Eli Lilly and Company (NYSE:LLY) Shares Sold by Signet Investment Advisory Group Inc.

Signet Investment Advisory Group Inc. decreased its position in Eli Lilly and Company (NYSE:LLY) by 0.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 7,434 shares of the company’s stock after selling 40 shares during the period. Eli Lilly and Company makes up about 3.6% of Signet Investment Advisory Group Inc.’s investment portfolio, making the stock its 6th largest position. Signet Investment Advisory Group Inc.’s holdings in Eli Lilly and Company were worth $6,731,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of LLY. Independent Advisor Alliance raised its position in Eli Lilly and Company by 1.7% during 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 during the period. Apexium Financial LP raised its position in Eli Lilly and Company by 1,819.1% during 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 during the period. 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 valued at $471,000 after buying an additional 429 shares during the period. Capital Planning LLC acquired a new position in Eli Lilly and Company during the first quarter valued at $262,000. Finally, Hartline Investment Corp raised its position in Eli Lilly and Company by 1.1% during the fourth quarter. Hartline Investment Corp now owns 21,934 shares of the company’s stock valued at $12,786,000 after buying an additional 248 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

NYSE:LLY traded down $9.46 during mid-day trading on Friday, hitting $922.12. 2,364,894 shares of the company’s stock traded hands, compared to its average volume of 3,096,824. The firm has a 50 day moving average of $878.93 and a two-hundred day moving average of $805.16. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $966.10. The firm has a market capitalization of $876.39 billion, a price-to-earnings ratio of 135.81, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.56%. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 92,563 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 98,556,247 shares in the company, valued at approximately $79,752,700,634.87. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the sale, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 92,563 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $809.21, for a total value of $74,902,905.23. Following the completion of the sale, the insider now owns 98,556,247 shares of the company’s stock, valued at approximately $79,752,700,634.87. The disclosure for this sale can be found here. Insiders sold a total of 1,214,704 shares of company stock worth $1,066,841,316 in the last 90 days. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

LLY has been the topic of several recent analyst reports. Morgan Stanley reissued an “overweight” rating and set a $1,023.00 price target on shares of Eli Lilly and Company in a research report on Friday, July 5th. 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 research report on Thursday, July 11th. Truist Financial reaffirmed a “buy” rating and issued a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. BMO Capital Markets upped their target price on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Finally, Bank of America upped their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $956.88.

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.