Ascent Wealth Partners LLC Has $2.98 Million Stake in Eli Lilly and Company (NYSE:LLY)

Ascent Wealth Partners LLC lifted its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 106.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,291 shares of the company’s stock after purchasing an additional 1,699 shares during the period. Ascent Wealth Partners LLC’s holdings in Eli Lilly and Company were worth $2,980,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Independent Advisor Alliance raised its stake 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 worth $18,810,000 after buying an additional 544 shares during the period. Apexium Financial LP raised its holdings 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 worth $6,667,000 after acquiring an additional 10,842 shares during the period. Capital Planning LLC bought a new stake in Eli Lilly and Company in the 1st quarter valued at $262,000. CHURCHILL MANAGEMENT Corp bought a new position in Eli Lilly and Company during the 1st quarter worth about $6,916,000. Finally, M&G Plc acquired a new stake in shares of Eli Lilly and Company in the 1st quarter valued at about $8,896,000. 82.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LLY has been the subject of a number of analyst reports. Argus raised 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 report on Tuesday, May 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, August 19th. Barclays upped their target price on 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. Bank of America raised their price target on 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. Finally, Berenberg Bank upped their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $961.76.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company 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 completion of the transaction, the insider now owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Johna Norton sold 7,056 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the completion of the sale, the executive vice president now owns 25,428 shares of the company’s stock, valued at approximately $20,835,194.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company 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 completion of the sale, the insider now owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,097,883 shares of company stock valued at $972,022,568. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Stock Performance

LLY stock traded up $19.82 during trading hours on Friday, hitting $960.02. 2,555,073 shares of the stock were exchanged, compared to its average volume of 3,070,253. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $972.53. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The firm has a market capitalization of $912.41 billion, a P/E ratio of 141.39, a P/E/G ratio of 1.81 and a beta of 0.41. The company has a 50-day simple moving average of $892.64 and a two-hundred day simple moving average of $821.53.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.54%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

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.