Insider Selling: Eli Lilly and Company (NYSE:LLY) Major Shareholder Sells $8,729,721.57 in Stock

Eli Lilly and Company (NYSE:LLY) major shareholder Lilly Endowment Inc sold 9,671 shares of Eli Lilly and Company stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $902.67, for a total transaction of $8,729,721.57. Following the transaction, the insider now directly owns 97,574,139 shares in the company, valued at $88,077,248,051.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Lilly Endowment Inc also recently made the following trade(s):

• On Monday, June 24th, Lilly Endowment Inc sold 17,229 shares of Eli Lilly and Company stock. The stock was sold at an average price of $902.38, for a total transaction of $15,547,105.02.
• On Monday, June 17th, Lilly Endowment Inc sold 194,978 shares of Eli Lilly and Company stock. The stock was sold at an average price of $885.91, for a total transaction of $172,732,959.98.
• On Friday, June 14th, Lilly Endowment Inc sold 15,022 shares of Eli Lilly and Company stock. The stock was sold at an average price of $882.47, for a total transaction of $13,256,464.34.
• On Monday, June 10th, Lilly Endowment Inc sold 75,510 shares of Eli Lilly and Company stock. The stock was sold at an average price of $860.78, for a total transaction of $64,997,497.80.
• On Friday, June 7th, Lilly Endowment Inc sold 139,490 shares of Eli Lilly and Company stock. The stock was sold at an average price of $852.29, for a total transaction of $118,885,932.10.
• On Wednesday, June 5th, Lilly Endowment Inc sold 20,383 shares of Eli Lilly and Company stock. The stock was sold at an average price of $836.32, for a total transaction of $17,046,710.56.
• On Monday, June 3rd, Lilly Endowment Inc sold 192,794 shares of Eli Lilly and Company stock. The shares were sold at an average price of $829.77, for a total transaction of $159,974,677.38.
• On Friday, May 31st, Lilly Endowment Inc sold 22,206 shares of Eli Lilly and Company stock. The shares were sold at an average price of $822.11, for a total transaction of $18,255,774.66.
• On Tuesday, May 28th, Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock. The shares were sold at an average price of $809.00, for a total transaction of $1,660,068.00.
• On Friday, May 24th, Lilly Endowment Inc sold 92,563 shares of Eli Lilly and Company stock. The shares were sold at an average price of $809.21, for a total transaction of $74,902,905.23.

Eli Lilly and Company Price Performance

LLY opened at $901.26 on Thursday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The stock has a market capitalization of $856.57 billion, a P/E ratio of 132.73, a P/E/G ratio of 1.97 and a beta of 0.36. The company’s 50-day simple moving average is $804.54 and its two-hundred day simple moving average is $734.18. Eli Lilly and Company has a 52-week low of $434.34 and a 52-week high of $909.42.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.05. The business had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.62 EPS. As a group, analysts predict that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business 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. This represents a $5.20 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Hedge Funds Weigh In On Eli Lilly and Company

Several hedge funds and other institutional investors have recently bought and sold shares of LLY. Norges Bank bought a new position in shares of Eli Lilly and Company in the 4th quarter worth approximately $5,992,890,000. International Assets Investment Management LLC lifted its stake in shares of Eli Lilly and Company by 61,268.8% in the 4th quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock worth $42,802,530,000 after purchasing an additional 7,330,815 shares during the period. Swedbank AB bought a new position in shares of Eli Lilly and Company in the 1st quarter worth approximately $932,797,000. Sapient Capital LLC bought a new position in shares of Eli Lilly and Company in the 4th quarter worth approximately $682,139,000. Finally, Vanguard Group Inc. lifted its stake in shares of Eli Lilly and Company by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after purchasing an additional 1,133,810 shares during the period. Institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on LLY shares. TheStreet raised shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. JPMorgan Chase & Co. boosted 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 report on Wednesday, May 1st. Truist Financial reaffirmed a “buy” rating and issued a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday. 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. Finally, The Goldman Sachs Group upped their target price on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $812.72.

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.