Eli Lilly and Company (NYSE:LLY) Shares Acquired by Traynor Capital Management Inc.

Traynor Capital Management Inc. increased its position in Eli Lilly and Company (NYSE:LLY) by 38.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 42,657 shares of the company’s stock after buying an additional 11,824 shares during the quarter. Eli Lilly and Company comprises about 2.9% of Traynor Capital Management Inc.’s investment portfolio, making the stock its 8th biggest position. Traynor Capital Management Inc.’s holdings in Eli Lilly and Company were worth $38,621,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LLY. Everpar Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at about $1,845,000. International Assets Investment Management LLC raised its stake in shares of Eli Lilly and Company by 5.3% during the fourth quarter. International Assets Investment Management LLC now owns 12,597 shares of the company’s stock valued at $7,343,000 after purchasing an additional 632 shares during the period. AMJ Financial Wealth Management acquired a new position in shares of Eli Lilly and Company during the fourth quarter worth $201,000. GUNN & Co INVESTMENT MANAGEMENT INC. grew its holdings in Eli Lilly and Company by 124.7% during the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 1,438 shares of the company’s stock valued at $838,000 after purchasing an additional 798 shares in the last quarter. Finally, Marks Group Wealth Management Inc increased its stake in Eli Lilly and Company by 28.8% during the 4th quarter. Marks Group Wealth Management Inc now owns 612 shares of the company’s stock worth $357,000 after buying an additional 137 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock traded down $1.43 during trading on Friday, hitting $952.74. 2,063,309 shares of the stock were exchanged, compared to its average volume of 3,096,351. 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 12 month low of $516.57 and a 12 month high of $972.53. The stock’s fifty day moving average is $886.32 and its 200 day moving average is $813.81. The stock has a market cap of $905.49 billion, a PE ratio of 140.32, a P/E/G ratio of 1.81 and a beta of 0.41.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.55%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised Eli Lilly and Company from a “hold” rating to a “buy” rating and lifted their target price for the stock from $725.00 to $1,025.00 in a research 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. Bank of America raised their price target on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Jefferies Financial Group increased their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, JPMorgan Chase & Co. boosted 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 research report on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $956.88.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the sale, the insider now owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the sale, the insider now directly owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Johna Norton sold 7,056 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the completion of the transaction, the executive vice president now owns 25,428 shares of the company’s stock, valued at approximately $20,835,194.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,122,141 shares of company stock worth $991,938,411. 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.