Eli Lilly and Company (NYSE:LLY) Shares Sold by Garrison Asset Management LLC

Garrison Asset Management LLC lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 4.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,577 shares of the company’s stock after selling 120 shares during the quarter. Garrison Asset Management LLC’s holdings in Eli Lilly and Company were worth $2,333,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in LLY. Norges Bank acquired a new stake in Eli Lilly and Company during the 4th quarter worth approximately $5,992,890,000. Swedbank AB acquired a new stake in shares of Eli Lilly and Company in the first quarter valued at $932,797,000. Vanguard Group Inc. boosted its holdings in Eli Lilly and Company by 1.6% in the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after purchasing an additional 1,133,810 shares during the period. GQG Partners LLC grew its stake in Eli Lilly and Company by 20.2% during the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock worth $2,994,280,000 after purchasing an additional 648,094 shares in the last quarter. Finally, Capital International Investors increased its holdings in Eli Lilly and Company by 8.1% during the 4th quarter. Capital International Investors now owns 6,636,833 shares of the company’s stock worth $3,868,559,000 after purchasing an additional 497,079 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 9,671 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $902.67, for a total value of $8,729,721.57. Following the transaction, the insider now directly owns 97,574,139 shares of the company’s stock, valued at approximately $88,077,248,051.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 646,878 shares of company stock valued at $591,465,138 over the last three months. 0.13% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

LLY has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised Eli Lilly and Company from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $725.00 to $1,025.00 in a research report on Monday, August 12th. Bank of America increased their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Truist Financial reaffirmed a “buy” rating and set a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, September 9th. Finally, Berenberg Bank upped 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 research report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $977.35.

Eli Lilly and Company Trading Down 1.2 %

Shares of Eli Lilly and Company stock opened at $923.71 on Friday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The company has a market capitalization of $877.92 billion, a P/E ratio of 136.04, a PEG ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $972.53. The company’s fifty day moving average is $897.12 and its two-hundred day moving average is $833.36.

Eli Lilly and Company (NYSE:LLY) last released its quarterly 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. The firm had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. Analysts forecast that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

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.