Lilly Endowment Inc Sells 8,848 Shares of Eli Lilly and Company (NYSE:LLY) Stock

Eli Lilly and Company (NYSE:LLY) major shareholder Lilly Endowment Inc sold 8,848 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $915.31, for a total transaction of $8,098,662.88. Following the completion of the transaction, the insider now directly owns 97,299,772 shares of the company’s stock, valued at approximately $89,059,454,309.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, July 1st, Lilly Endowment Inc sold 58,749 shares of Eli Lilly and Company stock. The shares were sold at an average price of $915.26, for a total value of $53,770,609.74.
• On Friday, June 28th, Lilly Endowment Inc sold 1,441 shares of Eli Lilly and Company stock. The stock was sold at an average price of $915.02, for a total value of $1,318,543.82.
• On Monday, June 24th, Lilly Endowment Inc sold 17,229 shares of Eli Lilly and Company stock. The shares were sold at an average price of $902.38, for a total value of $15,547,105.02.
• On Thursday, June 20th, Lilly Endowment Inc sold 9,671 shares of Eli Lilly and Company stock. The stock was sold at an average price of $902.67, for a total transaction of $8,729,721.57.
• On Monday, June 17th, Lilly Endowment Inc sold 194,978 shares of Eli Lilly and Company stock. The shares were 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 shares were sold at an average price of $852.29, for a total value 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 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.

Eli Lilly and Company Stock Performance

LLY stock traded down $8.61 during mid-day trading on Wednesday, hitting $898.10. 3,077,378 shares of the company were exchanged, compared to its average volume of 2,948,147. Eli Lilly and Company has a 1-year low of $434.34 and a 1-year high of $918.50. The stock has a market capitalization of $853.56 billion, a PE ratio of 133.55, a price-to-earnings-growth ratio of 1.97 and a beta of 0.41. The business has a 50 day simple moving average of $821.29 and a 200-day simple moving average of $745.62. 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 (NYSE:LLY) last released its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.05. The business had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The firm’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period last year, the firm posted $1.62 EPS. On average, equities analysts forecast that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.58%. Eli Lilly and Company’s payout ratio is presently 76.58%.

Analyst Ratings Changes

A number of research firms have recently issued reports on LLY. TheStreet upgraded shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. JPMorgan Chase & Co. lifted their price target on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday. Jefferies Financial Group lifted their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Finally, Argus increased their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $812.72.

Hedge Funds Weigh In On Eli Lilly and Company

Several institutional investors and hedge funds have recently modified their holdings of the business. EHP Funds Inc. acquired a new position in Eli Lilly and Company in the third quarter valued at about $269,000. Legacy Advisors LLC raised its position in shares of Eli Lilly and Company by 14.7% in the 3rd quarter. Legacy Advisors LLC now owns 2,045 shares of the company’s stock valued at $1,098,000 after buying an additional 262 shares in the last quarter. London Co. of Virginia lifted its holdings in shares of Eli Lilly and Company by 9.2% during the 3rd quarter. London Co. of Virginia now owns 25,654 shares of the company’s stock worth $13,780,000 after acquiring an additional 2,168 shares during the period. Jackson Wealth Management LLC boosted its position in shares of Eli Lilly and Company by 0.7% during the 3rd quarter. Jackson Wealth Management LLC now owns 6,399 shares of the company’s stock worth $3,437,000 after acquiring an additional 47 shares in the last quarter. Finally, Seldon Capital LP acquired a new stake in shares of Eli Lilly and Company during the 3rd quarter worth approximately $217,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

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.