Eli Lilly and Company (NYSE:LLY) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System cut its holdings in Eli Lilly and Company (NYSE:LLY) by 4.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 769,575 shares of the company’s stock after selling 33,853 shares during the period. Eli Lilly and Company makes up 1.5% of New York State Teachers Retirement System’s investment portfolio, making the stock its 9th largest position. New York State Teachers Retirement System’s holdings in Eli Lilly and Company were worth $696,758,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. My Legacy Advisors LLC purchased a new position in shares of Eli Lilly and Company in the 2nd quarter valued at $227,000. Unique Wealth Strategies LLC purchased a new stake in Eli Lilly and Company during the 2nd quarter worth $45,000. Corundum Trust Company INC bought a new stake in shares of Eli Lilly and Company in the 2nd quarter worth about $1,211,000. Catalyst Private Wealth LLC bought a new stake in shares of Eli Lilly and Company in the 2nd quarter worth about $364,000. Finally, DT Investment Partners LLC increased its position in shares of Eli Lilly and Company by 2.4% in the 2nd quarter. DT Investment Partners LLC now owns 670 shares of the company’s stock worth $607,000 after purchasing an additional 16 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value of $197,362,200.00. Following the sale, the insider now directly owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the sale, the executive vice president now owns 25,428 shares in the company, valued at $20,835,194.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the sale, the insider now owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The disclosure for this sale can be found here. Insiders have sold 1,122,141 shares of company stock worth $991,938,411 in the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY traded down $6.98 during trading on Friday, reaching $947.19. The company had a trading volume of 971,710 shares, compared to its average volume of 3,089,680. The firm’s fifty day moving average is $884.83 and its 200 day moving average is $812.10. The firm has a market capitalization of $900.21 billion, a PE ratio of 139.88, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $972.53. 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 Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.55%. Eli Lilly and Company’s payout ratio is currently 76.58%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and boosted their target price for the stock from $725.00 to $1,025.00 in a research report on Monday, August 12th. Guggenheim boosted their target price on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Jefferies Financial Group lifted their price target on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a report on Monday, June 24th. JPMorgan Chase & Co. lifted their price target on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Finally, Wells Fargo & Company lifted their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $956.88.

Eli Lilly and 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.