Tower Bridge Advisors Reduces Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Tower Bridge Advisors lessened its position in shares of Eli Lilly and Company (NYSE:LLY) by 1.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,039 shares of the company’s stock after selling 62 shares during the quarter. Tower Bridge Advisors’ holdings in Eli Lilly and Company were worth $5,468,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Twelve Points Wealth Management LLC boosted its position in shares of Eli Lilly and Company by 1.4% during the 2nd quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock valued at $734,000 after purchasing an additional 11 shares in the last quarter. Verum Partners LLC lifted its stake in Eli Lilly and Company by 1.5% during the second quarter. Verum Partners LLC now owns 731 shares of the company’s stock valued at $662,000 after purchasing an additional 11 shares during the last quarter. Acorn Creek Capital LLC boosted its holdings in Eli Lilly and Company by 1.3% during the second quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock worth $840,000 after buying an additional 12 shares in the last quarter. Thompson Davis & CO. Inc. grew its position in Eli Lilly and Company by 0.7% in the second quarter. Thompson Davis & CO. Inc. now owns 1,687 shares of the company’s stock worth $1,527,000 after buying an additional 12 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of Eli Lilly and Company by 1.8% in the first quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock valued at $573,000 after buying an additional 13 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Down 0.1 %

Shares of NYSE LLY traded down $1.43 during mid-day trading on Friday, reaching $952.74. The company had a trading volume of 2,063,309 shares, compared to its average volume of 3,096,351. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $972.53. The stock’s 50 day moving average is $886.32 and its 200-day moving average is $813.81. The stock has a market capitalization of $905.49 billion, a PE ratio of 140.32, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41.

Eli Lilly and Company Dividend Announcement

The company 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 is Thursday, August 15th. Eli Lilly and Company’s payout ratio is currently 76.58%.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 22,206 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $822.11, for a total value of $18,255,774.66. Following the completion of the sale, the insider now owns 98,401,604 shares of the company’s stock, valued at approximately $80,896,942,664.44. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, major shareholder Lilly Endowment Inc sold 22,206 shares of Eli Lilly and Company stock in a transaction on Friday, May 31st. The shares were sold at an average price of $822.11, for a total value of $18,255,774.66. Following the completion of the sale, the insider now owns 98,401,604 shares of the company’s stock, valued at approximately $80,896,942,664.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Johna Norton sold 7,056 shares of the company’s stock in a transaction 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 owns 25,428 shares of the company’s stock, valued at $20,835,194.64. 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. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, August 19th. Berenberg Bank lifted 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. Truist Financial restated a “buy” rating and set a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Wells Fargo & Company raised their target price on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Finally, Guggenheim boosted their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $956.88.

Eli Lilly and Company 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.