Gemmer Asset Management LLC Raises Stake in Eli Lilly and Company (NYSE:LLY)

Gemmer Asset Management LLC grew its position in shares of Eli Lilly and Company (NYSE:LLY) by 2.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,047 shares of the company’s stock after purchasing an additional 23 shares during the period. Gemmer Asset Management LLC’s holdings in Eli Lilly and Company were worth $948,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Lipe & Dalton bought a new stake in Eli Lilly and Company in the 4th quarter worth approximately $26,000. Tidemark LLC bought a new stake in shares of Eli Lilly and Company in the 4th quarter valued at about $29,000. Core Wealth Advisors Inc. increased its stake in Eli Lilly and Company by 188.2% in the 4th 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 period. Lynx Investment Advisory bought a new position in shares of Eli Lilly and Company in the second quarter worth approximately $32,000. Finally, Frank Rimerman Advisors LLC bought a new stake in Eli Lilly and Company during the 4th quarter valued at $37,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 2.7 %

LLY stock traded up $23.57 during trading on Tuesday, hitting $907.95. 3,504,357 shares of the stock traded hands, compared to its average volume of 3,099,640. The stock has a market cap of $862.92 billion, a price-to-earnings ratio of 133.10, 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 current ratio of 1.35 and a quick ratio of 1.03. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $966.10. The firm’s 50 day moving average is $872.13 and its two-hundred day moving average is $798.42.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be paid 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 0.57%. Eli Lilly and Company’s dividend payout ratio is 76.58%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on LLY shares. Morgan Stanley reaffirmed an “overweight” rating and set a $1,023.00 price objective on shares of Eli Lilly and Company in a research note on Friday, July 5th. Barclays boosted their target price on 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. Jefferies Financial Group boosted 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. 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 5th. Finally, Bank of America boosted their price target 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 report on Friday. Two 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $945.35.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value of $197,362,200.00. Following the transaction, the insider now owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the sale, the executive vice president now directly owns 25,428 shares of the company’s stock, valued at approximately $20,835,194.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,214,704 shares of company stock worth $1,066,841,316. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company 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.