Louisiana State Employees Retirement System Sells 1,200 Shares of Eli Lilly and Company (NYSE:LLY)

Louisiana State Employees Retirement System reduced its stake in Eli Lilly and Company (NYSE:LLY) by 2.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 45,200 shares of the company’s stock after selling 1,200 shares during the quarter. Eli Lilly and Company makes up 0.8% of Louisiana State Employees Retirement System’s investment portfolio, making the stock its 12th largest holding. Louisiana State Employees Retirement System’s holdings in Eli Lilly and Company were worth $40,923,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Eli Lilly and Company in the 4th quarter valued at $5,992,890,000. Swedbank AB acquired a new stake in Eli Lilly and Company during the first quarter worth about $932,797,000. Sapient Capital LLC acquired a new stake in Eli Lilly and Company during the fourth quarter worth about $682,139,000. Vanguard Group Inc. raised its holdings in Eli Lilly and Company by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after acquiring an additional 1,133,810 shares in the last quarter. Finally, GQG Partners LLC lifted its position in shares of Eli Lilly and Company by 20.2% in the 1st 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 period. Institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on LLY shares. Bank of America upped their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Morgan Stanley reissued an “overweight” rating and issued a $1,023.00 price target on shares of Eli Lilly and Company in a research report on Friday, July 5th. Wells Fargo & Company upped their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Jefferies Financial Group upped their price target on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Finally, BMO Capital Markets lifted their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $956.88.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the company’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 completion of the sale, the insider now owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the transaction, the executive vice president now directly owns 25,428 shares in the company, valued at approximately $20,835,194.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the transaction, the insider now owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,122,141 shares of company stock valued at $991,938,411 in the last 90 days. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Trading Down 0.7 %

NYSE:LLY traded down $7.10 on Friday, hitting $947.07. 755,640 shares of the stock were exchanged, compared to its average volume of 3,088,355. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $972.53. The company’s 50-day moving average price is $884.83 and its 200 day moving average price is $812.10. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The stock has a market capitalization of $900.10 billion, a price-to-earnings ratio of 139.88, a P/E/G ratio of 1.81 and a beta of 0.41.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

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.