Lilly Endowment Inc Sells 8,848 Shares of Eli Lilly and Company (NYSE:LLY) Stock

Eli Lilly and Company (NYSE:LLY) major shareholder Lilly Endowment Inc sold 8,848 shares of Eli Lilly and Company stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $915.31, for a total value of $8,098,662.88. Following the sale, the insider now owns 97,299,772 shares of the company’s stock, valued at approximately $89,059,454,309.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, July 1st, Lilly Endowment Inc sold 58,749 shares of Eli Lilly and Company stock. The shares were sold at an average price of $915.26, for a total transaction of $53,770,609.74.
• On Friday, June 28th, Lilly Endowment Inc sold 1,441 shares of Eli Lilly and Company stock. The stock was sold at an average price of $915.02, for a total transaction of $1,318,543.82.
• On Monday, June 24th, Lilly Endowment Inc sold 17,229 shares of Eli Lilly and Company stock. The stock was sold at an average price of $902.38, for a total transaction of $15,547,105.02.
• On Thursday, June 20th, Lilly Endowment Inc sold 9,671 shares of Eli Lilly and Company stock. The shares were sold at an average price of $902.67, for a total value of $8,729,721.57.
• On Monday, June 17th, Lilly Endowment Inc sold 194,978 shares of Eli Lilly and Company stock. The stock was sold at an average price of $885.91, for a total value of $172,732,959.98.
• 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 transaction 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 transaction 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 shares were 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 shares were sold at an average price of $829.77, for a total value of $159,974,677.38.

Eli Lilly and Company Stock Down 0.9 %

Shares of LLY stock traded down $8.61 during mid-day trading on Wednesday, reaching $898.10. 3,077,378 shares of the company’s stock traded hands, compared to its average volume of 2,948,147. The company’s 50-day moving average price is $821.29 and its 200-day moving average price is $745.62. The company has a market cap of $853.56 billion, a P/E ratio of 133.55, a P/E/G ratio of 1.97 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 has a 12 month low of $434.34 and a 12 month high of $918.50.

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

Eli Lilly and Company Dividend Announcement

The business 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 $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.58%. Eli Lilly and Company’s payout ratio is currently 76.58%.

Analysts Set New Price Targets

Several research analysts recently commented on LLY shares. BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,001.00 target price on shares of Eli Lilly and Company in a research note on Wednesday. Jefferies Financial Group boosted their price objective on shares of 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. Truist Financial reiterated a “buy” rating and set a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. JPMorgan Chase & Co. raised their target price on Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Finally, Citigroup upped their price target on Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus target price of $812.72.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LLY. First Financial Bank Trust Division raised its position in shares of Eli Lilly and Company by 5.7% in the 2nd quarter. First Financial Bank Trust Division now owns 1,826 shares of the company’s stock worth $1,653,000 after purchasing an additional 98 shares during the last quarter. Hoese & Co LLP increased its stake in Eli Lilly and Company by 30.0% during the 2nd quarter. Hoese & Co LLP now owns 65 shares of the company’s stock valued at $59,000 after purchasing an additional 15 shares in the last quarter. Partnership Wealth Management LLC raised its holdings in Eli Lilly and Company by 6.7% in the second quarter. Partnership Wealth Management LLC now owns 23,150 shares of the company’s stock worth $20,960,000 after buying an additional 1,450 shares during the last quarter. Modus Advisors LLC lifted its stake in shares of Eli Lilly and Company by 5.2% in the second quarter. Modus Advisors LLC now owns 362 shares of the company’s stock worth $328,000 after buying an additional 18 shares in the last quarter. Finally, Global Wealth Strategies & Associates grew its holdings in shares of Eli Lilly and Company by 2.3% during the second quarter. Global Wealth Strategies & Associates now owns 627 shares of the company’s stock valued at $568,000 after buying an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

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.