Eli Lilly and Company (NYSE:LLY) Shares Purchased by Independence Bank of Kentucky

Independence Bank of Kentucky boosted its stake in shares of Eli Lilly and Company (NYSE:LLY) by 3.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,379 shares of the company’s stock after purchasing an additional 182 shares during the period. Eli Lilly and Company makes up approximately 1.3% of Independence Bank of Kentucky’s portfolio, making the stock its 15th biggest holding. Independence Bank of Kentucky’s holdings in Eli Lilly and Company were worth $4,870,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Everpar Advisors LLC purchased a new stake in Eli Lilly and Company during the fourth quarter worth approximately $1,845,000. International Assets Investment Management LLC increased its holdings in Eli Lilly and Company by 5.3% in the 4th quarter. International Assets Investment Management LLC now owns 12,597 shares of the company’s stock valued at $7,343,000 after purchasing an additional 632 shares in the last quarter. AMJ Financial Wealth Management purchased a new position in Eli Lilly and Company in the fourth quarter valued at about $201,000. GUNN & Co INVESTMENT MANAGEMENT INC. lifted its stake in shares of Eli Lilly and Company by 124.7% during the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 1,438 shares of the company’s stock worth $838,000 after purchasing an additional 798 shares in the last quarter. Finally, Providence First Trust Co purchased a new stake in shares of Eli Lilly and Company in the fourth quarter worth about $274,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Buying and Selling at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company 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 sale, 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 legal filing with the SEC, which is available at the SEC website. In related news, EVP Johna Norton sold 7,056 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 transaction 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 1,122,141 shares of company stock worth $991,938,411. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $952.74 on Monday. The stock has a market capitalization of $905.49 billion, a P/E ratio of 140.32, a P/E/G ratio of 1.81 and a beta of 0.41. The firm’s 50-day moving average price is $886.32 and its two-hundred day moving average price is $815.20. Eli Lilly and Company has a 52-week low of $516.57 and a 52-week high of $972.53. 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 Dividend Announcement

The business 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 0.55%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Wall Street Analysts Forecast Growth

LLY has been the topic of several recent research reports. Barclays boosted their price target on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. raised their price target on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. 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 19th. Deutsche Bank Aktiengesellschaft raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and upped their price objective for the company from $725.00 to $1,025.00 in a research report on Monday, August 12th. Finally, Jefferies Financial Group boosted their price target on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $956.88.

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.