Kraematon Investment Advisors Inc. Trims Holdings in Eli Lilly and Company (NYSE:LLY)

Kraematon Investment Advisors Inc. reduced its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 995 shares of the company’s stock after selling 24 shares during the period. Kraematon Investment Advisors Inc.’s holdings in Eli Lilly and Company were worth $901,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Biltmore Wealth Management LLC acquired a new position in Eli Lilly and Company in the 2nd quarter valued at about $218,000. Keystone Wealth Services LLC increased its holdings in shares of Eli Lilly and Company by 19.3% in the second quarter. Keystone Wealth Services LLC now owns 774 shares of the company’s stock valued at $700,000 after purchasing an additional 125 shares during the period. Sitrin Capital Management LLC acquired a new stake in shares of Eli Lilly and Company during the second quarter worth $5,986,000. Evanson Asset Management LLC grew its position in Eli Lilly and Company by 4.8% in the 2nd quarter. Evanson Asset Management LLC now owns 1,412 shares of the company’s stock valued at $1,278,000 after buying an additional 65 shares during the last quarter. Finally, Fermata Advisors LLC increased its stake in Eli Lilly and Company by 11.0% in the 2nd quarter. Fermata Advisors LLC now owns 1,235 shares of the company’s stock valued at $1,118,000 after buying an additional 122 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction on 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 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 accessible through this hyperlink. In other Eli Lilly and Company news, EVP Johna Norton sold 7,056 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the sale, the executive vice president now owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 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 in the company, valued at $91,109,731,514.20. 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. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

LLY has been the subject of several recent analyst reports. BMO Capital Markets raised their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research note on Friday. Bank of America raised their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. boosted their target price on 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. Morgan Stanley reissued an “overweight” rating and set a $1,023.00 target price on shares of Eli Lilly and Company in a research note on Friday, July 5th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $916.53.

Eli Lilly and Company Trading Up 5.5 %

Shares of Eli Lilly and Company stock traded up $46.37 during trading hours on Friday, reaching $891.68. 6,587,628 shares of the company’s stock were exchanged, compared to its average volume of 3,089,428. The firm has a market capitalization of $847.46 billion, a price-to-earnings ratio of 131.32, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. Eli Lilly and Company has a 52-week low of $516.57 and a 52-week high of $966.10. The company has a fifty day moving average of $871.07 and a 200-day moving average of $796.61.

Eli Lilly and Company Dividend Announcement

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