Royal London Asset Management Ltd. Sells 64,296 Shares of Eli Lilly and Company (NYSE:LLY)

Royal London Asset Management Ltd. lowered its position in shares of Eli Lilly and Company (NYSE:LLY) by 7.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 785,350 shares of the company’s stock after selling 64,296 shares during the quarter. Eli Lilly and Company comprises about 1.8% of Royal London Asset Management Ltd.’s portfolio, making the stock its 8th largest position. Royal London Asset Management Ltd. owned about 0.08% of Eli Lilly and Company worth $711,040,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Independent Advisor Alliance increased its holdings in Eli Lilly and Company by 1.7% in the 4th quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock worth $18,810,000 after buying an additional 544 shares during the period. Apexium Financial LP increased its stake in shares of Eli Lilly and Company by 1,819.1% in the fourth quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock worth $6,667,000 after acquiring an additional 10,842 shares during the period. Capital Planning LLC purchased a new position in shares of Eli Lilly and Company during the first quarter worth $262,000. CHURCHILL MANAGEMENT Corp acquired a new position in Eli Lilly and Company during the first quarter valued at $6,916,000. Finally, M&G Plc purchased a new stake in Eli Lilly and Company in the first quarter valued at $8,896,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $908.39 on Tuesday. The company has a fifty day simple moving average of $895.85 and a 200-day simple moving average of $829.55. The firm has a market capitalization of $863.36 billion, a price-to-earnings ratio of 133.78, a PEG ratio of 2.73 and a beta of 0.42. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. Eli Lilly and Company has a 52-week low of $516.57 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The firm had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. On average, equities analysts anticipate that Eli Lilly and Company will post 16.51 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

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 paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.57%. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

Insider Activity at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 1,441 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $915.02, for a total transaction of $1,318,543.82. Following the completion of the transaction, the insider now directly owns 97,367,369 shares in the company, valued at $89,093,089,982.38. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last ninety days, insiders have sold 661,900 shares of company stock worth $604,721,602. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

LLY has been the subject of several analyst reports. Bank of America boosted their price objective on 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. JPMorgan Chase & Co. upped their price objective on Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Morgan Stanley reiterated an “overweight” rating and issued a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Wells Fargo & Company lifted their price objective on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Truist Financial reissued 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 note on Tuesday, June 25th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $961.76.

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.