Proffitt & Goodson Inc. Takes $53,000 Position in Eli Lilly and Company (NYSE:LLY)

Proffitt & Goodson Inc. purchased a new position in shares of Eli Lilly and Company (NYSE:LLY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 59 shares of the company’s stock, valued at approximately $53,000.

A number of other hedge funds have also bought and sold shares of LLY. Lynx Investment Advisory bought a new stake in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $32,000. Core Wealth Advisors Inc. raised its holdings in shares of 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 purchasing an additional 32 shares during the period. Activest Wealth Management acquired a new stake in shares of Eli Lilly and Company during the first quarter worth $39,000. Tidemark LLC bought a new position in shares of Eli Lilly and Company in the 4th quarter worth about $29,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Eli Lilly and Company in the 1st quarter valued at about $40,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Eli Lilly and Company Price Performance

Eli Lilly and Company stock traded up $2.22 during mid-day trading on Thursday, hitting $954.19. The company’s stock had a trading volume of 3,181,057 shares, compared to its average volume of 3,102,731. The stock has a market capitalization of $906.87 billion, a P/E ratio of 141.57, 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. The stock’s fifty day moving average price is $883.39 and its two-hundred day moving average price is $811.11. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $972.53.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed 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. This represents a $5.20 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of recent research reports. Barclays raised their target price on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Truist Financial reissued a “buy” rating and issued a $1,000.00 price target (up previously from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday. Jefferies Financial Group boosted their price target on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a report on Monday, June 24th. Finally, Bank of America increased their price objective on shares of 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. Two 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 company presently has a consensus 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.