Hillsdale Investment Management Inc. Sells 240 Shares of Eli Lilly and Company (NYSE:LLY)

Hillsdale Investment Management Inc. decreased its stake in Eli Lilly and Company (NYSE:LLY) by 29.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 564 shares of the company’s stock after selling 240 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Eli Lilly and Company were worth $439,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LLY. Lipe & Dalton purchased a new position in shares of Eli Lilly and Company in the fourth quarter worth $26,000. Tidemark LLC bought a new stake in shares of Eli Lilly and Company in the fourth quarter worth about $29,000. Core Wealth Advisors Inc. increased its holdings in shares of Eli Lilly and Company by 188.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 32 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new stake in Eli Lilly and Company during the fourth quarter valued at $37,000. Finally, St. Johns Investment Management Company LLC increased its position in shares of Eli Lilly and Company by 123.3% during the 4th quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock valued at $39,000 after purchasing an additional 37 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 1.0 %

NYSE LLY traded up $8.56 during trading hours on Monday, hitting $866.03. 2,903,566 shares of the company were exchanged, compared to its average volume of 2,970,805. Eli Lilly and Company has a 52-week low of $446.56 and a 52-week high of $966.10. The company has a 50 day moving average of $864.67 and a two-hundred day moving average of $777.93. 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 has a market cap of $823.08 billion, a price-to-earnings ratio of 127.54, a PEG ratio of 1.88 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data 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 net margin of 17.08% and a return on equity of 56.98%. The business had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. During the same quarter in the previous year, the firm earned $1.62 EPS. The company’s revenue was up 26.0% compared to the same quarter last year. Equities research analysts anticipate that Eli Lilly and Company will post 13.71 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 92,563 shares of Eli Lilly and Company stock in a transaction on Friday, May 24th. The shares were sold at an average price of $809.21, for a total value of $74,902,905.23. Following the transaction, the insider now directly owns 98,556,247 shares in the company, valued at approximately $79,752,700,634.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 92,563 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $809.21, for a total value of $74,902,905.23. Following the completion of the transaction, the insider now directly owns 98,556,247 shares of the company’s stock, valued at $79,752,700,634.87. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total value of $5,781,545.28. Following the sale, the executive vice president now directly owns 25,428 shares in the company, valued at approximately $20,835,194.64. The disclosure for this sale can be found here. Insiders have sold 1,214,704 shares of company stock worth $1,066,841,316 in the last quarter. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

LLY has been the subject of several research reports. JPMorgan Chase & Co. upped 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. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,023.00 price target on shares of Eli Lilly and Company in a research report on Friday, July 5th. Berenberg Bank lifted their price objective on shares of Eli Lilly and Company from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, July 11th. Argus increased their target price on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $1,001.00 price target on shares of Eli Lilly and Company in a research report on Wednesday, July 3rd. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $858.72.

About Eli Lilly and Company

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.