Eli Lilly and Company (NYSE:LLY) Shares Sold by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE lessened its position in shares of Eli Lilly and Company (NYSE:LLY) by 15.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,161 shares of the company’s stock after selling 1,455 shares during the quarter. Eli Lilly and Company accounts for 1.5% of Smithbridge Asset Management Inc. DE’s portfolio, making the stock its 20th largest position. Smithbridge Asset Management Inc. DE’s holdings in Eli Lilly and Company were worth $7,389,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of LLY. Vanguard Group Inc. boosted its holdings in Eli Lilly and Company by 1.6% in the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after purchasing an additional 1,133,810 shares during the last quarter. Capital World Investors grew its holdings 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 acquiring an additional 89,720 shares during the period. Norges Bank purchased a new position in Eli Lilly and Company during the fourth quarter valued at approximately $5,992,890,000. Capital Research Global Investors lifted its holdings in Eli Lilly and Company by 6.0% in the first quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock valued at $6,248,210,000 after acquiring an additional 453,939 shares during the period. Finally, Capital International Investors boosted its position in Eli Lilly and Company by 5.1% in the 1st quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock worth $5,424,243,000 after purchasing an additional 335,560 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Down 1.0 %

Shares of LLY stock traded down $9.46 on Friday, hitting $922.12. The stock had a trading volume of 2,364,894 shares, compared to its average volume of 3,096,824. The company’s 50 day moving average price is $878.93 and its 200-day moving average price is $805.16. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $966.10. The firm has a market capitalization of $876.39 billion, a P/E ratio of 135.81, a P/E/G ratio of 1.81 and a beta of 0.41. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be given a $1.30 dividend. 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 dividend payout ratio is presently 76.58%.

Insider Buying and Selling

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value of $197,362,200.00. Following the sale, the insider now directly owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Eli Lilly and Company news, EVP Johna Norton sold 7,056 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were 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 owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the sale, the insider now owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The disclosure for this sale can be found here. Insiders sold 1,214,704 shares of company stock valued at $1,066,841,316 in the last three months. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LLY. JPMorgan Chase & Co. boosted their target price 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, July 11th. BMO Capital Markets lifted their price target on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Truist Financial reissued a “buy” rating and issued a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Bank of America upped their price objective on shares of 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. Finally, Guggenheim boosted their target price on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Friday. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company currently 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.