Legacy Capital Group California Inc. Sells 39 Shares of Eli Lilly and Company (NYSE:LLY)

Legacy Capital Group California Inc. decreased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,853 shares of the company’s stock after selling 39 shares during the period. Legacy Capital Group California Inc.’s holdings in Eli Lilly and Company were worth $1,678,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Twelve Points Wealth Management LLC boosted its stake in shares of Eli Lilly and Company by 1.4% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock worth $734,000 after buying an additional 11 shares during the last quarter. Verum Partners LLC grew its stake in Eli Lilly and Company by 1.5% in the 2nd quarter. Verum Partners LLC now owns 731 shares of the company’s stock valued at $662,000 after purchasing an additional 11 shares during the period. Acorn Creek Capital LLC increased its position in shares of Eli Lilly and Company by 1.3% during the 2nd quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock valued at $840,000 after purchasing an additional 12 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Eli Lilly and Company by 1.8% during the 1st quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock worth $573,000 after purchasing an additional 13 shares during the period. Finally, Innova Wealth Partners boosted its holdings in shares of Eli Lilly and Company by 1.2% in the 1st quarter. Innova Wealth Partners now owns 1,068 shares of the company’s stock worth $831,000 after buying an additional 13 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

LLY has been the topic of several research reports. Jefferies Financial Group lifted 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 increased their price objective on 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. 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. Argus increased their price target 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. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $956.88.

Eli Lilly and Company Price Performance

NYSE LLY traded up $1.58 on Wednesday, hitting $951.55. The stock had a trading volume of 1,880,307 shares, compared to its average volume of 3,097,677. The firm has a 50-day moving average of $881.72 and a 200-day moving average of $810.11. 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 $967.00. The company has a market capitalization of $904.36 billion, a price-to-earnings ratio of 139.10, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a $1.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.55%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of the company’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 transaction, the insider now directly owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $197,362,200.00. Following the sale, the insider now owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Johna Norton sold 7,056 shares of the company’s stock in a transaction on 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 completion of the transaction, the executive vice president now owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,214,704 shares of company stock valued at $1,066,841,316. Company insiders own 0.13% of the company’s stock.

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.