Insight Wealth Strategies LLC Invests $201,000 in Eli Lilly and Company (NYSE:LLY)

Insight Wealth Strategies LLC purchased a new position in Eli Lilly and Company (NYSE:LLY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 222 shares of the company’s stock, valued at approximately $201,000.

Other institutional investors have also modified their holdings of the company. Lipe & Dalton acquired a new position in Eli Lilly and Company during the fourth quarter worth $26,000. Core Wealth Advisors Inc. grew its stake in shares of Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 32 shares during the period. Activest Wealth Management acquired a new stake in Eli Lilly and Company during the first quarter worth about $39,000. Tidemark LLC purchased a new position in Eli Lilly and Company in the fourth quarter valued at approximately $29,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Eli Lilly and Company during the 1st quarter worth $40,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 92,563 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $809.21, for a total value of $74,902,905.23. Following the transaction, the insider now owns 98,556,247 shares in the company, valued at $79,752,700,634.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Lilly Endowment Inc sold 92,563 shares of Eli Lilly and Company stock in a transaction on Friday, May 24th. The stock was sold at an average price of $809.21, for a total value of $74,902,905.23. Following the completion of the transaction, the insider now directly owns 98,556,247 shares in the company, valued at $79,752,700,634.87. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the sale, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. Insiders have sold a total of 1,214,704 shares of company stock worth $1,066,841,316 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY traded up $18.03 during trading hours on Tuesday, reaching $793.29. The stock had a trading volume of 3,435,081 shares, compared to its average volume of 3,015,681. The company’s 50-day moving average is $870.16 and its two-hundred day moving average is $791.12. Eli Lilly and Company has a 12 month low of $450.58 and a 12 month high of $966.10. The stock has a market capitalization of $753.95 billion, a PE ratio of 117.58, a PEG 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.66%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LLY shares. Berenberg Bank raised their target price on Eli Lilly and Company from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Truist Financial restated a “buy” rating and issued a $1,000.00 price target (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. JPMorgan Chase & Co. increased their target price on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Barclays raised their target price on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Finally, Argus upped their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $860.05.

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.