tru Independence LLC Has $292,000 Stock Position in Eli Lilly and Company (NYSE:LLY)

tru Independence LLC increased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 24.3% in the second quarter, Holdings Channel reports. The firm owned 322 shares of the company’s stock after buying an additional 63 shares during the quarter. tru Independence LLC’s holdings in Eli Lilly and Company were worth $292,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of Eli Lilly and Company during the 4th quarter worth about $5,992,890,000. Swedbank AB bought a new position in Eli Lilly and Company during the 1st quarter worth approximately $932,797,000. Vanguard Group Inc. grew its holdings in Eli Lilly and Company by 1.6% during the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after purchasing an additional 1,133,810 shares during the period. GQG Partners LLC increased its stake in Eli Lilly and Company by 20.2% in the first quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after purchasing an additional 648,094 shares in the last quarter. Finally, Capital International Investors raised its holdings in Eli Lilly and Company by 8.1% in the fourth quarter. Capital International Investors now owns 6,636,833 shares of the company’s stock worth $3,868,559,000 after purchasing an additional 497,079 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 15,022 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $882.47, for a total value of $13,256,464.34. Following the sale, the insider now directly owns 97,778,788 shares of the company’s stock, valued at approximately $86,286,847,046.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 737,410 shares of company stock valued at $669,719,100 in the last quarter. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

LLY opened at $902.71 on Friday. The business’s 50-day simple moving average is $895.97 and its 200 day simple moving average is $827.99. Eli Lilly and Company has a 52-week low of $516.57 and a 52-week high of $972.53. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The firm has a market capitalization of $857.94 billion, a PE ratio of 132.95, a PEG ratio of 2.91 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The company had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. As a group, sell-side analysts expect that Eli Lilly and Company will post 16.51 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.58%. 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 Analyst Weigh In

A number of analysts recently commented on the stock. Barclays upped their price objective on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Argus raised their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Bank of America boosted their price objective on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research report on Friday, August 9th. BMO Capital Markets raised their target price on shares of 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. Finally, Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $961.76.

Eli Lilly and 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.