Cambridge Investment Research Advisors Inc. Buys 2,446 Shares of Eli Lilly and Company (NYSE:LLY)

Cambridge Investment Research Advisors Inc. increased its stake in Eli Lilly and Company (NYSE:LLY) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 167,879 shares of the company’s stock after purchasing an additional 2,446 shares during the period. Eli Lilly and Company makes up approximately 0.6% of Cambridge Investment Research Advisors Inc.’s portfolio, making the stock its 18th biggest holding. Cambridge Investment Research Advisors Inc.’s holdings in Eli Lilly and Company were worth $151,994,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Lynx Investment Advisory bought a new position in Eli Lilly and Company during the second quarter valued at approximately $32,000. Core Wealth Advisors Inc. grew its holdings in shares of Eli Lilly and Company by 188.2% in 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 last quarter. Activest Wealth Management bought a new position in shares of Eli Lilly and Company in the first quarter worth approximately $39,000. Tidemark LLC bought a new position in shares of Eli Lilly and Company in the fourth quarter worth approximately $29,000. Finally, Unique Wealth Strategies LLC bought a new position in shares of Eli Lilly and Company in the second quarter worth approximately $45,000. 82.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 22,206 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $822.11, for a total transaction of $18,255,774.66. Following the sale, the insider now directly owns 98,401,604 shares of the company’s stock, valued at $80,896,942,664.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction that occurred on 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 $5,842,821.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 22,206 shares of Eli Lilly and Company 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 transaction, the insider now owns 98,401,604 shares in the company, valued at approximately $80,896,942,664.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,120,089 shares of company stock worth $990,278,343. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LLY. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, August 19th. Bank of America raised their target price 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. Berenberg Bank raised their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Wells Fargo & Company raised their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Finally, Barclays raised their price target on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $961.76.

Eli Lilly and Company Price Performance

Shares of LLY traded up $2.28 during mid-day trading on Tuesday, hitting $952.81. 2,199,402 shares of the stock were exchanged, compared to its average volume of 3,085,302. The firm has a 50-day moving average of $887.63 and a two-hundred day moving average of $816.72. The company has a market cap of $905.56 billion, a PE ratio of 141.82, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. 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 52-week low of $516.57 and a 52-week high of $972.53.

Eli Lilly and Company Announces Dividend

The business 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 dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

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.