Eli Lilly and Company (NYSE:LLY) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lessened its position in Eli Lilly and Company (NYSE:LLY) by 1.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 72,680 shares of the company’s stock after selling 1,049 shares during the quarter. Eli Lilly and Company makes up about 1.5% of Elo Mutual Pension Insurance Co’s holdings, making the stock its 9th biggest holding. Elo Mutual Pension Insurance Co’s holdings in Eli Lilly and Company were worth $65,803,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of LLY. Vanguard Group Inc. increased its stake in shares of Eli Lilly and Company by 1.6% in the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after acquiring an additional 1,133,810 shares during the last quarter. Capital World Investors increased its position in Eli Lilly and Company by 0.3% in the 4th quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock worth $15,709,466,000 after purchasing an additional 89,720 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Eli Lilly and Company by 6.0% during the 1st quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock worth $6,248,210,000 after purchasing an additional 453,939 shares in the last quarter. Capital International Investors lifted its holdings in shares of Eli Lilly and Company by 5.1% during the 1st quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock valued at $5,424,243,000 after buying an additional 335,560 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Eli Lilly and Company by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 4,542,089 shares of the company’s stock valued at $2,647,675,000 after buying an additional 85,015 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 451,900 shares of company stock worth $418,732,178. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $906.17 on Wednesday. The stock’s fifty day moving average is $896.70 and its 200-day moving average is $835.96. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $972.53. The stock has a market capitalization of $861.23 billion, a PE ratio of 133.46, a PEG ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. Equities research analysts expect that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were 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 was Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Wall Street Analyst Weigh In

Several analysts have commented on LLY shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday. Bank of America raised their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a report on Friday, August 9th. Evercore ISI upgraded Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. JPMorgan Chase & Co. raised their price objective on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Finally, Berenberg Bank upped their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. 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 MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $977.35.

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.