Bahl & Gaynor Inc. Sells 12,442 Shares of Eli Lilly and Company (NYSE:LLY)

Bahl & Gaynor Inc. lessened its stake in Eli Lilly and Company (NYSE:LLY) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 865,357 shares of the company’s stock after selling 12,442 shares during the period. Eli Lilly and Company accounts for approximately 4.4% of Bahl & Gaynor Inc.’s portfolio, making the stock its 2nd largest position. Bahl & Gaynor Inc. owned approximately 0.09% of Eli Lilly and Company worth $783,477,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Tidemark LLC acquired a new stake in Eli Lilly and Company during the 4th quarter worth $29,000. Core Wealth Advisors Inc. boosted its stake in shares of Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after buying an additional 32 shares during the period. Lynx Investment Advisory acquired a new position in Eli Lilly and Company in the 2nd quarter valued at about $32,000. LGT Financial Advisors LLC acquired a new stake in Eli Lilly and Company during the 2nd quarter worth approximately $36,000. Finally, Frank Rimerman Advisors LLC purchased a new position in shares of Eli Lilly and Company in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 0.8 %

LLY opened at $901.28 on Wednesday. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $972.53. The business has a 50-day moving average of $895.74 and a two-hundred day moving average of $830.47. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The stock has a market capitalization of $856.60 billion, a price-to-earnings ratio of 132.74, a price-to-earnings-growth ratio of 2.73 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. On average, research analysts expect that Eli Lilly and Company will post 16.51 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.58%. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 194,978 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $885.91, for a total transaction of $172,732,959.98. Following the completion of the sale, the insider now owns 97,583,810 shares in the company, valued at approximately $86,450,473,117.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 661,900 shares of company stock worth $604,721,602 in the last three months. 0.13% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on LLY. Jefferies Financial Group upped their price target 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a report on Monday. Wells Fargo & Company increased their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Guggenheim raised 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. Finally, Berenberg Bank increased their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $961.76.

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.