Connors Investor Services Inc. Sells 83 Shares of Eli Lilly and Company (NYSE:LLY)

Connors Investor Services Inc. cut its position in Eli Lilly and Company (NYSE:LLY) by 0.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,183 shares of the company’s stock after selling 83 shares during the quarter. Eli Lilly and Company comprises approximately 2.0% of Connors Investor Services Inc.’s holdings, making the stock its 11th biggest position. Connors Investor Services Inc.’s holdings in Eli Lilly and Company were worth $18,813,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Eli Lilly and Company by 1.6% during the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after purchasing an additional 1,133,810 shares during the period. Capital World Investors boosted its position in Eli Lilly and Company by 0.3% during the fourth quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock worth $15,709,466,000 after purchasing an additional 89,720 shares during the period. Norges Bank bought a new position in Eli Lilly and Company during the fourth quarter worth $5,992,890,000. Capital Research Global Investors boosted its position in Eli Lilly and Company by 4.5% during the fourth quarter. Capital Research Global Investors now owns 7,577,592 shares of the company’s stock worth $4,417,120,000 after purchasing an additional 325,342 shares during the period. Finally, International Assets Investment Management LLC boosted its position in Eli Lilly and Company by 61,268.8% during the fourth quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock worth $42,802,530,000 after purchasing an additional 7,330,815 shares during the period. 82.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on LLY shares. 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 research report on Tuesday, June 25th. BMO Capital Markets reissued an “outperform” rating and set a $1,001.00 target price on shares of Eli Lilly and Company in a report on Wednesday, July 3rd. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, July 15th. JPMorgan Chase & Co. lifted their target price on 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. Finally, Barclays lifted their target price on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $858.72.

Eli Lilly and Company Price Performance

NYSE LLY traded up $8.57 during trading on Friday, hitting $857.47. 3,782,167 shares of the company’s stock were exchanged, compared to its average volume of 2,938,679. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The company has a market cap of $814.95 billion, a PE ratio of 126.28, a P/E/G ratio of 1.88 and a beta of 0.41. Eli Lilly and Company has a fifty-two week low of $446.56 and a fifty-two week high of $966.10. The stock’s 50 day moving average price is $862.51 and its two-hundred day moving average price is $776.16.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Monday, May 6th. The company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.53 by $0.05. The firm had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The business’s quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.62 earnings per share. Research analysts expect that Eli Lilly and Company will post 13.71 EPS for the current 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 paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.61%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the sale, the executive vice president now directly owns 25,428 shares in the company, valued at $20,835,194.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total value of $1,660,068.00. Following the sale, the insider now owns 98,554,195 shares in the company, valued at $79,730,343,755. 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 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.