Eli Lilly and Company (NYSE:LLY) Shares Bought by Brookstone Capital Management

Brookstone Capital Management lifted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 9.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 30,940 shares of the company’s stock after acquiring an additional 2,558 shares during the period. Brookstone Capital Management’s holdings in Eli Lilly and Company were worth $28,019,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lynx Investment Advisory purchased a new position in shares of Eli Lilly and Company in the 2nd quarter valued at $32,000. Core Wealth Advisors Inc. increased its holdings in Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after purchasing an additional 32 shares in the last quarter. Activest Wealth Management acquired a new stake in Eli Lilly and Company in the 1st quarter valued at $39,000. Tidemark LLC purchased a new stake in shares of Eli Lilly and Company in the fourth quarter worth about $29,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Eli Lilly and Company during the 1st quarter valued at about $40,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of recent research reports. Guggenheim boosted their target price on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and upped their price target for the company from $725.00 to $1,025.00 in a report on Monday, August 12th. Truist Financial reissued a “buy” rating and issued a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. 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, BMO Capital Markets raised their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $956.88.

Eli Lilly and Company Stock Performance

Shares of LLY traded down $9.46 during mid-day trading on Friday, reaching $922.12. 2,364,894 shares of the company’s stock traded hands, compared to its average volume of 3,096,824. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The business’s 50-day moving average price is $878.93 and its 200-day moving average price is $804.05. The stock has a market capitalization of $876.39 billion, a P/E ratio of 135.74, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $966.10.

Eli Lilly and Company Dividend Announcement

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

Insiders Place Their Bets

In related news, major shareholder Lilly Endowment Inc sold 92,563 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $809.21, for a total value of $74,902,905.23. Following the completion of the sale, the insider now owns 98,556,247 shares of the company’s stock, valued at $79,752,700,634.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the sale, the executive vice president now directly owns 25,428 shares in the company, valued at approximately $20,835,194.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Lilly Endowment Inc sold 92,563 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the completion of the transaction, the insider now owns 98,556,247 shares in the company, valued at approximately $79,752,700,634.87. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,214,704 shares of company stock worth $1,066,841,316. 0.13% of the stock is owned by company insiders.

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.