Eli Lilly and Company (NYSE:LLY) Major Shareholder Sells $85,978,273.52 in Stock

Eli Lilly and Company (NYSE:LLY) major shareholder Lilly Endowment Inc sold 93,593 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $918.64, for a total transaction of $85,978,273.52. Following the completion of the transaction, the insider now directly owns 97,153,810 shares in the company, valued at $89,249,376,018.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Lilly Endowment Inc also recently made the following trade(s):

• On Wednesday, July 10th, Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00.
• On Friday, July 5th, Lilly Endowment Inc sold 52,369 shares of Eli Lilly and Company stock. The shares were sold at an average price of $915.18, for a total transaction of $47,927,061.42.
• On Wednesday, July 3rd, Lilly Endowment Inc sold 8,848 shares of Eli Lilly and Company stock. The stock was sold at an average price of $915.31, for a total value of $8,098,662.88.
• On Monday, July 1st, Lilly Endowment Inc sold 58,749 shares of Eli Lilly and Company stock. The shares were sold at an average price of $915.26, for a total value of $53,770,609.74.
• On Friday, June 28th, Lilly Endowment Inc sold 1,441 shares of Eli Lilly and Company stock. The stock was sold at an average price of $915.02, for a total value of $1,318,543.82.
• On Monday, June 24th, Lilly Endowment Inc sold 17,229 shares of Eli Lilly and Company stock. The stock was sold at an average price of $902.38, for a total transaction of $15,547,105.02.
• On Thursday, June 20th, Lilly Endowment Inc sold 9,671 shares of Eli Lilly and Company stock. The shares were sold at an average price of $902.67, for a total transaction of $8,729,721.57.
• On Monday, June 17th, Lilly Endowment Inc sold 194,978 shares of Eli Lilly and Company stock. The stock was sold at an average price of $885.91, for a total transaction of $172,732,959.98.
• On Friday, June 14th, Lilly Endowment Inc sold 15,022 shares of Eli Lilly and Company stock. The shares were sold at an average price of $882.47, for a total transaction of $13,256,464.34.
• On Monday, June 10th, Lilly Endowment Inc sold 75,510 shares of Eli Lilly and Company stock. The stock was sold at an average price of $860.78, for a total value of $64,997,497.80.

Eli Lilly and Company Price Performance

LLY opened at $934.19 on Friday. Eli Lilly and Company has a 1 year low of $434.34 and a 1 year high of $945.69. The company’s 50 day simple moving average is $845.17 and its 200 day simple moving average is $760.02. The stock has a market capitalization of $887.86 billion, a PE ratio of 137.58, a P/E/G ratio of 2.00 and a beta of 0.41. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. The company had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. Eli Lilly and Company’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter last year, the business earned $1.62 EPS. As a group, sell-side analysts expect that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders 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 dividend yield of 0.56%. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

Hedge Funds Weigh In On Eli Lilly and Company

Hedge funds and other institutional investors have recently modified their holdings of the company. Simon Quick Advisors LLC raised its stake in shares of Eli Lilly and Company by 10.5% in the 4th quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock valued at $1,706,000 after acquiring an additional 278 shares during the period. 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 valued at $18,810,000 after purchasing an additional 544 shares in the last quarter. Apexium Financial LP raised its position in 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 purchasing an additional 10,842 shares during the period. Clear Harbor Asset Management LLC acquired a new position in shares of Eli Lilly and Company during the fourth quarter worth about $363,000. Finally, Terril Brothers Inc. boosted its position in shares of Eli Lilly and Company by 113.2% in the fourth quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock worth $471,000 after buying an additional 429 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on LLY. Truist Financial reaffirmed a “buy” rating and set a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Berenberg Bank boosted their price objective on shares of Eli Lilly and Company from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley restated an “overweight” rating and set a $1,023.00 target price on shares of Eli Lilly and Company in a research report on Friday, July 5th. Finally, Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $843.00.

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.