Columbia Asset Management Acquires 473 Shares of Eli Lilly and Company (NYSE:LLY)

Columbia Asset Management boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 5.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,538 shares of the company’s stock after purchasing an additional 473 shares during the quarter. Eli Lilly and Company comprises 1.6% of Columbia Asset Management’s portfolio, making the stock its 12th largest position. Columbia Asset Management’s holdings in Eli Lilly and Company were worth $8,636,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Independent Advisor Alliance grew its position in Eli Lilly and Company by 1.7% during the 4th quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock valued at $18,810,000 after purchasing an additional 544 shares during the last quarter. Apexium Financial LP increased its position in shares of Eli Lilly and Company by 1,819.1% during the fourth quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock valued at $6,667,000 after acquiring an additional 10,842 shares in the last quarter. Capital Planning LLC purchased a new position in Eli Lilly and Company in the 1st quarter worth approximately $262,000. CHURCHILL MANAGEMENT Corp bought a new position in Eli Lilly and Company in the 1st quarter valued at approximately $6,916,000. Finally, M&G Plc purchased a new stake in Eli Lilly and Company during the 1st quarter valued at $8,896,000. Institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling at Eli Lilly and Company

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 transaction of $13,256,464.34. Following the sale, the insider now directly owns 97,778,788 shares in the company, valued at approximately $86,286,847,046.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 737,410 shares of company stock worth $669,719,100 over the last 90 days. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Trading Down 3.5 %

Shares of Eli Lilly and Company stock opened at $912.75 on Friday. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two 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 company has a market capitalization of $867.48 billion, a P/E ratio of 134.43, a P/E/G ratio of 2.91 and a beta of 0.41. The company has a fifty day moving average of $896.03 and a 200 day moving average of $826.65.

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

Eli Lilly and Company Dividend Announcement

The firm also recently declared 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 yield of 0.57%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. BMO Capital Markets boosted their price target 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. Bank of America upped their target price on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Barclays lifted their price target on shares of 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. Jefferies Financial Group increased their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Finally, Wells Fargo & Company lifted their target price on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $961.76.

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.