Bamco Inc. NY Sells 8,592 Shares of Eli Lilly and Company (NYSE:LLY)

Bamco Inc. NY reduced its position in shares of Eli Lilly and Company (NYSE:LLY) by 24.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,000 shares of the company’s stock after selling 8,592 shares during the period. Bamco Inc. NY’s holdings in Eli Lilly and Company were worth $20,227,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LLY. Lipe & Dalton bought a new stake in Eli Lilly and Company in the 4th quarter valued at $26,000. Tidemark LLC bought a new stake in Eli Lilly and Company in the 4th quarter valued at $29,000. Core Wealth Advisors Inc. boosted its holdings in Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after purchasing an additional 32 shares during the period. Frank Rimerman Advisors LLC bought a new stake in Eli Lilly and Company in the 4th quarter valued at $37,000. Finally, St. Johns Investment Management Company LLC boosted its holdings in Eli Lilly and Company by 123.3% in the 4th quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock valued at $39,000 after purchasing an additional 37 shares during the period. 82.53% of the stock is owned by institutional investors.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the transaction, the insider now owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company 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 transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the transaction, the insider now directly owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,214,704 shares of company stock valued at $1,066,841,316. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Argus increased their price objective 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. Berenberg Bank increased their price objective on shares of Eli Lilly and Company from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. increased their price objective on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Finally, Barclays increased their price objective on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and an average target price of $858.72.

Eli Lilly and Company Price Performance

LLY traded down $16.57 during midday trading on Friday, hitting $804.62. The company had a trading volume of 4,173,942 shares, compared to its average volume of 3,119,787. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The company has a market capitalization of $764.72 billion, a PE ratio of 118.50, a P/E/G ratio of 1.75 and a beta of 0.41. Eli Lilly and Company has a twelve month low of $446.89 and a twelve month high of $966.10. The firm’s 50-day simple moving average is $870.13 and its 200-day simple moving average is $784.03.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.05. The firm had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.62 EPS. Equities research analysts predict that Eli Lilly and Company will post 13.79 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

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.