Peregrine Asset Advisers Inc. Has $6.88 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Peregrine Asset Advisers Inc. lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 21.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,596 shares of the company’s stock after selling 2,030 shares during the quarter. Eli Lilly and Company makes up approximately 2.7% of Peregrine Asset Advisers Inc.’s portfolio, making the stock its 5th biggest position. Peregrine Asset Advisers Inc.’s holdings in Eli Lilly and Company were worth $6,877,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in LLY. Swedbank AB purchased a new position in shares of Eli Lilly and Company during the 1st quarter worth approximately $932,797,000. Vanguard Group Inc. boosted its position in shares of Eli Lilly and Company by 1.6% during 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 in the last quarter. Wulff Hansen & CO. grew its stake in Eli Lilly and Company by 90,438.0% in the second quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock worth $848,403,000 after purchasing an additional 936,033 shares during the period. GQG Partners LLC raised its holdings in Eli Lilly and Company by 20.2% in the first quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock worth $2,994,280,000 after purchasing an additional 648,094 shares in the last quarter. Finally, Capital International Investors lifted its position in Eli Lilly and Company by 8.1% during the fourth quarter. Capital International Investors now owns 6,636,833 shares of the company’s stock valued at $3,868,559,000 after buying an additional 497,079 shares during the period. Institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 1,441 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $915.02, for a total value of $1,318,543.82. Following the transaction, the insider now owns 97,367,369 shares of the company’s stock, valued at $89,093,089,982.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold 451,900 shares of company stock valued at $418,732,178 over the last 90 days. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $924.05 on Tuesday. The firm’s 50-day moving average price is $897.24 and its 200-day moving average price is $835.09. Eli Lilly and Company has a 52-week low of $516.57 and a 52-week high of $972.53. The company has a market cap of $878.22 billion, a PE ratio of 136.09, a PEG 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 (NYSE:LLY) last issued 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. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. As a group, analysts anticipate that Eli Lilly and Company will post 16.49 EPS 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. Investors of record on Thursday, August 15th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Thursday, August 15th. Eli Lilly and Company’s payout ratio is currently 76.58%.

Analyst Ratings Changes

LLY has been the topic of a number of recent research reports. Bank of America upped their target price 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. JPMorgan Chase & Co. raised their target price on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday. Morgan Stanley reiterated an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Truist Financial restated a “buy” rating and issued a $1,000.00 price target (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $977.35.

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.