Vest Financial LLC Decreases Stake in Eli Lilly and Company (NYSE:LLY)

Vest Financial LLC cut its holdings in Eli Lilly and Company (NYSE:LLY) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,111 shares of the company’s stock after selling 31 shares during the period. Vest Financial LLC’s holdings in Eli Lilly and Company were worth $1,006,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of 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 worth $56,592,709,000 after buying an additional 1,133,810 shares in the last quarter. Capital World Investors boosted its position in shares of Eli Lilly and Company by 0.3% in the 4th quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock worth $15,709,466,000 after buying an additional 89,720 shares in the last quarter. Norges Bank purchased a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $5,992,890,000. Capital Research Global Investors boosted its position in shares of Eli Lilly and Company by 6.0% in the 1st quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock worth $6,248,210,000 after buying an additional 453,939 shares in the last quarter. Finally, Capital International Investors boosted its position in shares of Eli Lilly and Company by 5.1% in the 1st quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock worth $5,424,243,000 after buying an additional 335,560 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on LLY. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday. Bank of America boosted 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. Berenberg Bank boosted their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Jefferies Financial Group boosted their target price on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. 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, the company has an average rating of “Moderate Buy” and an average target price of $961.76.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of the company’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 value of $197,362,200.00. Following the completion of the transaction, 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 SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 646,878 shares of company stock valued at $591,465,138. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Stock Up 1.5 %

LLY opened at $935.09 on Friday. The firm has a 50 day moving average price of $896.94 and a 200 day moving average price of $831.83. The company has a market cap of $888.74 billion, a PE ratio of 137.72, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $972.53. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The firm had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. Sell-side analysts expect that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Eli Lilly and Company 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.