L. Roy Papp & Associates LLP Has $2.16 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

L. Roy Papp & Associates LLP lessened its stake in Eli Lilly and Company (NYSE:LLY) by 2.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,380 shares of the company’s stock after selling 48 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in Eli Lilly and Company were worth $2,155,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $5,992,890,000. Swedbank AB acquired a new stake in Eli Lilly and Company during the 1st quarter worth $932,797,000. Sapient Capital LLC acquired a new stake in Eli Lilly and Company during the 4th quarter worth $682,139,000. Vanguard Group Inc. raised its position in shares of Eli Lilly and Company by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after acquiring an additional 1,133,810 shares during the last quarter. Finally, GQG Partners LLC lifted its stake in shares of Eli Lilly and Company by 20.2% in the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after purchasing an additional 648,094 shares during the period. 82.53% of the stock is owned by institutional investors.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 22,206 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $822.11, for a total transaction of $18,255,774.66. Following the sale, the insider now owns 98,401,604 shares in the company, valued at approximately $80,896,942,664.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, major shareholder Lilly Endowment Inc sold 22,206 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $822.11, for a total transaction of $18,255,774.66. Following the transaction, the insider now directly owns 98,401,604 shares in the company, valued at approximately $80,896,942,664.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Johna Norton sold 7,056 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The disclosure for this sale can be found here. Insiders sold a total of 1,122,141 shares of company stock worth $991,938,411 in the last three months. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on LLY. Bank of America increased their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. BMO Capital Markets lifted their price objective on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Argus upped their target price on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Deutsche Bank Aktiengesellschaft raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and lifted their price target for the stock from $725.00 to $1,025.00 in a research report on Monday, August 12th. Finally, Guggenheim upped their price objective on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $956.88.

Eli Lilly and Company Stock Down 0.1 %

LLY traded down $1.43 during trading hours on Friday, hitting $952.74. 2,058,592 shares of the company’s stock were exchanged, compared to its average volume of 3,096,348. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. Eli Lilly and Company has a 1-year low of $516.57 and a 1-year high of $972.53. The stock’s 50-day moving average is $884.83 and its two-hundred day moving average is $812.10. The stock has a market cap of $905.49 billion, a price-to-earnings ratio of 139.88, a PEG ratio of 1.81 and a beta of 0.41.

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 dividend of $1.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.55%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

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.