Cidel Asset Management Inc. Has $9.07 Million Stake in Eli Lilly and Company (NYSE:LLY)

Cidel Asset Management Inc. grew its holdings in Eli Lilly and Company (NYSE:LLY) by 1,456.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,022 shares of the company’s stock after buying an additional 9,378 shares during the period. Cidel Asset Management Inc.’s holdings in Eli Lilly and Company were worth $9,074,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Eli Lilly and Company during the 4th quarter worth $5,992,890,000. Swedbank AB bought a new position in Eli Lilly and Company during the 1st quarter worth $932,797,000. Sapient Capital LLC bought a new position in Eli Lilly and Company during the 4th quarter worth $682,139,000. Vanguard Group Inc. increased its stake in Eli Lilly and Company by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after acquiring an additional 1,133,810 shares during the period. Finally, GQG Partners LLC increased its stake in 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 worth $2,994,280,000 after acquiring an additional 648,094 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’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 sale, the insider now directly owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the sale, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction that occurred 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 transaction, the insider now owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The disclosure for this sale can be found here. Insiders have sold 1,214,704 shares of company stock valued at $1,066,841,316 over the last ninety days. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

LLY has been the topic of several recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday. Barclays boosted their price objective 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. BMO Capital Markets lifted their target price on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Morgan Stanley reaffirmed an “overweight” rating and set a $1,023.00 target price on shares of Eli Lilly and Company in a report on Friday, July 5th. Finally, Wells Fargo & Company boosted their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $956.88.

Eli Lilly and Company Trading Up 2.7 %

Shares of NYSE:LLY traded up $25.10 on Tuesday, reaching $946.91. 3,822,019 shares of the company traded hands, compared to its average volume of 3,098,164. The business’s 50-day simple moving average is $880.04 and its 200 day simple moving average is $808.13. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $967.00. The stock has a market capitalization of $899.95 billion, a P/E ratio of 140.67, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. The company has a current ratio of 1.35, a quick ratio of 1.03 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. Investors of record on Thursday, August 15th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.55%. Eli Lilly and Company’s payout ratio is presently 76.58%.

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.