LSV Asset Management Sells 13,600 Shares of Eli Lilly and Company (NYSE:LLY)

LSV Asset Management reduced its stake in Eli Lilly and Company (NYSE:LLY) by 29.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 32,100 shares of the company’s stock after selling 13,600 shares during the quarter. LSV Asset Management’s holdings in Eli Lilly and Company were worth $24,973,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in LLY. Versant Capital Management Inc lifted its position in Eli Lilly and Company by 1.8% during the first quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock valued at $573,000 after purchasing an additional 13 shares during the period. Moseley Investment Management Inc. lifted its position in Eli Lilly and Company by 0.4% during the first quarter. Moseley Investment Management Inc. now owns 3,890 shares of the company’s stock valued at $3,027,000 after purchasing an additional 14 shares during the period. CGN Advisors LLC lifted its position in Eli Lilly and Company by 1.4% during the first quarter. CGN Advisors LLC now owns 1,001 shares of the company’s stock valued at $779,000 after purchasing an additional 14 shares during the period. Twin Peaks Wealth Advisors LLC lifted its position in Eli Lilly and Company by 2.0% during the first quarter. Twin Peaks Wealth Advisors LLC now owns 718 shares of the company’s stock valued at $559,000 after purchasing an additional 14 shares during the period. Finally, Pitti Group Wealth Management LLC lifted its position in Eli Lilly and Company by 0.8% during the first quarter. Pitti Group Wealth Management LLC now owns 1,673 shares of the company’s stock valued at $1,271,000 after purchasing an additional 14 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,214,704 shares of company stock worth $1,066,841,316. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on LLY shares. Citigroup increased their price objective on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Truist Financial reiterated a “buy” rating and issued a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Bank of America reiterated a “buy” rating and issued a $1,000.00 price target on shares of Eli Lilly and Company in a research report on Monday, June 24th. Finally, Argus increased their price target on shares of 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. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and an average price target of $843.00.

Eli Lilly and Company Price Performance

LLY traded up $15.23 during trading on Friday, hitting $949.37. 2,313,150 shares of the company traded hands, compared to its average volume of 2,931,836. The company has a market cap of $902.29 billion, a PE ratio of 139.82, a P/E/G ratio of 2.05 and a beta of 0.41. The stock’s 50-day simple moving average is $845.17 and its two-hundred day simple moving average is $760.02. Eli Lilly and Company has a 1 year low of $434.34 and a 1 year high of $950.79. 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 posted its earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.05. The company had revenue of $8.77 billion during 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%. Eli Lilly and Company’s quarterly revenue was up 26.0% on a year-over-year basis. During the same period last year, the company posted $1.62 earnings per share. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a $1.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.55%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

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.