UMB Bank n.a. Sells 3,363 Shares of Eli Lilly and Company (NYSE:LLY)

UMB Bank n.a. cut its holdings in Eli Lilly and Company (NYSE:LLY) by 2.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 120,828 shares of the company’s stock after selling 3,363 shares during the period. Eli Lilly and Company makes up approximately 1.8% of UMB Bank n.a.’s investment portfolio, making the stock its 10th largest position. UMB Bank n.a.’s holdings in Eli Lilly and Company were worth $109,395,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. F M Investments LLC bought a new stake in Eli Lilly and Company during the second quarter worth about $43,020,000. Smith Chas P & Associates PA Cpas lifted its position in Eli Lilly and Company by 2.3% during the second quarter. Smith Chas P & Associates PA Cpas now owns 1,534 shares of the company’s stock worth $1,389,000 after purchasing an additional 35 shares during the period. American Capital Advisory LLC lifted its position in Eli Lilly and Company by 180.6% during the second quarter. American Capital Advisory LLC now owns 477 shares of the company’s stock worth $432,000 after purchasing an additional 307 shares during the period. Panagora Asset Management Inc. lifted its position in Eli Lilly and Company by 0.9% during the second quarter. Panagora Asset Management Inc. now owns 210,812 shares of the company’s stock worth $190,865,000 after purchasing an additional 1,898 shares during the period. Finally, Blue Chip Partners LLC lifted its position in Eli Lilly and Company by 8.1% during the second quarter. Blue Chip Partners LLC now owns 14,909 shares of the company’s stock worth $13,498,000 after purchasing an additional 1,115 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Up 2.1 %

Eli Lilly and Company stock traded up $19.82 during trading hours on Friday, reaching $960.02. 2,456,992 shares of the company’s stock were exchanged, compared to its average volume of 3,070,253. The firm has a market capitalization of $912.41 billion, a PE ratio of 141.39, a PEG ratio of 1.81 and a beta of 0.41. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The firm’s 50 day simple moving average is $891.13 and its 200 day simple moving average is $819.99. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $972.53.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be issued a $1.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.54%. Eli Lilly and Company’s payout ratio is currently 76.58%.

Insider Buying and Selling at Eli Lilly and Company

In other news, EVP Johna Norton sold 7,056 shares of the firm’s stock in a transaction that occurred 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 approximately $20,835,194.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, major shareholder Lilly Endowment Inc sold 192,794 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $829.77, for a total value of $159,974,677.38. Following the completion of the sale, the insider now directly owns 98,208,810 shares of the company’s stock, valued at approximately $81,490,724,273.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the sale, the executive vice president now directly owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,097,883 shares of company stock valued at $972,022,568. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

LLY has been the subject of several recent analyst reports. 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 stock a “buy” rating in a research report on Friday, August 9th. Barclays increased their target price on 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. Truist Financial restated a “buy” rating and set a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Argus raised their price objective on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Two 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 an average rating of “Moderate Buy” and a consensus target price of $961.76.

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.