Eli Lilly and Company (NYSE:LLY) Shares Sold by Cohen Klingenstein LLC

Cohen Klingenstein LLC lowered its stake in Eli Lilly and Company (NYSE:LLY) by 1.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 138,464 shares of the company’s stock after selling 1,798 shares during the quarter. Eli Lilly and Company comprises 4.6% of Cohen Klingenstein LLC’s portfolio, making the stock its 6th largest position. Cohen Klingenstein LLC’s holdings in Eli Lilly and Company were worth $125,363,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Independent Advisor Alliance boosted its holdings in 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 purchasing an additional 544 shares during the last quarter. Apexium Financial LP boosted its holdings 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 last quarter. Terril Brothers Inc. boosted its holdings in Eli Lilly and Company by 113.2% in the fourth quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock valued at $471,000 after purchasing an additional 429 shares during the last quarter. Capital Planning LLC purchased a new position in Eli Lilly and Company in the first quarter valued at about $262,000. Finally, Hartline Investment Corp boosted its holdings in Eli Lilly and Company by 1.1% in the fourth quarter. Hartline Investment Corp now owns 21,934 shares of the company’s stock valued at $12,786,000 after purchasing an additional 248 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY traded down $7.30 during midday trading on Monday, reaching $884.38. The stock had a trading volume of 4,099,107 shares, compared to its average volume of 3,096,750. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $966.10. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. The firm’s 50 day moving average price is $872.13 and its 200-day moving average price is $798.42. The company has a market capitalization of $840.52 billion, a P/E ratio of 130.25, a P/E/G ratio of 1.81 and a beta of 0.41.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 92,563 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Johna Norton sold 7,056 shares of Eli Lilly and Company stock in a transaction on 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 transaction, the executive vice president now owns 25,428 shares in the company, valued at $20,835,194.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 owns 98,556,247 shares in the company, valued at approximately $79,752,700,634.87. The disclosure for this sale can be found here. Insiders have sold 1,214,704 shares of company stock valued at $1,066,841,316 over the last three months. Company insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of research analyst reports. Berenberg Bank increased their target price on Eli Lilly and Company from $850.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, July 11th. JPMorgan Chase & Co. increased 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. Deutsche Bank Aktiengesellschaft raised Eli Lilly and Company from a “hold” rating to a “buy” rating and increased their target price for the stock from $725.00 to $1,025.00 in a report on Monday. Barclays increased 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $945.35.

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.