Keb Asset Management LLC Raises Holdings in Eli Lilly and Company (NYSE:LLY)

Keb Asset Management LLC raised its stake in Eli Lilly and Company (NYSE:LLY) by 70.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 850 shares of the company’s stock after purchasing an additional 350 shares during the period. Keb Asset Management LLC’s holdings in Eli Lilly and Company were worth $770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in LLY. Tidemark LLC acquired a new stake in Eli Lilly and Company in the fourth quarter valued at $29,000. Core Wealth Advisors Inc. raised its position 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 acquiring an additional 32 shares in the last quarter. Lynx Investment Advisory purchased a new stake in Eli Lilly and Company during the second quarter worth approximately $32,000. Frank Rimerman Advisors LLC acquired a new position in Eli Lilly and Company in the fourth quarter valued at approximately $37,000. Finally, St. Johns Investment Management Company LLC increased its stake in 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 purchasing 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 Trading Down 0.1 %

Shares of Eli Lilly and Company stock opened at $952.74 on Monday. The firm has a market cap of $905.49 billion, a price-to-earnings ratio of 140.32, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. Eli Lilly and Company has a 52-week low of $516.57 and a 52-week high of $972.53. The company’s 50-day simple moving average is $886.32 and its 200-day simple moving average is $815.20. 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. Stockholders of record on Thursday, August 15th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LLY. Truist Financial restated a “buy” rating and issued a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Argus raised their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Jefferies Financial Group boosted their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a report on Monday, June 24th. Berenberg Bank raised their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. boosted their price objective on Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus target price of $956.88.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 22,206 shares of the company’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $822.11, for a total transaction of $18,255,774.66. Following the transaction, the insider now owns 98,401,604 shares of the company’s stock, valued at $80,896,942,664.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Lilly Endowment Inc sold 22,206 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $822.11, for a total transaction of $18,255,774.66. Following the sale, the insider now owns 98,401,604 shares of the company’s stock, valued at $80,896,942,664.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction dated Monday, June 3rd. The shares were 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 $5,842,821.10. The disclosure for this sale can be found here. Insiders sold 1,122,141 shares of company stock valued at $991,938,411 in the last three months. 0.13% of the stock is currently owned by company insiders.

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.