Eli Lilly and Company (NYSE:LLY) Major Shareholder Sells $15,547,105.02 in Stock

Eli Lilly and Company (NYSE:LLY) major shareholder Lilly Endowment Inc sold 17,229 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $902.38, for a total value of $15,547,105.02. Following the sale, the insider now directly owns 97,556,910 shares of the company’s stock, valued at approximately $88,033,404,445.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, June 20th, Lilly Endowment Inc sold 9,671 shares of Eli Lilly and Company stock. The shares were sold at an average price of $902.67, for a total value of $8,729,721.57.
• 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 shares were 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 shares were sold at an average price of $836.32, for a total value of $17,046,710.56.
• On Monday, June 3rd, Lilly Endowment Inc sold 192,794 shares of Eli Lilly and Company stock. The stock was sold at an average price of $829.77, for a total value of $159,974,677.38.
• On Friday, May 31st, Lilly Endowment Inc sold 22,206 shares of Eli Lilly and Company stock. The stock was sold at an average price of $822.11, for a total value 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 value of $1,660,068.00.
• On Friday, May 24th, Lilly Endowment Inc sold 92,563 shares of Eli Lilly and Company stock. The stock was sold at an average price of $809.21, for a total transaction of $74,902,905.23.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $909.04 on Friday. Eli Lilly and Company has a 1 year low of $434.34 and a 1 year high of $909.57. 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 company has a market capitalization of $863.96 billion, a PE ratio of 133.33, a price-to-earnings-growth ratio of 1.97 and a beta of 0.36. The company’s fifty day moving average price is $807.55 and its 200 day moving average price is $735.35.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. The firm 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 firm’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.62 EPS. On average, research analysts predict that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Institutional Investors Weigh In On Eli Lilly and Company

Hedge funds have recently modified their holdings of the business. Lazari Capital Management Inc. purchased a new stake in Eli Lilly and Company in the 1st quarter valued at $233,000. Abich Financial Wealth Management LLC raised its position in Eli Lilly and Company by 22.7% in the first quarter. Abich Financial Wealth Management LLC now owns 184 shares of the company’s stock valued at $143,000 after purchasing an additional 34 shares during the period. TruNorth Capital Management LLC acquired a new position in Eli Lilly and Company during the 1st quarter worth about $265,000. NBW Capital LLC lifted its position in shares of Eli Lilly and Company by 13.3% during the first quarter. NBW Capital LLC now owns 876 shares of the company’s stock worth $681,000 after purchasing an additional 103 shares in the last quarter. Finally, Keynote Financial Services LLC purchased a new position in Eli Lilly and Company in the 1st quarter valued at approximately $1,564,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Truist Financial reaffirmed a “buy” rating and issued a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday. The Goldman Sachs Group raised their target price on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Bank of America reiterated a “buy” rating and set a $1,000.00 price objective on shares of Eli Lilly and Company in a research note on Monday. Finally, Jefferies Financial Group increased their price target on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $812.72.

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.