Ferguson Wellman Capital Management Inc. Trims Stake in Eli Lilly and Company (NYSE:LLY)

Ferguson Wellman Capital Management Inc. decreased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,402 shares of the company’s stock after selling 257 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Eli Lilly and Company were worth $19,377,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in 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 valued at $56,592,709,000 after acquiring an additional 1,133,810 shares during the last quarter. Capital World Investors grew its position 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. Norges Bank acquired a new position in Eli Lilly and Company in the fourth quarter valued at $5,992,890,000. Capital Research Global Investors lifted its position in Eli Lilly and Company by 6.0% during the first quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock worth $6,248,210,000 after buying an additional 453,939 shares during the period. Finally, Capital International Investors lifted its position in Eli Lilly and Company by 5.1% during the first quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock worth $5,424,243,000 after buying an additional 335,560 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Truist Financial restated a “buy” rating and issued a $1,000.00 price target (up previously from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Morgan Stanley reaffirmed an “overweight” rating and set a $1,023.00 price target on shares of Eli Lilly and Company in a research report on Friday, July 5th. BMO Capital Markets increased their price target on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Argus boosted their price objective on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Finally, Barclays upped their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and an average target price of $948.29.

Eli Lilly and Company Stock Performance

Shares of LLY stock traded up $21.17 on Wednesday, hitting $929.22. 2,395,030 shares of the stock traded hands, compared to its average volume of 3,095,494. The company’s fifty day moving average is $873.64 and its 200 day moving average is $800.31. Eli Lilly and Company has a 1-year low of $516.57 and a 1-year high of $966.10. The company has a market capitalization of $883.14 billion, a PE ratio of 136.49, a PEG ratio of 1.81 and a beta of 0.41. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Insider Buying and Selling

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the sale, the insider now directly owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction 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 owns 7,130 shares in the company, valued at approximately $5,842,821.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the sale, the insider now owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,214,704 shares of company stock worth $1,066,841,316 over the last quarter. 0.13% of the stock is owned by company insiders.

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.