Coastal Investment Advisors Inc. Purchases 268 Shares of Eli Lilly and Company (NYSE:LLY)

Coastal Investment Advisors Inc. increased its position in shares of Eli Lilly and Company (NYSE:LLY) by 6.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,601 shares of the company’s stock after acquiring an additional 268 shares during the period. Coastal Investment Advisors Inc.’s holdings in Eli Lilly and Company were worth $2,158,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Avalon Trust Co grew its position in Eli Lilly and Company by 187.3% during the 2nd quarter. Avalon Trust Co now owns 928 shares of the company’s stock worth $435,000 after acquiring an additional 605 shares during the last quarter. Financial Gravity Asset Management Inc. grew its position in Eli Lilly and Company by 36.7% during the 2nd quarter. Financial Gravity Asset Management Inc. now owns 469 shares of the company’s stock worth $9,014,000 after acquiring an additional 126 shares during the last quarter. KLCM Advisors Inc. grew its position in shares of Eli Lilly and Company by 5.0% in the 2nd quarter. KLCM Advisors Inc. now owns 6,538 shares of the company’s stock valued at $3,066,000 after buying an additional 309 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of Eli Lilly and Company by 7.5% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 697,487 shares of the company’s stock valued at $327,107,000 after buying an additional 48,752 shares during the last quarter. Finally, Soltis Investment Advisors LLC grew its position in shares of Eli Lilly and Company by 7.9% in the 2nd quarter. Soltis Investment Advisors LLC now owns 1,063 shares of the company’s stock valued at $498,000 after buying an additional 78 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 37,660 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $546,751.75, for a total value of $20,590,670,905.00. Following the completion of the transaction, the insider now directly owns 100,275,279 shares of the company’s stock, valued at $54,825,684,274,988.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Lilly Endowment Inc sold 37,660 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $546,751.75, for a total value of $20,590,670,905.00. Following the completion of the transaction, the insider now directly owns 100,275,279 shares of the company’s stock, valued at $54,825,684,274,988.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Alonzo Weems sold 1,148 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $590.98, for a total value of $678,445.04. Following the completion of the transaction, the executive vice president now directly owns 7,760 shares of the company’s stock, valued at $4,586,004.80. The disclosure for this sale can be found here. Insiders sold a total of 700,916 shares of company stock valued at $20,970,455,882 over the last three months. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Jefferies Financial Group upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating and upped their price target for the company from $408.00 to $615.00 in a research report on Tuesday, August 8th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Eli Lilly and Company in a research report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $630.00 price target on shares of Eli Lilly and Company in a research report on Monday, October 23rd. UBS Group reiterated a “buy” rating and issued a $710.00 price target (up previously from $612.00) on shares of Eli Lilly and Company in a research report on Friday, October 20th. Finally, Credit Suisse Group upped their target price on Eli Lilly and Company from $490.00 to $580.00 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average target price of $557.00.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $597.71 on Friday. The company has a market cap of $567.41 billion, a PE ratio of 108.28, a price-to-earnings-growth ratio of 3.74 and a beta of 0.33. The company has a quick ratio of 0.82, a current ratio of 1.05 and a debt-to-equity ratio of 1.59. The business has a 50 day moving average price of $574.81 and a 200-day moving average price of $502.26. Eli Lilly and Company has a 52 week low of $309.20 and a 52 week high of $629.97.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 15th will be issued a $1.13 dividend. This represents a $4.52 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Tuesday, November 14th. Eli Lilly and Company’s dividend payout ratio is presently 81.88%.

Eli Lilly and Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. It 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; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.