Eli Lilly and Company (NYSE:LLY) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 447,984 shares of the company’s stock after selling 3,322 shares during the quarter. Eli Lilly and Company accounts for 1.1% of Chevy Chase Trust Holdings LLC’s portfolio, making the stock its 11th largest position. Chevy Chase Trust Holdings LLC’s holdings in Eli Lilly and Company were worth $348,514,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Eli Lilly and Company by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock worth $37,908,273,000 after buying an additional 659,838 shares during the last quarter. Capital World Investors lifted its holdings in shares of Eli Lilly and Company by 0.3% in the 4th quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock worth $15,709,466,000 after purchasing an additional 89,720 shares during the last quarter. Norges Bank bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $5,992,890,000. Capital Research Global Investors lifted its holdings in shares of Eli Lilly and Company by 4.5% in the 4th quarter. Capital Research Global Investors now owns 7,577,592 shares of the company’s stock worth $4,417,120,000 after purchasing an additional 325,342 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Eli Lilly and Company by 61,268.8% in the 4th quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock worth $42,802,530,000 after purchasing an additional 7,330,815 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Lilly Endowment Inc sold 194,978 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $885.91, for a total transaction of $172,732,959.98. Following the transaction, the insider now directly owns 97,583,810 shares in the company, valued at $86,450,473,117.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the transaction, the chief accounting officer now owns 7,130 shares in the company, valued at $5,842,821.10. The disclosure for this sale can be found here. Insiders sold 1,004,704 shares of company stock valued at $869,479,116 over the last quarter. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Up 0.7 %

Shares of Eli Lilly and Company stock traded up $6.72 during midday trading on Wednesday, hitting $939.22. The company’s stock had a trading volume of 1,506,170 shares, compared to its average volume of 2,928,144. The firm has a market capitalization of $892.64 billion, a P/E ratio of 138.21, a PEG ratio of 2.00 and a beta of 0.41. The stock has a 50-day simple moving average of $838.34 and a 200-day simple moving average of $757.52. 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 $434.34 and a 1-year high of $945.69.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The firm had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. During the same quarter last year, the firm earned $1.62 earnings per share. The business’s revenue for the quarter was up 26.0% on a year-over-year basis. As a group, sell-side analysts expect that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business 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 is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.55%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LLY shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, July 1st. The Goldman Sachs Group raised their price target on Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Morgan Stanley reaffirmed an “overweight” rating and set a $1,023.00 target price on shares of Eli Lilly and Company in a research note on Friday, July 5th. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,001.00 target price on shares of Eli Lilly and Company in a research note on Wednesday, July 3rd. Finally, Argus lifted their target price on 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. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $816.78.

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.