DAVENPORT & Co LLC Purchases 291 Shares of Eli Lilly and Company (NYSE:LLY)

DAVENPORT & Co LLC raised its position in Eli Lilly and Company (NYSE:LLY) by 0.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 31,327 shares of the company’s stock after acquiring an additional 291 shares during the period. DAVENPORT & Co LLC’s holdings in Eli Lilly and Company were worth $24,371,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Simon Quick Advisors LLC grew its stake in Eli Lilly and Company by 10.5% in the fourth quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock valued at $1,706,000 after purchasing an additional 278 shares in the last quarter. Independent Advisor Alliance grew its stake in shares of Eli Lilly and Company by 1.7% in the fourth quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock valued at $18,810,000 after buying an additional 544 shares in the last quarter. Apexium Financial LP grew 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 valued at $6,667,000 after buying an additional 10,842 shares in the last quarter. Clear Harbor Asset Management LLC acquired a new position in Eli Lilly and Company during the fourth quarter worth $363,000. Finally, Terril Brothers Inc. raised its position in Eli Lilly and Company by 113.2% during the fourth quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock worth $471,000 after acquiring an additional 429 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on LLY shares. JPMorgan Chase & Co. boosted their price target 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. BMO Capital Markets reiterated an “outperform” rating and set a $1,001.00 target price on shares of Eli Lilly and Company in a research note on Wednesday, July 3rd. Morgan Stanley restated an “overweight” rating and issued a $1,023.00 price target on shares of Eli Lilly and Company in a research note on Friday, July 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, July 1st. Finally, Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and an average target price of $843.00.

Insiders Place Their Bets

In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the company’s stock in a transaction that occurred 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 approximately $79,730,343,755. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’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 owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Johna Norton sold 7,056 shares of the 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 transaction, the executive vice president now 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 90 days, insiders sold 1,214,704 shares of company stock valued at $1,066,841,316. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY traded down $5.57 during midday trading on Thursday, hitting $934.21. The stock had a trading volume of 2,347,978 shares, compared to its average volume of 2,932,666. 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 company has a market capitalization of $887.88 billion, a P/E ratio of 136.88, a price-to-earnings-growth ratio of 2.00 and a beta of 0.41. The company’s 50-day moving average price is $841.60 and its 200-day moving average price is $758.80. Eli Lilly and Company has a fifty-two week low of $434.34 and a fifty-two week high of $945.69.

Eli Lilly and Company (NYSE:LLY) last released its 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 firm had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. During the same period in the prior year, the company earned $1.62 earnings per share. The company’s quarterly revenue was up 26.0% on a year-over-year basis. As a group, equities research analysts predict that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

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 given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date 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.