Apollon Wealth Management LLC Grows Position in Eli Lilly and Company (NYSE:LLY)

Apollon Wealth Management LLC raised its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 2.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 13,294 shares of the company’s stock after purchasing an additional 369 shares during the period. Apollon Wealth Management LLC’s holdings in Eli Lilly and Company were worth $12,036,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Norges Bank bought a new stake in shares of Eli Lilly and Company in the 4th quarter valued at about $5,992,890,000. Swedbank AB acquired a new stake in Eli Lilly and Company in the first quarter valued at approximately $932,797,000. Sapient Capital LLC purchased a new position in Eli Lilly and Company in the fourth quarter worth $682,139,000. Vanguard Group Inc. increased its position in shares of Eli Lilly and Company by 1.6% during the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after purchasing an additional 1,133,810 shares in the last quarter. Finally, GQG Partners LLC lifted its holdings in shares of Eli Lilly and Company by 20.2% during the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after purchasing an additional 648,094 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY traded down $0.31 during trading on Monday, hitting $921.81. 2,169,686 shares of the stock traded hands, compared to its average volume of 3,093,591. The company has a fifty day moving average price of $878.93 and a two-hundred day moving average price of $806.28. Eli Lilly and Company has a 52-week low of $516.57 and a 52-week high of $966.10. The company has a market cap of $876.09 billion, a price-to-earnings ratio of 135.64, a P/E/G ratio of 1.81 and a beta of 0.41. 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 company also recently disclosed 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. The ex-dividend date is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.56%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LLY. Berenberg Bank boosted their target price 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. Deutsche Bank Aktiengesellschaft raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and boosted their target price for the stock from $725.00 to $1,025.00 in a research report on Monday, August 12th. Guggenheim raised their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday. Bank of America boosted 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 report on Friday, August 9th. Finally, Wells Fargo & Company upped their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $956.88.

Insider Transactions at Eli Lilly and Company

In related 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of the company’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 completion of the transaction, the insider now directly owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company 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 sale, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. Insiders have sold a total of 1,214,704 shares of company stock valued at $1,066,841,316 in the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

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.