,000. Finally, St. Johns Investment Management Company LLC grew its holdings 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. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $940.92 on Friday. The business has a fifty day moving average price of $890.04 and a 200-day moving average price of $819.14. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. The company has a market capitalization of $894.26 billion, a PE ratio of 138.47, a PEG ratio of 1.81 and a beta of 0.41. Eli Lilly and Company has a 1-year low of $516.57 and a 1-year high of $972.53.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given 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 (DPR) is currently 76.58%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Bank of America raised their target price on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $725.00 to $1,025.00 in a report on Monday, August 12th. Guggenheim increased their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Argus lifted their price target on 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, Wells Fargo & Company increased their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $961.76.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction 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 filing with the SEC, which is available at the SEC website. In other news, major shareholder Lilly Endowment Inc sold 192,794 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $829.77, for a total value of $159,974,677.38. Following the transaction, the insider now owns 98,208,810 shares in the company, valued at approximately $81,490,724,273.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. Insiders sold a total of 1,097,883 shares of company stock worth $972,022,568 in the last three months. 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.