Lodestone Wealth Management LLC Sells 17 Shares of Eli Lilly and Company (NYSE:LLY)

Lodestone Wealth Management LLC trimmed its position in shares of Eli Lilly and Company (NYSE:LLY) by 3.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 481 shares of the company’s stock after selling 17 shares during the quarter. Lodestone Wealth Management LLC’s holdings in Eli Lilly and Company were worth $436,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in LLY. Lipe & Dalton purchased a new position in shares of Eli Lilly and Company during the 4th quarter valued at $26,000. Tidemark LLC bought a new stake in Eli Lilly and Company during the fourth quarter valued at approximately $29,000. Core Wealth Advisors Inc. grew its position in Eli Lilly and Company by 188.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after acquiring an additional 32 shares in the last quarter. Lynx Investment Advisory purchased a new position in shares of Eli Lilly and Company during the second quarter worth approximately $32,000. Finally, Frank Rimerman Advisors LLC bought a new stake in shares of Eli Lilly and Company in the 4th quarter valued at about $37,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Trading Up 2.2 %

LLY stock traded up $19.94 during midday trading on Wednesday, reaching $927.99. 1,940,946 shares of the company traded hands, compared to its average volume of 3,092,584. The business has a 50 day moving average of $873.64 and a 200-day moving average of $800.31. Eli Lilly and Company has a 52-week low of $516.57 and a 52-week high of $966.10. The firm has a market capitalization of $881.97 billion, a price-to-earnings ratio of 136.49, a P/E/G 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 disclosed 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. This represents a $5.20 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded 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 research report on Monday. JPMorgan Chase & Co. lifted their target price on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Berenberg Bank increased 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 research report on Wednesday. Guggenheim lifted their target price on shares of Eli Lilly and Company from $855.00 to $884.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, BMO Capital Markets upped their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $948.29.

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.