Eli Lilly and Company (NYSE:LLY) Major Shareholder Sells $47,927,061.42 in Stock

Eli Lilly and Company (NYSE:LLY) major shareholder Lilly Endowment Inc sold 52,369 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $915.18, for a total transaction of $47,927,061.42. Following the completion of the transaction, the insider now directly owns 97,247,403 shares of the company’s stock, valued at approximately $88,998,878,277.54. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Lilly Endowment Inc also recently made the following trade(s):

• On Monday, July 8th, Lilly Endowment Inc sold 93,593 shares of Eli Lilly and Company stock. The shares were sold at an average price of $918.64, for a total value of $85,978,273.52.
• On Wednesday, July 3rd, Lilly Endowment Inc sold 8,848 shares of Eli Lilly and Company stock. The shares were sold at an average price of $915.31, for a total value of $8,098,662.88.
• On Monday, July 1st, Lilly Endowment Inc sold 58,749 shares of Eli Lilly and Company stock. The stock was sold at an average price of $915.26, for a total transaction of $53,770,609.74.
• On Friday, June 28th, Lilly Endowment Inc sold 1,441 shares of Eli Lilly and Company stock. The shares were sold at an average price of $915.02, for a total transaction of $1,318,543.82.
• On Monday, June 24th, Lilly Endowment Inc sold 17,229 shares of Eli Lilly and Company stock. The stock was sold at an average price of $902.38, for a total transaction of $15,547,105.02.
• On Thursday, June 20th, Lilly Endowment Inc sold 9,671 shares of Eli Lilly and Company stock. The stock was sold at an average price of $902.67, for a total transaction of $8,729,721.57.
• On Monday, June 17th, Lilly Endowment Inc sold 194,978 shares of Eli Lilly and Company stock. The shares were sold at an average price of $885.91, for a total value of $172,732,959.98.
• On Friday, June 14th, Lilly Endowment Inc sold 15,022 shares of Eli Lilly and Company stock. The stock was sold at an average price of $882.47, for a total value of $13,256,464.34.
• On Monday, June 10th, Lilly Endowment Inc sold 75,510 shares of Eli Lilly and Company stock. The stock was sold at an average price of $860.78, for a total value of $64,997,497.80.
• On Friday, June 7th, Lilly Endowment Inc sold 139,490 shares of Eli Lilly and Company stock. The shares were sold at an average price of $852.29, for a total transaction of $118,885,932.10.

Eli Lilly and Company Stock Up 0.8 %

Eli Lilly and Company stock opened at $939.98 on Thursday. Eli Lilly and Company has a 1-year low of $434.34 and a 1-year high of $945.69. The business has a fifty day moving average price of $841.60 and a 200-day moving average price of $758.80. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. The stock has a market capitalization of $893.37 billion, a price-to-earnings ratio of 138.44, a PEG ratio of 2.00 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The business had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. During the same quarter last year, the company earned $1.62 earnings per share. The company’s quarterly revenue was up 26.0% on a year-over-year basis. Equities research analysts forecast that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be paid a dividend of $1.30 per share. 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 0.55%. Eli Lilly and Company’s payout ratio is 76.58%.

Institutional Investors Weigh In On Eli Lilly and Company

Several institutional investors and hedge funds have recently made changes to their positions in LLY. Lipe & Dalton acquired a new stake in Eli Lilly and Company during the 4th quarter worth about $26,000. Tidemark LLC purchased a new position in shares of Eli Lilly and Company in the fourth quarter worth about $29,000. Core Wealth Advisors Inc. lifted its holdings in shares of Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 32 shares during the period. Lynx Investment Advisory purchased a new stake in Eli Lilly and Company in the second quarter valued at approximately $32,000. Finally, Frank Rimerman Advisors LLC acquired a new position in Eli Lilly and Company in the 4th quarter worth approximately $37,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LLY shares. JPMorgan Chase & Co. boosted their price objective on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Jefferies Financial Group increased 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 target price on shares of Eli Lilly and Company in a research report on Monday, July 1st. Citigroup increased their price target 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. Finally, The Goldman Sachs Group lifted their price objective 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. Three 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, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target of $816.78.

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.