Eli Lilly and Company (NYSE:LLY) Shares Sold by US Asset Management LLC

US Asset Management LLC lowered its position in Eli Lilly and Company (NYSE:LLY) by 3.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,020 shares of the company’s stock after selling 74 shares during the period. Eli Lilly and Company accounts for 1.7% of US Asset Management LLC’s portfolio, making the stock its 9th largest holding. US Asset Management LLC’s holdings in Eli Lilly and Company were worth $1,829,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Twelve Points Wealth Management LLC grew its holdings in Eli Lilly and Company by 1.4% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 811 shares of the company’s stock valued at $734,000 after buying an additional 11 shares in the last quarter. Verum Partners LLC grew its stake in shares of Eli Lilly and Company by 1.5% in the second quarter. Verum Partners LLC now owns 731 shares of the company’s stock valued at $662,000 after acquiring an additional 11 shares in the last quarter. Acorn Creek Capital LLC increased its position in Eli Lilly and Company by 1.3% during the second quarter. Acorn Creek Capital LLC now owns 927 shares of the company’s stock worth $840,000 after acquiring an additional 12 shares during the period. Thompson Davis & CO. Inc. raised its stake in Eli Lilly and Company by 0.7% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,687 shares of the company’s stock worth $1,527,000 after purchasing an additional 12 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Eli Lilly and Company by 1.8% in the 1st quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock valued at $573,000 after purchasing an additional 13 shares during the period. Institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LLY. Truist Financial reissued a “buy” rating and set a $1,000.00 price target (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. JPMorgan Chase & Co. raised their price target on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday. Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Wells Fargo & Company raised their target price on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Citigroup started coverage on shares of Eli Lilly and Company in a report on Friday. They set a “buy” rating and a $1,060.00 price target for the company. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $977.35.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $923.71 on Friday. The firm has a 50 day moving average of $897.12 and a 200-day moving average of $832.88. The company has a market cap of $877.92 billion, a price-to-earnings ratio of 136.04, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. The firm had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. On average, equities analysts forecast that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is 76.58%.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the transaction, the insider now directly owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 646,878 shares of company stock worth $591,465,138 in the last quarter. 0.13% of the stock is currently owned by corporate insiders.

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.