Eli Lilly and Company (NYSE:LLY) Position Lowered by American International Group Inc.

American International Group Inc. decreased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 235,078 shares of the company’s stock after selling 5,020 shares during the period. Eli Lilly and Company comprises about 0.6% of American International Group Inc.’s investment portfolio, making the stock its 13th biggest holding. American International Group Inc.’s holdings in Eli Lilly and Company were worth $137,032,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Eli Lilly and Company by 0.9% during the third quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock worth $37,908,273,000 after acquiring an additional 659,838 shares during the period. Capital World Investors increased its stake in shares of Eli Lilly and Company by 0.3% in the fourth quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock valued at $15,709,466,000 after purchasing an additional 89,720 shares during the period. Morgan Stanley increased its stake in shares of Eli Lilly and Company by 0.7% in the third quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock valued at $6,738,605,000 after purchasing an additional 83,915 shares during the period. Norges Bank acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at approximately $5,992,890,000. Finally, Northern Trust Corp increased its stake in shares of Eli Lilly and Company by 3.6% in the third quarter. Northern Trust Corp now owns 10,158,275 shares of the company’s stock valued at $5,456,314,000 after purchasing an additional 355,317 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Jefferies Financial Group raised their price target on shares of Eli Lilly and Company from $925.00 to $957.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Bank of America raised their price target on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, March 1st. DZ Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price objective on the stock. in a research note on Wednesday, February 21st. JPMorgan Chase & Co. raised their price objective on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Finally, Morgan Stanley raised their price objective on shares of Eli Lilly and Company from $805.00 to $950.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $787.53.

Eli Lilly and Company Trading Down 0.6 %

NYSE LLY traded down $4.88 on Friday, hitting $878.45. 2,023,264 shares of the stock were exchanged, compared to its average volume of 2,475,545. Eli Lilly and Company has a 52-week low of $434.34 and a 52-week high of $885.06. 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 company has a market capitalization of $834.89 billion, a price-to-earnings ratio of 129.37, a P/E/G ratio of 1.93 and a beta of 0.36. The company’s 50-day moving average price is $785.96 and its two-hundred day moving average price is $717.55.

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, topping 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 firm had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. During the same period in the previous year, the company posted $1.62 EPS. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. Research analysts predict that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 16th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Wednesday, May 15th. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 75,510 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $860.78, for a total transaction of $64,997,497.80. Following the transaction, the insider now directly owns 97,793,810 shares in the company, valued at approximately $84,178,955,771.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, major shareholder Lilly Endowment Inc sold 75,510 shares of Eli Lilly and Company stock in a transaction on Monday, June 10th. The shares were sold at an average price of $860.78, for a total value of $64,997,497.80. Following the completion of the sale, the insider now owns 97,793,810 shares of the company’s stock, valued at approximately $84,178,955,771.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the sale, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. Insiders have sold a total of 552,804 shares of company stock worth $462,119,714 in the last ninety days. Corporate insiders own 0.13% of the company’s stock.

About Eli Lilly and Company

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.