Freedom Investment Management Inc. Sells 176 Shares of Eli Lilly and Company (NYSE:LLY)

Freedom Investment Management Inc. lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 4.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,072 shares of the company’s stock after selling 176 shares during the period. Freedom Investment Management Inc.’s holdings in Eli Lilly and Company were worth $2,374,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Simon Quick Advisors LLC lifted its position in shares of Eli Lilly and Company by 10.5% during the 4th quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock worth $1,706,000 after purchasing an additional 278 shares during the last quarter. Independent Advisor Alliance lifted its position 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 lifted its position in shares of Eli Lilly and Company by 1,819.1% during the 4th quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock worth $6,667,000 after purchasing an additional 10,842 shares during the last quarter. Clear Harbor Asset Management LLC acquired a new position in shares of Eli Lilly and Company during the 4th quarter worth about $363,000. Finally, Terril Brothers Inc. lifted its position in shares of Eli Lilly and Company by 113.2% during the 4th quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock worth $471,000 after purchasing an additional 429 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 75,510 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $860.78, for a total value of $64,997,497.80. Following the transaction, the insider now owns 97,793,810 shares of the company’s stock, valued at approximately $84,178,955,771.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Johna Norton sold 7,056 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the sale, the executive vice president now owns 25,428 shares of the company’s stock, valued at approximately $20,835,194.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Lilly Endowment Inc sold 75,510 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $860.78, for a total value of $64,997,497.80. Following the sale, the insider now directly owns 97,793,810 shares in the company, valued at approximately $84,178,955,771.80. The disclosure for this sale can be found here. Insiders have sold a total of 552,804 shares of company stock valued at $462,119,714 in the last 90 days. 0.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on LLY shares. Bank of America boosted their price objective on Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a report on Tuesday. The Goldman Sachs Group upped their price target on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Finally, Citigroup upped their price target on Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $787.53.

Eli Lilly and Company Price Performance

NYSE LLY traded up $16.03 during trading hours on Thursday, reaching $883.33. 2,229,629 shares of the company’s stock were exchanged, compared to its average volume of 2,957,180. The stock has a market cap of $839.53 billion, a PE ratio of 129.19, a price-to-earnings-growth ratio of 1.89 and a beta of 0.36. Eli Lilly and Company has a one year low of $434.34 and a one year high of $885.06. The firm has a fifty day moving average of $781.80 and a 200-day moving average of $714.39. 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 (NYSE:LLY) last announced its quarterly earnings data on Monday, May 6th. The company reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. The firm had revenue of $8.77 billion for 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 business’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period last year, the company earned $1.62 EPS. On average, equities research analysts predict that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were given a $1.30 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.59%. 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.