Lavaca Capital LLC Has $932,000 Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Lavaca Capital LLC lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 59.4% during the 1st quarter, HoldingsChannel reports. The firm owned 1,198 shares of the company’s stock after selling 1,754 shares during the quarter. Eli Lilly and Company comprises 0.5% of Lavaca Capital LLC’s holdings, making the stock its 29th biggest position. Lavaca Capital LLC’s holdings in Eli Lilly and Company were worth $932,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Eli Lilly and Company in the fourth quarter worth $5,992,890,000. International Assets Investment Management LLC grew its stake in shares of Eli Lilly and Company by 61,268.8% in the fourth quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock worth $42,802,530,000 after acquiring an additional 7,330,815 shares during the last quarter. Sapient Capital LLC acquired a new stake in shares of Eli Lilly and Company in the fourth quarter worth $682,139,000. Vanguard Group Inc. grew its stake in shares of 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 worth $56,592,709,000 after acquiring an additional 1,133,810 shares during the last quarter. Finally, GQG Partners LLC grew its stake in shares of Eli Lilly and Company by 20.2% in the first quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock worth $2,994,280,000 after acquiring an additional 648,094 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Bank of America reaffirmed a “buy” rating and issued a $1,000.00 target price on shares of Eli Lilly and Company in a research report on Monday, June 24th. Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. raised their target price on Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Jefferies Financial Group raised their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Finally, Citigroup raised their target price on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $858.72.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the sale, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at approximately $5,842,821.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total value of $197,362,200.00. Following the transaction, the insider now owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The disclosure for this sale can be found here. Insiders sold a total of 1,214,704 shares of company stock worth $1,066,841,316 over the last three months. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock traded up $3.17 during trading on Monday, reaching $807.79. The company’s stock had a trading volume of 2,453,380 shares, compared to its average volume of 2,985,220. The stock has a 50-day moving average price of $870.62 and a two-hundred day moving average price of $785.24. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. Eli Lilly and Company has a one year low of $446.89 and a one year high of $966.10. The stock has a market capitalization of $767.73 billion, a P/E ratio of 118.97, a price-to-earnings-growth ratio of 1.75 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Monday, May 6th. The company reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. The firm had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company’s revenue was up 26.0% on a year-over-year basis. During the same period last year, the company earned $1.62 earnings per share. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 13.79 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company 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 $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 yield of 0.64%. Eli Lilly and Company’s payout ratio is 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.