Lynx Investment Advisory Invests $32,000 in Eli Lilly and Company (NYSE:LLY)

Lynx Investment Advisory bought a new stake in shares of Eli Lilly and Company (NYSE:LLY) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 35 shares of the company’s stock, valued at approximately $32,000.

Other hedge funds also recently added to or reduced their stakes in the company. Everpar Advisors LLC acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at $1,845,000. Allworth Financial LP grew its holdings in Eli Lilly and Company by 4.4% in the fourth quarter. Allworth Financial LP now owns 5,521 shares of the company’s stock valued at $3,218,000 after purchasing an additional 233 shares during the period. Firethorn Wealth Partners LLC increased its position in shares of Eli Lilly and Company by 31.8% in the fourth quarter. Firethorn Wealth Partners LLC now owns 828 shares of the company’s stock valued at $483,000 after buying an additional 200 shares in the last quarter. Bristlecone Advisors LLC raised its stake in shares of Eli Lilly and Company by 3.0% during the 4th quarter. Bristlecone Advisors LLC now owns 2,049 shares of the company’s stock worth $1,194,000 after buying an additional 60 shares during the period. Finally, One Wealth Management Investment & Advisory Services LLC purchased a new position in shares of Eli Lilly and Company during the 4th quarter valued at approximately $559,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Down 2.6 %

Shares of LLY traded down $20.85 during midday trading on Wednesday, hitting $772.33. 2,471,669 shares of the stock were exchanged, compared to its average volume of 3,011,629. Eli Lilly and Company has a 52-week low of $502.71 and a 52-week high of $966.10. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The stock has a fifty day simple moving average of $869.86 and a 200 day simple moving average of $792.28. The firm has a market cap of $734.03 billion, a P/E ratio of 113.25, a P/E/G ratio of 1.81 and a beta of 0.41.

Eli Lilly and Company Announces Dividend

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 0.67%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the transaction, the chief accounting officer now owns 7,130 shares in the company, valued at $5,842,821.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Donald A. Zakrowski sold 750 shares of the business’s 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 of the company’s stock, valued at approximately $5,842,821.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value of $197,362,200.00. Following the completion of the sale, the insider now directly 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. Insiders have sold 1,214,704 shares of company stock worth $1,066,841,316 over the last three months. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LLY. JPMorgan Chase & Co. upped their price objective 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. Argus boosted their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Jefferies Financial Group raised their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Morgan Stanley reissued an “overweight” rating and issued a $1,023.00 price objective on shares of Eli Lilly and Company in a research note on Friday, July 5th. Finally, Truist Financial reaffirmed a “buy” rating and set a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.