Eli Lilly and Company (NYSE:LLY) Holdings Lessened by Liberty One Investment Management LLC

Liberty One Investment Management LLC reduced its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 33.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,440 shares of the company’s stock after selling 19,172 shares during the period. Eli Lilly and Company comprises 3.9% of Liberty One Investment Management LLC’s portfolio, making the stock its 2nd largest holding. Liberty One Investment Management LLC’s holdings in Eli Lilly and Company were worth $34,803,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LLY. Hobbs Group Advisors LLC bought a new stake in Eli Lilly and Company during the second quarter valued at about $234,000. Sanibel Captiva Trust Company Inc. grew its stake in shares of Eli Lilly and Company by 0.3% during the 2nd quarter. Sanibel Captiva Trust Company Inc. now owns 20,266 shares of the company’s stock valued at $18,348,000 after acquiring an additional 54 shares during the period. Carnegie Investment Counsel grew its stake in shares of Eli Lilly and Company by 1.6% during the 2nd quarter. Carnegie Investment Counsel now owns 6,812 shares of the company’s stock valued at $6,168,000 after acquiring an additional 105 shares during the period. Cidel Asset Management Inc. increased its holdings in Eli Lilly and Company by 1,456.2% in the 2nd quarter. Cidel Asset Management Inc. now owns 10,022 shares of the company’s stock worth $9,074,000 after acquiring an additional 9,378 shares in the last quarter. Finally, Sunpointe LLC raised its stake in Eli Lilly and Company by 12.4% during the 2nd quarter. Sunpointe LLC now owns 745 shares of the company’s stock worth $675,000 after acquiring an additional 82 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total value of $197,362,200.00. Following the transaction, the insider now owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Johna Norton sold 7,056 shares of the 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 transaction, the executive vice president now owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total value of $197,362,200.00. Following the transaction, the insider now owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,214,704 shares of company stock valued at $1,066,841,316. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LLY. Barclays upped their price target on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a report on Monday. Berenberg Bank boosted their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price target on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Finally, Truist Financial reissued a “buy” rating and set a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $956.88.

Eli Lilly and Company Trading Up 3.1 %

NYSE:LLY traded up $28.16 during midday trading on Tuesday, hitting $949.97. 4,891,969 shares of the company traded hands, compared to its average volume of 3,104,851. The firm has a market capitalization of $902.86 billion, a P/E ratio of 140.67, a P/E/G ratio of 1.81 and a beta of 0.41. The firm’s fifty day moving average is $880.04 and its 200-day moving average is $808.13. Eli Lilly and Company has a 12-month low of $516.57 and a 12-month high of $967.00. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a $1.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.55%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

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.