New York Life Investment Management LLC Sells 11,512 Shares of Eli Lilly and Company (NYSE:LLY)

New York Life Investment Management LLC decreased its position in Eli Lilly and Company (NYSE:LLY) by 9.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,504 shares of the company’s stock after selling 11,512 shares during the quarter. Eli Lilly and Company accounts for 1.0% of New York Life Investment Management LLC’s portfolio, making the stock its 18th largest position. New York Life Investment Management LLC’s holdings in Eli Lilly and Company were worth $100,048,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Northwest Wealth Management LLC boosted its position in Eli Lilly and Company by 1.5% during the second quarter. Northwest Wealth Management LLC now owns 1,088 shares of the company’s stock valued at $985,000 after buying an additional 16 shares during the period. Addison Advisors LLC grew its position in Eli Lilly and Company by 5.2% during the 2nd quarter. Addison Advisors LLC now owns 936 shares of the company’s stock worth $847,000 after acquiring an additional 46 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Eli Lilly and Company by 1.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 6,370 shares of the company’s stock worth $5,767,000 after purchasing an additional 75 shares during the period. Arcadia Investment Management Corp MI lifted its position in Eli Lilly and Company by 148.7% in the second quarter. Arcadia Investment Management Corp MI now owns 2,833 shares of the company’s stock valued at $2,565,000 after purchasing an additional 1,694 shares during the last quarter. Finally, Synergy Asset Management LLC purchased a new stake in shares of Eli Lilly and Company during the second quarter valued at approximately $11,944,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 15,022 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $882.47, for a total value of $13,256,464.34. Following the sale, the insider now directly owns 97,778,788 shares of the company’s stock, valued at $86,286,847,046.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 737,410 shares of company stock worth $669,719,100. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $902.71 on Friday. The company’s fifty day moving average price is $895.97 and its 200-day moving average price is $827.49. The stock has a market cap of $857.94 billion, a PE ratio of 132.95, a price-to-earnings-growth ratio of 2.91 and a beta of 0.41. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping the consensus estimate of $2.64 by $1.28. The business had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. On average, equities analysts expect that Eli Lilly and Company will post 16.51 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

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 given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, August 19th. Guggenheim upped their price objective on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Barclays increased their target price on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Jefferies Financial Group boosted their price target on 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. Finally, Berenberg Bank increased their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $961.76.

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.