Eli Lilly and Company (NYSE:LLY) Shares Sold by Portside Wealth Group LLC

Portside Wealth Group LLC trimmed its holdings in Eli Lilly and Company (NYSE:LLY) by 8.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,793 shares of the company’s stock after selling 271 shares during the quarter. Portside Wealth Group LLC’s holdings in Eli Lilly and Company were worth $2,529,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Everpar Advisors LLC purchased a new stake in shares of Eli Lilly and Company during the fourth quarter worth approximately $1,845,000. International Assets Investment Management LLC raised its stake in shares of Eli Lilly and Company by 5.3% during the fourth quarter. International Assets Investment Management LLC now owns 12,597 shares of the company’s stock worth $7,343,000 after purchasing an additional 632 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in shares of Eli Lilly and Company during the fourth quarter worth approximately $181,000. SVB Wealth LLC raised its stake in shares of Eli Lilly and Company by 2.3% during the fourth quarter. SVB Wealth LLC now owns 16,304 shares of the company’s stock worth $9,504,000 after purchasing an additional 362 shares during the last quarter. Finally, Octavia Wealth Advisors LLC raised its stake in shares of Eli Lilly and Company by 43.6% during the fourth quarter. Octavia Wealth Advisors LLC now owns 734 shares of the company’s stock worth $428,000 after purchasing an additional 223 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 92,563 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the sale, the insider now directly owns 98,556,247 shares in the company, valued at approximately $79,752,700,634.87. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction that occurred 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 sale, 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 SEC, which is available through the SEC website. Also, major shareholder Lilly Endowment Inc sold 92,563 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $809.21, for a total value of $74,902,905.23. Following the sale, the insider now owns 98,556,247 shares of the company’s stock, valued at approximately $79,752,700,634.87. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,214,704 shares of company stock worth $1,066,841,316. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Trading Down 1.0 %

Shares of Eli Lilly and Company stock traded down $9.46 during trading hours on Friday, reaching $922.12. The stock had a trading volume of 2,364,894 shares, compared to its average volume of 3,096,824. The firm has a market capitalization of $876.39 billion, a price-to-earnings ratio of 135.74, a P/E/G ratio of 1.81 and a beta of 0.41. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $966.10. The firm has a 50 day simple moving average of $878.93 and a two-hundred day simple moving average of $804.05.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.56%. Eli Lilly and Company’s payout ratio is currently 76.58%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on LLY shares. Argus increased their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. JPMorgan Chase & Co. upped their target price on Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Berenberg Bank upped their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company upped their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft raised Eli Lilly and Company from a “hold” rating to a “buy” rating and increased their price objective for the company from $725.00 to $1,025.00 in a research note on Monday, August 12th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $956.88.

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.