Petredis Investment Advisors LLC Purchases 40 Shares of Eli Lilly and Company (NYSE:LLY)

Petredis Investment Advisors LLC boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 0.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,413 shares of the company’s stock after purchasing an additional 40 shares during the quarter. Eli Lilly and Company comprises 1.2% of Petredis Investment Advisors LLC’s portfolio, making the stock its 17th largest position. Petredis Investment Advisors LLC’s holdings in Eli Lilly and Company were worth $10,333,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in LLY. Hengehold Capital Management LLC grew its position in Eli Lilly and Company by 13.4% during the 2nd quarter. Hengehold Capital Management LLC now owns 524 shares of the company’s stock valued at $475,000 after purchasing an additional 62 shares during the last quarter. Baader Bank Aktiengesellschaft grew its holdings in shares of Eli Lilly and Company by 96.2% during the second quarter. Baader Bank Aktiengesellschaft now owns 7,988 shares of the company’s stock valued at $7,100,000 after buying an additional 3,917 shares during the last quarter. Cornerstone Wealth Management LLC increased its position in shares of Eli Lilly and Company by 18.5% during the second quarter. Cornerstone Wealth Management LLC now owns 1,887 shares of the company’s stock valued at $1,708,000 after acquiring an additional 294 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in Eli Lilly and Company by 7.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 36,052 shares of the company’s stock worth $32,641,000 after acquiring an additional 2,481 shares during the last quarter. Finally, Key Client Fiduciary Advisors LLC lifted its position in Eli Lilly and Company by 2.9% in the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 1,080 shares of the company’s stock valued at $978,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total value of $1,660,068.00. Following the completion of the transaction, the insider now owns 98,554,195 shares in the company, valued at $79,730,343,755. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total value of $1,660,068.00. Following the completion of the sale, the insider now directly owns 98,554,195 shares in the company, valued at $79,730,343,755. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Johna Norton sold 7,056 shares of Eli Lilly and Company stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the transaction, the executive vice president now directly owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The disclosure for this sale can be found here. Insiders sold 1,214,704 shares of company stock worth $1,066,841,316 over the last 90 days. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Price Performance

Shares of LLY stock traded up $1.20 during trading hours on Thursday, hitting $931.58. The stock had a trading volume of 3,047,801 shares, compared to its average volume of 3,102,805. Eli Lilly and Company has a one year low of $516.57 and a one year high of $966.10. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. The stock’s 50-day moving average price is $875.61 and its two-hundred day moving average price is $801.22. The stock has a market capitalization of $885.38 billion, a price-to-earnings ratio of 137.16, a PEG ratio of 1.81 and a beta of 0.41.

Eli Lilly and Company Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on LLY shares. Barclays upped their target price on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Truist Financial reaffirmed a “buy” rating and issued a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Argus boosted their target price on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Deutsche Bank Aktiengesellschaft upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating and raised their price target for the stock from $725.00 to $1,025.00 in a research note on Monday. Finally, JPMorgan Chase & Co. upped their price objective on Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $948.29.

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.