Douglas Lane & Associates LLC Sells 323 Shares of Eli Lilly and Company (NYSE:LLY)

Douglas Lane & Associates LLC lowered its position in Eli Lilly and Company (NYSE:LLY) by 11.0% during the second quarter, Holdings Channel reports. The institutional investor owned 2,622 shares of the company’s stock after selling 323 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Eli Lilly and Company were worth $2,374,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc grew its position in shares of Eli Lilly and Company by 1.8% in the 1st quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock worth $573,000 after buying an additional 13 shares during the last quarter. Innova Wealth Partners grew its position in shares of Eli Lilly and Company by 1.2% in the 1st quarter. Innova Wealth Partners now owns 1,068 shares of the company’s stock worth $831,000 after buying an additional 13 shares during the last quarter. Twin Peaks Wealth Advisors LLC grew its position in shares of Eli Lilly and Company by 2.0% in the 1st quarter. Twin Peaks Wealth Advisors LLC now owns 718 shares of the company’s stock worth $559,000 after buying an additional 14 shares during the last quarter. Pitti Group Wealth Management LLC grew its position in shares of Eli Lilly and Company by 0.8% in the 1st quarter. Pitti Group Wealth Management LLC now owns 1,673 shares of the company’s stock worth $1,271,000 after buying an additional 14 shares during the last quarter. Finally, Ulland Investment Advisors LLC grew its position in shares of Eli Lilly and Company by 7.0% in the 1st quarter. Ulland Investment Advisors LLC now owns 214 shares of the company’s stock worth $166,000 after buying an additional 14 shares during the last quarter. Hedge funds and other institutional investors 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 2,052 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Johna Norton sold 7,056 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the completion of the sale, the executive vice president now owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the sale, the insider now directly owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,214,704 shares of company stock worth $1,066,841,316. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on LLY shares. Barclays boosted their target price on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Bank of America reissued a “buy” rating and set a $1,000.00 target price on shares of Eli Lilly and Company in a research report on Monday, June 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday. Argus boosted their target price on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Finally, Guggenheim boosted their target price on shares of Eli Lilly and Company from $855.00 to $884.00 and gave the stock a “buy” rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $860.05.

Eli Lilly and Company Stock Performance

Shares of LLY traded up $18.03 during trading hours on Tuesday, hitting $793.29. The stock had a trading volume of 3,435,081 shares, compared to its average volume of 3,015,681. 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 firm has a 50-day moving average price of $870.16 and a 200 day moving average price of $791.12. Eli Lilly and Company has a fifty-two week low of $450.58 and a fifty-two week high of $966.10. The firm has a market capitalization of $753.95 billion, a price-to-earnings ratio of 117.58, a PEG ratio of 1.81 and a beta of 0.41.

Eli Lilly and Company Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Eli Lilly and 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.