Biltmore Wealth Management LLC Makes New Investment in Eli Lilly and Company (NYSE:LLY)

Biltmore Wealth Management LLC purchased a new stake in shares of Eli Lilly and Company (NYSE:LLY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 241 shares of the company’s stock, valued at approximately $218,000.

Other hedge funds also recently modified their holdings of the company. Lynx Investment Advisory bought a new position in Eli Lilly and Company during the second quarter worth $32,000. Lipe & Dalton bought a new position in shares of Eli Lilly and Company in the 4th quarter worth about $26,000. Core Wealth Advisors Inc. lifted its stake in shares of Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after purchasing an additional 32 shares during the period. Activest Wealth Management acquired a new position in shares of Eli Lilly and Company in the 1st quarter valued at about $39,000. Finally, Tidemark LLC bought a new stake in shares of Eli Lilly and Company during the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LLY. Jefferies Financial Group raised their price objective on shares of 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. Barclays raised their price target on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Guggenheim upped their price objective on shares of Eli Lilly and Company from $855.00 to $884.00 and gave the company a “buy” rating in a report on Monday, August 5th. Berenberg Bank raised their target price on Eli Lilly and Company from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $916.53.

Insiders Place Their Bets

In other Eli Lilly and Company news, 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 of the company’s stock, valued at approximately $91,109,731,514.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Johna Norton sold 7,056 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the transaction, the executive vice president now directly owns 25,428 shares in the company, valued at $20,835,194.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,214,704 shares of company stock valued at $1,066,841,316. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Up 5.5 %

Eli Lilly and Company stock traded up $46.37 during trading hours on Friday, hitting $891.68. The stock had a trading volume of 6,587,628 shares, compared to its average volume of 3,089,428. The stock’s 50-day moving average price is $871.07 and its 200-day moving average price is $796.61. The stock has a market capitalization of $847.46 billion, a P/E ratio of 131.32, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. Eli Lilly and Company has a 12-month low of $516.57 and a 12-month high of $966.10. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be paid a dividend of $1.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.58%. Eli Lilly and Company’s dividend 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.