Lavaca Capital LLC Lowers Holdings in Eli Lilly and Company (NYSE:LLY)

Lavaca Capital LLC decreased its stake in Eli Lilly and Company (NYSE:LLY) by 59.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,198 shares of the company’s stock after selling 1,754 shares during the quarter. Eli Lilly and Company makes up 0.5% of Lavaca Capital LLC’s holdings, making the stock its 29th largest position. Lavaca Capital LLC’s holdings in Eli Lilly and Company were worth $932,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in 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 worth $56,592,709,000 after purchasing an additional 1,133,810 shares in the last quarter. Capital World Investors boosted its position in Eli Lilly and Company by 0.3% during the fourth 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 in the last quarter. Norges Bank purchased a new position in Eli Lilly and Company during the fourth quarter worth approximately $5,992,890,000. Capital Research Global Investors boosted its position in Eli Lilly and Company by 6.0% during the first quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock worth $6,248,210,000 after purchasing an additional 453,939 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in Eli Lilly and Company by 61,268.8% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on LLY shares. Truist Financial reissued a “buy” rating and set a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Morgan Stanley reissued an “overweight” rating and set a $1,023.00 target price on shares of Eli Lilly and Company in a report on Friday, July 5th. BMO Capital Markets reissued an “outperform” rating and set a $1,001.00 target price on shares of Eli Lilly and Company in a report on Wednesday, July 3rd. Argus increased their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Finally, Barclays increased their price target on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $858.72.

Eli Lilly and Company Stock Up 0.4 %

NYSE:LLY traded up $3.17 during midday trading on Monday, reaching $807.79. The company had a trading volume of 2,453,380 shares, compared to its average volume of 2,985,220. The firm has a market capitalization of $767.73 billion, a price-to-earnings ratio of 118.97, a PEG ratio of 1.75 and a beta of 0.41. The stock’s fifty day simple moving average is $870.62 and its 200-day simple moving average is $785.24. Eli Lilly and Company has a 12-month low of $446.89 and a 12-month high of $966.10. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share 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 company had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. During the same period last year, the firm earned $1.62 earnings per share. Eli Lilly and Company’s quarterly revenue was up 26.0% on a year-over-year basis. On average, sell-side analysts anticipate that Eli Lilly and Company will post 13.79 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the sale, the insider now owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.38, for a total value of $5,781,545.28. Following the transaction, the executive vice president now owns 25,428 shares in the company, valued at approximately $20,835,194.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $197,362,200.00. Following the completion of the transaction, the insider now owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,214,704 shares of company stock worth $1,066,841,316. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company 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.