Legacy Capital Group California Inc. Sells 39 Shares of Eli Lilly and Company (NYSE:LLY)

Legacy Capital Group California Inc. cut its position in Eli Lilly and Company (NYSE:LLY) by 2.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,853 shares of the company’s stock after selling 39 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Eli Lilly and Company were worth $1,678,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Lynx Investment Advisory acquired a new position in shares of Eli Lilly and Company during the second quarter valued at about $32,000. Core Wealth Advisors Inc. increased 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 valued at $29,000 after acquiring an additional 32 shares in the last quarter. Activest Wealth Management acquired a new position in shares of Eli Lilly and Company during the first quarter valued at about $39,000. Tidemark LLC acquired a new position in shares of Eli Lilly and Company during the fourth quarter valued at about $29,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Eli Lilly and Company during the first quarter valued at about $40,000. 82.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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 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 in the company, valued at approximately $91,109,731,514.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 shares were sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the sale, the insider now owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the sale, 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 sold a total of 1,214,704 shares of company stock worth $1,066,841,316 in the last 90 days. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LLY. Bank of America upped their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a report on Friday, August 9th. Barclays lifted their price objective on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. BMO Capital Markets increased their price objective on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Truist Financial restated a “buy” rating and set a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Finally, Deutsche Bank Aktiengesellschaft raised Eli Lilly and Company from a “hold” rating to a “buy” rating and increased their price target for the stock from $725.00 to $1,025.00 in a research report on Monday, August 12th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $956.88.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock traded up $1.58 during trading hours on Wednesday, reaching $951.55. The stock had a trading volume of 1,880,307 shares, compared to its average volume of 3,097,677. The stock’s 50 day moving average is $881.72 and its 200 day moving average is $810.11. The firm has a market capitalization of $904.36 billion, a PE ratio of 139.10, a PEG ratio of 1.81 and a beta of 0.41. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $967.00. 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. Shareholders of record on Thursday, August 15th will be given a $1.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.55%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 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.