HB Wealth Management LLC Grows Stock Position in Eli Lilly and Company (NYSE:LLY)

HB Wealth Management LLC boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 7.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,460 shares of the company’s stock after acquiring an additional 2,745 shares during the period. Eli Lilly and Company comprises 0.4% of HB Wealth Management LLC’s portfolio, making the stock its 27th largest holding. HB Wealth Management LLC’s holdings in Eli Lilly and Company were worth $37,537,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of LLY. Tidemark LLC acquired a new stake in shares of Eli Lilly and Company during the fourth quarter valued at $29,000. Core Wealth Advisors Inc. boosted 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 worth $29,000 after purchasing an additional 32 shares during the last quarter. Lynx Investment Advisory purchased a new stake in shares of Eli Lilly and Company during the second quarter worth about $32,000. Frank Rimerman Advisors LLC acquired a new position in shares of Eli Lilly and Company in the fourth quarter valued at approximately $37,000. Finally, St. Johns Investment Management Company LLC raised its position in shares of Eli Lilly and Company by 123.3% in the fourth quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock valued at $39,000 after buying an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 0.0 %

Eli Lilly and Company stock traded down $0.34 during trading on Thursday, reaching $948.60. 396,305 shares of the company’s stock were exchanged, compared to its average volume of 3,065,188. The company’s 50-day moving average is $888.89 and its two-hundred day moving average is $818.23. 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 52-week low of $516.57 and a 52-week high of $972.53. The firm has a market cap of $901.55 billion, a price-to-earnings ratio of 139.76, a PEG ratio of 1.81 and a beta of 0.41.

Eli Lilly and Company Announces Dividend

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

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s 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 transaction, the insider now directly owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Johna Norton sold 7,056 shares of Eli Lilly and Company stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the sale, the executive vice president now directly owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total value of $197,362,200.00. Following the completion of the transaction, the insider now owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,120,089 shares of company stock worth $990,278,343. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on LLY shares. Truist Financial reaffirmed a “buy” rating and issued a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Morgan Stanley reiterated an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday. Jefferies Financial Group increased their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Bank of America lifted their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Barclays boosted their target price on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $961.76.

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.