Eli Lilly and Company (NYSE:LLY) Major Shareholder Sells $53,770,609.74 in Stock

Eli Lilly and Company (NYSE:LLY) major shareholder Lilly Endowment Inc sold 58,749 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $915.26, for a total transaction of $53,770,609.74. Following the transaction, the insider now owns 97,308,620 shares in the company, valued at $89,062,687,541.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Lilly Endowment Inc also recently made the following trade(s):

• On Wednesday, July 3rd, Lilly Endowment Inc sold 8,848 shares of Eli Lilly and Company stock. The stock was sold at an average price of $915.31, for a total value of $8,098,662.88.
• On Friday, June 28th, Lilly Endowment Inc sold 1,441 shares of Eli Lilly and Company stock. The shares were sold at an average price of $915.02, for a total value of $1,318,543.82.
• On Monday, June 24th, Lilly Endowment Inc sold 17,229 shares of Eli Lilly and Company stock. The shares were sold at an average price of $902.38, for a total value of $15,547,105.02.
• On Thursday, June 20th, Lilly Endowment Inc sold 9,671 shares of Eli Lilly and Company stock. The stock was sold at an average price of $902.67, for a total value of $8,729,721.57.
• On Monday, June 17th, Lilly Endowment Inc sold 194,978 shares of Eli Lilly and Company stock. The shares were sold at an average price of $885.91, for a total transaction of $172,732,959.98.
• On Friday, June 14th, Lilly Endowment Inc sold 15,022 shares of Eli Lilly and Company stock. The stock was sold at an average price of $882.47, for a total transaction of $13,256,464.34.
• On Monday, June 10th, Lilly Endowment Inc sold 75,510 shares of Eli Lilly and Company stock. The stock was sold at an average price of $860.78, for a total transaction of $64,997,497.80.
• On Friday, June 7th, Lilly Endowment Inc sold 139,490 shares of Eli Lilly and Company stock. The shares were sold at an average price of $852.29, for a total value of $118,885,932.10.
• On Wednesday, June 5th, Lilly Endowment Inc sold 20,383 shares of Eli Lilly and Company stock. The stock was sold at an average price of $836.32, for a total value of $17,046,710.56.
• On Monday, June 3rd, Lilly Endowment Inc sold 192,794 shares of Eli Lilly and Company stock. The stock was sold at an average price of $829.77, for a total value of $159,974,677.38.

Eli Lilly and Company Price Performance

Shares of LLY opened at $898.10 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. Eli Lilly and Company has a twelve month low of $434.34 and a twelve month high of $918.50. The stock has a market capitalization of $853.56 billion, a P/E ratio of 132.27, a P/E/G ratio of 1.98 and a beta of 0.41. The company has a 50 day moving average of $824.60 and a 200-day moving average of $746.69.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Monday, May 6th. The company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The business had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. During the same quarter in the prior year, the company posted $1.62 earnings per share. The firm’s revenue was up 26.0% on a year-over-year basis. As a group, equities research analysts forecast that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Analysts Set New Price Targets

LLY has been the topic of several recent analyst reports. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Bank of America reissued a “buy” rating and set a $1,000.00 price target on shares of Eli Lilly and Company in a research report on Monday, June 24th. BMO Capital Markets restated an “outperform” rating and issued a $1,001.00 price objective on shares of Eli Lilly and Company in a research report on Wednesday. Jefferies Financial Group lifted their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Finally, JPMorgan Chase & Co. increased their price target on Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $812.72.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Simon Quick Advisors LLC grew its stake in shares of Eli Lilly and Company by 10.5% in the fourth quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock valued at $1,706,000 after buying an additional 278 shares in the last quarter. Independent Advisor Alliance increased its stake in shares of Eli Lilly and Company by 1.7% during the 4th 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 last quarter. Apexium Financial LP raised its holdings in shares of Eli Lilly and Company by 1,819.1% in the 4th quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock valued at $6,667,000 after purchasing an additional 10,842 shares during the period. Clear Harbor Asset Management LLC acquired a new stake in Eli Lilly and Company in the 4th quarter valued at about $363,000. Finally, Terril Brothers Inc. grew its holdings in Eli Lilly and Company by 113.2% during the fourth quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock worth $471,000 after purchasing an additional 429 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company 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.