Eli Lilly and Company (NYSE:LLY) Shares Sold by BluePath Capital Management LLC

BluePath Capital Management LLC cut its stake in Eli Lilly and Company (NYSE:LLY) by 18.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 607 shares of the company’s stock after selling 141 shares during the period. BluePath Capital Management LLC’s holdings in Eli Lilly and Company were worth $472,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of LLY. Norges Bank purchased a new position in Eli Lilly and Company in the fourth quarter valued at about $5,992,890,000. International Assets Investment Management LLC grew its position in Eli Lilly and Company by 61,268.8% in the fourth quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock valued at $42,802,530,000 after acquiring an additional 7,330,815 shares in the last quarter. Sapient Capital LLC purchased a new stake in shares of Eli Lilly and Company during the fourth quarter valued at approximately $682,139,000. Vanguard Group Inc. lifted its position in shares of Eli Lilly and Company by 0.9% during the third quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock worth $37,908,273,000 after purchasing an additional 659,838 shares in the last quarter. Finally, Comerica Bank purchased a new position in shares of Eli Lilly and Company in the third quarter valued at $345,781,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

NYSE:LLY traded down $8.61 during mid-day trading on Wednesday, hitting $898.10. The stock had a trading volume of 3,076,361 shares, compared to its average volume of 2,948,155. 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 50 day simple moving average of $821.29 and a 200-day simple moving average of $745.62. The stock has a market capitalization of $853.56 billion, a price-to-earnings ratio of 132.27, a P/E/G ratio of 1.97 and a beta of 0.41. Eli Lilly and Company has a 52 week low of $434.34 and a 52 week high of $918.50.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. During the same quarter in the previous year, the company posted $1.62 earnings per share. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. On average, research 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.58%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s payout ratio is currently 76.58%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $1,001.00 price objective on shares of Eli Lilly and Company in a report on Wednesday. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday. JPMorgan Chase & Co. upped their target price on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Argus raised their price target on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Finally, Citigroup upped their price target on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Three research 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 target price of $812.72.

Insider Buying and Selling

In other news, major shareholder Lilly Endowment Inc sold 194,978 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $885.91, for a total value of $172,732,959.98. Following the completion of the transaction, the insider now directly owns 97,583,810 shares in the company, valued at $86,450,473,117.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 194,978 shares of Eli Lilly and Company stock in a transaction that occurred on 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 transaction, the insider now directly owns 97,583,810 shares in the company, valued at approximately $86,450,473,117.10. The disclosure for this sale can be found here. Insiders sold 858,742 shares of company stock valued at $735,573,781 over the last 90 days. 0.13% of the stock is currently owned by company insiders.

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.