Lumbard & Kellner LLC Has $2.97 Million Stake in Eli Lilly and Company (NYSE:LLY)

Lumbard & Kellner LLC decreased its stake in Eli Lilly and Company (NYSE:LLY) by 14.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,280 shares of the company’s stock after selling 555 shares during the quarter. Lumbard & Kellner LLC’s holdings in Eli Lilly and Company were worth $2,970,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of LLY. Twelve Points Wealth Management LLC boosted its stake in Eli Lilly and Company by 1.4% in the second quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock worth $734,000 after purchasing an additional 11 shares in the last quarter. Verum Partners LLC boosted its stake in Eli Lilly and Company by 1.5% in the second quarter. Verum Partners LLC now owns 731 shares of the company’s stock worth $662,000 after purchasing an additional 11 shares in the last quarter. Acorn Creek Capital LLC boosted its stake in Eli Lilly and Company by 1.3% in the second quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock worth $840,000 after purchasing an additional 12 shares in the last quarter. Thompson Davis & CO. Inc. boosted its stake in Eli Lilly and Company by 0.7% in the second quarter. Thompson Davis & CO. Inc. now owns 1,687 shares of the company’s stock worth $1,527,000 after purchasing an additional 12 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in Eli Lilly and Company by 1.8% in the first quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock worth $573,000 after purchasing an additional 13 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 17,229 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $902.38, for a total value of $15,547,105.02. Following the completion of the sale, the insider now directly owns 97,556,910 shares in the company, valued at $88,033,404,445.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 451,900 shares of company stock worth $418,732,178 over the last ninety days. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of recent analyst reports. Truist Financial reissued a “buy” rating and issued a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Barclays boosted their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Jefferies Financial Group boosted their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday. Finally, BMO Capital Markets upped their price target on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $977.35.

Eli Lilly and Company Trading Down 1.9 %

NYSE:LLY opened at $906.17 on Wednesday. Eli Lilly and Company has a 1-year low of $516.57 and a 1-year high of $972.53. The business’s 50-day moving average price is $896.70 and its two-hundred day moving average price is $835.96. 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 firm has a market capitalization of $861.23 billion, a price-to-earnings ratio of 133.46, a PEG ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. On average, equities analysts expect that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were issued a $1.30 dividend. The ex-dividend date was Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.57%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 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.