Mitchell Mcleod Pugh & Williams Inc. Sells 169 Shares of Eli Lilly and Company (NYSE:LLY)

Mitchell Mcleod Pugh & Williams Inc. cut its position in Eli Lilly and Company (NYSE:LLY) by 2.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,589 shares of the company’s stock after selling 169 shares during the quarter. Eli Lilly and Company comprises about 1.4% of Mitchell Mcleod Pugh & Williams Inc.’s portfolio, making the stock its 12th biggest holding. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Eli Lilly and Company were worth $5,966,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LLY. Independent Advisor Alliance increased its holdings in shares of Eli Lilly and Company by 1.7% during the fourth quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock worth $18,810,000 after purchasing an additional 544 shares during the period. Apexium Financial LP increased its stake in Eli Lilly and Company by 1,819.1% during the 4th quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock worth $6,667,000 after acquiring an additional 10,842 shares during the period. Capital Planning LLC acquired a new position in Eli Lilly and Company in the 1st quarter valued at $262,000. CHURCHILL MANAGEMENT Corp bought a new stake in shares of Eli Lilly and Company during the 1st quarter valued at $6,916,000. Finally, M&G Plc bought a new stake in shares of Eli Lilly and Company during the 1st quarter valued at $8,896,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Johna Norton sold 7,056 shares of the 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 completion of the sale, the executive vice president now owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Johna Norton sold 7,056 shares of the 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 completion of the sale, the executive vice president now owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The disclosure for this sale can be found here. Insiders sold a total of 1,097,883 shares of company stock valued at $972,022,568 in the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on LLY. Bank of America boosted their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Truist Financial restated a “buy” rating and issued a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Argus boosted their price objective on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Barclays raised their target price on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Guggenheim boosted their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $961.76.

Eli Lilly and Company Price Performance

LLY traded up $19.82 on Friday, reaching $960.02. The stock had a trading volume of 2,555,073 shares, compared to its average volume of 3,625,430. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week high of $972.53. The firm has a 50-day moving average of $892.64 and a 200-day moving average of $822.08. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $912.43 billion, a price-to-earnings ratio of 141.39, a price-to-earnings-growth ratio of 2.91 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The business had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 16.51 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be issued a $1.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.54%. Eli Lilly and Company’s payout ratio is presently 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.