Eli Lilly and Company (NYSE:LLY) Shares Sold by L. Roy Papp & Associates LLP

L. Roy Papp & Associates LLP trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 2.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,380 shares of the company’s stock after selling 48 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in Eli Lilly and Company were worth $2,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in LLY. Everpar Advisors LLC acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at $1,845,000. International Assets Investment Management LLC increased its holdings in shares of Eli Lilly and Company by 5.3% in the fourth quarter. International Assets Investment Management LLC now owns 12,597 shares of the company’s stock valued at $7,343,000 after purchasing an additional 632 shares during the period. AMJ Financial Wealth Management purchased a new position in shares of Eli Lilly and Company in the fourth quarter worth about $201,000. GUNN & Co INVESTMENT MANAGEMENT INC. lifted its holdings in shares of Eli Lilly and Company by 124.7% during the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 1,438 shares of the company’s stock worth $838,000 after purchasing an additional 798 shares during the period. Finally, National Wealth Management Group LLC purchased a new stake in Eli Lilly and Company in the fourth quarter valued at approximately $263,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total value of $1,660,068.00. Following the transaction, the insider now directly owns 98,554,195 shares in the company, valued at $79,730,343,755. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the sale, the insider now directly owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Donald A. Zakrowski sold 750 shares of the 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 transaction, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. Insiders have sold 1,122,141 shares of company stock valued at $991,938,411 over the last ninety days. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Guggenheim raised their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Barclays boosted their target price on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Jefferies Financial Group increased their price target 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday. Finally, Truist Financial reaffirmed a “buy” rating and set a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $956.88.

Eli Lilly and Company Trading Down 0.1 %

NYSE LLY traded down $1.43 on Friday, reaching $952.74. 2,058,592 shares of the company were exchanged, compared to its average volume of 3,096,348. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week high of $972.53. The stock has a market capitalization of $905.49 billion, a P/E ratio of 139.88, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. The business’s fifty day moving average price is $884.83 and its 200 day moving average price is $812.10. 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 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 dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s payout ratio 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.