Eli Lilly and Company (NYSE:LLY) Shares Sold by Cypress Asset Management Inc. TX

Cypress Asset Management Inc. TX reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,959 shares of the company’s stock after selling 330 shares during the quarter. Eli Lilly and Company accounts for 4.7% of Cypress Asset Management Inc. TX’s portfolio, making the stock its 4th largest position. Cypress Asset Management Inc. TX’s holdings in Eli Lilly and Company were worth $17,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. 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 valued at $56,592,709,000 after buying an additional 1,133,810 shares in the last quarter. Capital World Investors boosted its holdings in 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 acquiring an additional 89,720 shares during the last quarter. Norges Bank bought a new position in Eli Lilly and Company in the fourth quarter valued at about $5,992,890,000. Capital Research Global Investors boosted its holdings in Eli Lilly and Company by 6.0% in the first quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock valued at $6,248,210,000 after acquiring an additional 453,939 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Eli Lilly and Company by 61,268.8% in the fourth quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock valued at $42,802,530,000 after acquiring an additional 7,330,815 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Down 3.4 %

Eli Lilly and Company stock traded down $27.98 during midday trading on Friday, reaching $804.46. The stock had a trading volume of 3,515,933 shares, compared to its average volume of 3,316,491. The firm’s fifty day simple moving average is $870.80 and its 200-day simple moving average is $787.85. Eli Lilly and Company has a 1-year low of $446.89 and a 1-year high of $966.10. The stock has a market capitalization of $764.57 billion, a P/E ratio of 118.48, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. The business had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. Eli Lilly and Company’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.62 EPS. As a group, analysts expect that Eli Lilly and Company will post 13.79 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s 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 transaction, the insider now owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company 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 completion of the transaction, 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. Also, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the transaction, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The disclosure for this sale can be found here. Insiders have sold 1,214,704 shares of company stock valued at $1,066,841,316 in the last 90 days. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Berenberg Bank raised their price target on Eli Lilly and Company from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, July 11th. The Goldman Sachs Group raised their target price on Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. BMO Capital Markets restated an “outperform” rating and set a $1,001.00 target price on shares of Eli Lilly and Company in a report on Wednesday, July 3rd. Truist Financial restated a “buy” rating and set a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Finally, Jefferies Financial Group raised their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $858.72.

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.