Forum Financial Management LP Sells 59 Shares of Eli Lilly and Company (NYSE:LLY)

Forum Financial Management LP decreased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 0.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 8,655 shares of the company’s stock after selling 59 shares during the quarter. Forum Financial Management LP’s holdings in Eli Lilly and Company were worth $7,836,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Norges Bank bought a new stake in Eli Lilly and Company in the fourth quarter valued at about $5,992,890,000. Swedbank AB acquired a new position in shares of Eli Lilly and Company in the 1st quarter worth approximately $932,797,000. Sapient Capital LLC acquired a new stake in Eli Lilly and Company in the 4th quarter valued at $682,139,000. Vanguard Group Inc. boosted its stake in Eli Lilly and Company by 1.6% in the 1st 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. Finally, GQG Partners LLC grew its position in Eli Lilly and Company by 20.2% in the first quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after acquiring an additional 648,094 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Berenberg Bank upped their target price 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. Bank of America lifted their target price on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Argus raised their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Jefferies Financial Group boosted their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Finally, Guggenheim lifted their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $961.76.

Eli Lilly and Company Trading Up 2.1 %

NYSE LLY opened at $960.02 on Friday. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $972.53. The stock has a 50-day simple moving average of $891.13 and a 200 day simple moving average of $819.99. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $912.41 billion, a PE ratio of 141.39, a P/E/G ratio of 1.81 and a beta of 0.41.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 192,794 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $829.77, for a total value of $159,974,677.38. Following the sale, the insider now directly owns 98,208,810 shares in the company, valued at $81,490,724,273.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, major shareholder Lilly Endowment Inc sold 192,794 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $829.77, for a total transaction of $159,974,677.38. Following the sale, the insider now owns 98,208,810 shares of the company’s stock, valued at $81,490,724,273.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of 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 1,097,883 shares of company stock valued at $972,022,568 in the last 90 days. 0.13% of the stock is owned by insiders.

Eli Lilly and 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.