First Hawaiian Bank Sells 714 Shares of Eli Lilly and Company (NYSE:LLY)

First Hawaiian Bank decreased its holdings in Eli Lilly and Company (NYSE:LLY) by 6.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,807 shares of the company’s stock after selling 714 shares during the period. First Hawaiian Bank’s holdings in Eli Lilly and Company were worth $8,879,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of LLY. Independent Advisor Alliance grew its holdings in shares of Eli Lilly and Company by 1.7% in the fourth quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock worth $18,810,000 after acquiring an additional 544 shares during the period. Apexium Financial LP grew its holdings in shares of Eli Lilly and Company by 1,819.1% in the fourth quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock worth $6,667,000 after acquiring an additional 10,842 shares during the period. Terril Brothers Inc. grew its holdings in shares of Eli Lilly and Company by 113.2% in the fourth quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock worth $471,000 after acquiring an additional 429 shares during the period. Capital Planning LLC purchased a new position in Eli Lilly and Company during the first quarter valued at $262,000. Finally, Hartline Investment Corp lifted its position in Eli Lilly and Company by 1.1% during the fourth quarter. Hartline Investment Corp now owns 21,934 shares of the company’s stock valued at $12,786,000 after purchasing an additional 248 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 92,563 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 98,556,247 shares of the company’s stock, valued at $79,752,700,634.87. The sale was disclosed in a filing with the SEC, which is available through this link. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the company’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 sale, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Lilly Endowment Inc sold 92,563 shares of the company’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 in the company, valued at $79,752,700,634.87. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,214,704 shares of company stock valued at $1,066,841,316. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock traded down $27.98 during midday trading on Friday, reaching $804.46. 3,515,933 shares of the stock traded hands, compared to its average volume of 3,316,491. The stock’s fifty day moving average is $870.80 and its 200-day moving average is $790.05. Eli Lilly and Company has a 12 month low of $446.89 and a 12 month high of $966.10. The stock has a market cap of $764.57 billion, a P/E ratio of 118.48, a PEG ratio of 1.81 and a beta of 0.41. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s payout ratio is presently 76.58%.

Analysts Set New Price Targets

Several research firms recently weighed in on LLY. 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. JPMorgan Chase & Co. lifted their target price on Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. BMO Capital Markets reiterated an “outperform” rating and set a $1,001.00 target price on shares of Eli Lilly and Company in a research report on Wednesday, July 3rd. Argus lifted their target price 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. Finally, Bank of America reiterated a “buy” rating and set a $1,000.00 target price on shares of Eli Lilly and Company in a research report on Monday, June 24th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.