Traynor Capital Management Inc. Boosts Position in Eli Lilly and Company (NYSE:LLY)

Traynor Capital Management Inc. raised its stake in shares of Eli Lilly and Company (NYSE:LLY) by 38.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,833 shares of the company’s stock after acquiring an additional 8,563 shares during the quarter. Eli Lilly and Company makes up 2.1% of Traynor Capital Management Inc.’s portfolio, making the stock its 8th biggest position. Traynor Capital Management Inc.’s holdings in Eli Lilly and Company were worth $23,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Lipe & Dalton bought a new position in shares of Eli Lilly and Company in the 4th quarter worth about $26,000. Tidemark LLC bought a new position in shares of Eli Lilly and Company in the 4th quarter worth about $29,000. Core Wealth Advisors Inc. lifted its position in shares of 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 buying an additional 32 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Eli Lilly and Company in the 4th quarter worth about $37,000. Finally, St. Johns Investment Management Company LLC lifted its position in shares of Eli Lilly and Company by 123.3% in the 4th quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock worth $39,000 after buying an additional 37 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the completion of the transaction, the insider now owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the completion of the transaction, the insider now owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 772,475 shares of company stock worth $656,838,859. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Up 0.8 %

Eli Lilly and Company stock opened at $890.62 on Tuesday. The stock has a market cap of $846.45 billion, a price-to-earnings ratio of 131.17, a PEG ratio of 1.93 and a beta of 0.36. 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 company’s 50-day moving average price is $801.37 and its two-hundred day moving average price is $732.02. Eli Lilly and Company has a 52 week low of $434.34 and a 52 week high of $905.45.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The company had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. During the same quarter last year, the firm posted $1.62 EPS. The business’s revenue for the quarter was up 26.0% on a year-over-year basis. On average, analysts expect that Eli Lilly and Company will post 13.73 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 16th were given a dividend of $1.30 per share. The ex-dividend date was Wednesday, May 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.58%. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of recent research reports. Argus raised their price target on shares of 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. Citigroup raised their price target on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. BMO Capital Markets raised their price target on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. increased their price objective on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, Bank of America reaffirmed a “buy” rating and issued a $1,000.00 price objective on shares of Eli Lilly and Company in a report on Monday. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $806.72.

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.