Insider Selling: Eli Lilly and Company (NYSE:LLY) Major Shareholder Sells $172,732,959.98 in Stock

Eli Lilly and Company (NYSE:LLY) major shareholder Lilly Endowment Inc sold 194,978 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $885.91, for a total value of $172,732,959.98. Following the transaction, the insider now owns 97,583,810 shares of the company’s stock, valued at $86,450,473,117.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Lilly Endowment Inc also recently made the following trade(s):

• On Friday, June 14th, Lilly Endowment Inc sold 15,022 shares of Eli Lilly and Company stock. The stock was sold at an average price of $882.47, for a total value of $13,256,464.34.
• On Monday, June 10th, Lilly Endowment Inc sold 75,510 shares of Eli Lilly and Company stock. The stock was sold at an average price of $860.78, for a total value of $64,997,497.80.
• On Friday, June 7th, Lilly Endowment Inc sold 139,490 shares of Eli Lilly and Company stock. The stock was sold at an average price of $852.29, for a total value of $118,885,932.10.
• On Wednesday, June 5th, Lilly Endowment Inc sold 20,383 shares of Eli Lilly and Company stock. The stock was sold at an average price of $836.32, for a total value of $17,046,710.56.
• On Monday, June 3rd, Lilly Endowment Inc sold 192,794 shares of Eli Lilly and Company stock. The stock was sold at an average price of $829.77, for a total value of $159,974,677.38.
• On Friday, May 31st, Lilly Endowment Inc sold 22,206 shares of Eli Lilly and Company stock. The shares were sold at an average price of $822.11, for a total value of $18,255,774.66.
• On Tuesday, May 28th, Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00.
• On Friday, May 24th, Lilly Endowment Inc sold 92,563 shares of Eli Lilly and Company stock. The shares were sold at an average price of $809.21, for a total value of $74,902,905.23.

Eli Lilly and Company Trading Down 0.6 %

Eli Lilly and Company stock opened at $886.33 on Friday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. The company has a market capitalization of $842.37 billion, a price-to-earnings ratio of 130.53, a PEG ratio of 1.94 and a beta of 0.36. Eli Lilly and Company has a one year low of $434.34 and a one year high of $905.45. The company’s fifty day moving average price is $795.93 and its two-hundred day moving average price is $725.85.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Monday, May 6th. The company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.53 by $0.05. The firm had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The business’s quarterly revenue was up 26.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.62 earnings per share. On average, analysts forecast that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Thursday, May 16th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Wednesday, May 15th. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Analysts Set New Price Targets

LLY has been the topic of several research reports. Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. JPMorgan Chase & Co. boosted their target price on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. TheStreet raised shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Argus boosted their target price on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Finally, Bank of America boosted their target price on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $803.50.

Institutional Investors Weigh In On Eli Lilly and Company

Several hedge funds and other institutional investors have recently made changes to their positions in the business. TruNorth Capital Management LLC acquired a new stake in shares of Eli Lilly and Company in the first quarter valued at about $265,000. NBW Capital LLC grew its position in shares of Eli Lilly and Company by 13.3% in the first quarter. NBW Capital LLC now owns 876 shares of the company’s stock valued at $681,000 after purchasing an additional 103 shares during the last quarter. Keynote Financial Services LLC acquired a new stake in shares of Eli Lilly and Company in the first quarter valued at about $1,564,000. IMS Capital Management acquired a new stake in shares of Eli Lilly and Company in the first quarter valued at about $217,000. Finally, Jackson Wealth Management LLC grew its position in shares of Eli Lilly and Company by 2.6% in the first quarter. Jackson Wealth Management LLC now owns 6,495 shares of the company’s stock valued at $5,053,000 after purchasing an additional 164 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

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.