Eli Lilly and Company (NYSE:LLY) Shares Sold by First Foundation Advisors

First Foundation Advisors reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,728 shares of the company’s stock after selling 47 shares during the period. First Foundation Advisors’ holdings in Eli Lilly and Company were worth $2,122,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Simon Quick Advisors LLC lifted its position in Eli Lilly and Company by 10.5% during the fourth quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock valued at $1,706,000 after purchasing an additional 278 shares during the period. Independent Advisor Alliance lifted its position in Eli Lilly and Company by 1.7% during the fourth quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock valued at $18,810,000 after purchasing an additional 544 shares during the period. Apexium Financial LP lifted its position in Eli Lilly and Company by 1,819.1% during the fourth quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock valued at $6,667,000 after purchasing an additional 10,842 shares during the period. Clear Harbor Asset Management LLC acquired a new position in Eli Lilly and Company during the fourth quarter valued at $363,000. Finally, Terril Brothers Inc. lifted its position in Eli Lilly and Company by 113.2% during the fourth quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock valued at $471,000 after purchasing an additional 429 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the sale, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, major shareholder Lilly Endowment Inc sold 92,563 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $809.21, for a total value of $74,902,905.23. Following the completion of the sale, the insider now owns 98,556,247 shares of the company’s stock, valued at approximately $79,752,700,634.87. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the sale, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,214,704 shares of company stock valued at $1,066,841,316. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

NYSE LLY traded up $8.57 during trading hours on Friday, hitting $857.47. 3,782,167 shares of the company’s stock traded hands, compared to its average volume of 2,938,679. Eli Lilly and Company has a 52-week low of $446.56 and a 52-week high of $966.10. The company has a market capitalization of $814.95 billion, a PE ratio of 126.28, a PEG ratio of 1.86 and a beta of 0.41. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. The firm’s 50-day moving average is $862.51 and its 200-day moving average is $775.05.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The company had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. During the same quarter in the prior year, the company earned $1.62 EPS. Eli Lilly and Company’s revenue was up 26.0% compared to the same quarter last year. Equities analysts forecast that Eli Lilly and Company will post 13.71 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be paid 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 0.61%. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LLY shares. BMO Capital Markets reiterated an “outperform” rating and issued a $1,001.00 price objective on shares of Eli Lilly and Company in a research report on Wednesday, July 3rd. The Goldman Sachs Group upped their price objective on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Truist Financial reiterated a “buy” rating and issued a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, July 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Thursday, July 11th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $858.72.

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.