Northwest Investment Counselors LLC Raises Holdings in Eli Lilly and Company (NYSE:LLY)

Northwest Investment Counselors LLC increased its position in shares of Eli Lilly and Company (NYSE:LLY) by 68.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 837 shares of the company’s stock after buying an additional 341 shares during the period. Northwest Investment Counselors LLC’s holdings in Eli Lilly and Company were worth $758,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in LLY. Lipe & Dalton bought a new stake in shares of Eli Lilly and Company in the 4th quarter valued at about $26,000. Tidemark LLC bought a new position in Eli Lilly and Company in the fourth quarter worth approximately $29,000. Core Wealth Advisors Inc. raised its stake in Eli Lilly and Company by 188.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after buying 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 $32,000. Finally, Frank Rimerman Advisors LLC purchased a new position in shares of Eli Lilly and Company in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating and upped their price objective for the stock from $725.00 to $1,025.00 in a research note on Monday. Guggenheim raised their price target 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. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,023.00 price objective on shares of Eli Lilly and Company in a research report on Friday, July 5th. Wells Fargo & Company increased their target price on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $945.35.

Eli Lilly and Company Stock Performance

Shares of LLY stock traded down $7.30 on Monday, hitting $884.38. The company had a trading volume of 4,102,268 shares, compared to its average volume of 3,096,699. Eli Lilly and Company has a twelve month low of $516.57 and a twelve 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. The firm has a market cap of $840.52 billion, a P/E ratio of 131.32, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. The company has a 50-day moving average price of $871.07 and a 200-day moving average price of $796.61.

Eli Lilly and Company Announces Dividend

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 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the transaction, the insider now owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 25,428 shares in the company, valued at $20,835,194.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the completion of the transaction, the insider now directly owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. 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. Corporate 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.