Corundum Group Inc. Has $3.56 Million Stake in Eli Lilly and Company (NYSE:LLY)

Corundum Group Inc. lifted its position in Eli Lilly and Company (NYSE:LLY) by 161.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,929 shares of the company’s stock after purchasing an additional 2,427 shares during the quarter. Eli Lilly and Company accounts for 1.4% of Corundum Group Inc.’s portfolio, making the stock its 18th largest position. Corundum Group Inc.’s holdings in Eli Lilly and Company were worth $3,557,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Lynx Investment Advisory acquired a new position in Eli Lilly and Company during the second quarter worth $32,000. Lipe & Dalton acquired a new position in Eli Lilly and Company during the fourth quarter worth $26,000. Core Wealth Advisors Inc. raised its stake in Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after acquiring an additional 32 shares in the last quarter. Activest Wealth Management acquired a new position in Eli Lilly and Company during the first quarter worth $39,000. Finally, Tidemark LLC acquired a new position in Eli Lilly and Company during the fourth quarter worth $29,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Up 0.1 %

Shares of NYSE LLY traded up $1.20 during mid-day trading on Thursday, reaching $931.58. 3,047,801 shares of the company’s stock were exchanged, compared to its average volume of 3,102,805. The firm has a market capitalization of $885.38 billion, a price-to-earnings ratio of 137.20, a PEG 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. The business has a fifty day simple moving average of $877.49 and a 200 day simple moving average of $802.12. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $966.10.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 92,563 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $809.21, for a total value of $74,902,905.23. Following the completion of the transaction, the insider now directly owns 98,556,247 shares in the company, valued at $79,752,700,634.87. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 92,563 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $809.21, for a total value of $74,902,905.23. Following the completion of the transaction, the insider now directly owns 98,556,247 shares in the company, valued at $79,752,700,634.87. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Johna Norton sold 7,056 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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. In the last quarter, insiders have sold 1,214,704 shares of company stock valued at $1,066,841,316. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on LLY shares. Bank of America increased their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating and increased their target price for the stock from $725.00 to $1,025.00 in a report on Monday. Guggenheim increased their target price on Eli Lilly and Company from $855.00 to $884.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Wells Fargo & Company increased their target price on 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, BMO Capital Markets increased 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. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $948.29.

About Eli Lilly and Company

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.