Eli Lilly and Company (NYSE:LLY) Shares Sold by United Bank

United Bank trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,665 shares of the company’s stock after selling 23 shares during the quarter. Eli Lilly and Company comprises 1.7% of United Bank’s portfolio, making the stock its 17th largest position. United Bank’s holdings in Eli Lilly and Company were worth $3,318,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in LLY. Everpar Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $1,845,000. International Assets Investment Management LLC grew its holdings in Eli Lilly and Company by 5.3% in the 4th quarter. International Assets Investment Management LLC now owns 12,597 shares of the company’s stock worth $7,343,000 after buying an additional 632 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new position in Eli Lilly and Company in the 4th quarter worth approximately $181,000. AMJ Financial Wealth Management bought a new position in Eli Lilly and Company in the 4th quarter worth approximately $201,000. Finally, GUNN & Co INVESTMENT MANAGEMENT INC. grew its holdings in Eli Lilly and Company by 124.7% in the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 1,438 shares of the company’s stock worth $838,000 after buying an additional 798 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Morgan Stanley reissued an “overweight” rating and issued a $1,023.00 price objective on shares of Eli Lilly and Company in a report on Friday, July 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday. BMO Capital Markets increased their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised Eli Lilly and Company from a “hold” rating to a “buy” rating and increased their price target for the company from $725.00 to $1,025.00 in a research note on Monday, August 12th. Finally, Berenberg Bank increased their price target on 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. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $956.88.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Johna Norton sold 7,056 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.38, for a total value of $5,781,545.28. Following the sale, the executive vice president now directly owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of the firm’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 in the company, valued at $5,842,821.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,214,704 shares of company stock worth $1,066,841,316. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Up 0.7 %

Shares of NYSE:LLY traded up $6.65 during midday trading on Thursday, hitting $958.62. 1,678,515 shares of the stock were exchanged, compared to its average volume of 3,093,463. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. Eli Lilly and Company has a 52-week low of $516.57 and a 52-week high of $972.53. The business’s fifty day simple moving average is $883.39 and its two-hundred day simple moving average is $811.11. The company has a market capitalization of $911.08 billion, a PE ratio of 141.57, a P/E/G ratio of 1.81 and a beta of 0.41.

Eli Lilly and Company Dividend Announcement

The company 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 dividend of $1.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.54%. Eli Lilly and Company’s dividend payout ratio is 76.58%.

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.