AlphaStar Capital Management LLC Acquires 530 Shares of Eli Lilly and Company (NYSE:LLY)

AlphaStar Capital Management LLC increased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 7.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,799 shares of the company’s stock after purchasing an additional 530 shares during the period. Eli Lilly and Company makes up 0.7% of AlphaStar Capital Management LLC’s portfolio, making the stock its 26th biggest position. AlphaStar Capital Management LLC’s holdings in Eli Lilly and Company were worth $7,061,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Eli Lilly and Company by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after purchasing an additional 1,133,810 shares in the last quarter. Capital World Investors lifted its stake in Eli Lilly and Company by 0.3% in the 4th quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock valued at $15,709,466,000 after acquiring an additional 89,720 shares in the last quarter. Norges Bank bought a new stake in Eli Lilly and Company in the 4th quarter valued at approximately $5,992,890,000. Capital Research Global Investors lifted its stake in Eli Lilly and Company by 6.0% in the 1st quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock valued at $6,248,210,000 after acquiring an additional 453,939 shares in the last quarter. Finally, Capital International Investors lifted its stake in Eli Lilly and Company by 5.1% in the 1st quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock valued at $5,424,243,000 after acquiring an additional 335,560 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on LLY shares. Bank of America boosted their target price on 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research report on Monday, August 19th. Berenberg Bank boosted their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Barclays boosted their price target on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft raised Eli Lilly and Company from a “hold” rating to a “buy” rating and boosted their price target for the stock from $725.00 to $1,025.00 in a research report on Monday, August 12th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $961.76.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 22,206 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $822.11, for a total transaction of $18,255,774.66. Following the transaction, the insider now owns 98,401,604 shares in the company, valued at approximately $80,896,942,664.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 22,206 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $822.11, for a total transaction of $18,255,774.66. Following the transaction, the insider now owns 98,401,604 shares in the company, valued at approximately $80,896,942,664.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, 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 1,120,089 shares of company stock worth $990,278,343 in the last 90 days. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY stock traded up $11.69 during trading on Tuesday, reaching $962.22. 1,389,156 shares of the company’s stock were exchanged, compared to its average volume of 3,080,392. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $914.50 billion, a PE ratio of 141.82, a PEG ratio of 1.81 and a beta of 0.41. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $972.53. The firm’s fifty day moving average price is $887.63 and its 200-day moving average price is $816.72.

Eli Lilly and Company Dividend Announcement

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 annualized dividend and a yield of 0.54%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

About Eli Lilly and Company

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.