Eli Lilly and Company (NYSE:LLY) Stock Position Decreased by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lessened its position in Eli Lilly and Company (NYSE:LLY) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 441,882 shares of the company’s stock after selling 6,102 shares during the quarter. Eli Lilly and Company comprises 1.3% of Chevy Chase Trust Holdings LLC’s holdings, making the stock its 10th largest position. Chevy Chase Trust Holdings LLC’s holdings in Eli Lilly and Company were worth $400,071,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tidemark LLC purchased a new position in Eli Lilly and Company during the fourth quarter worth approximately $29,000. Core Wealth Advisors Inc. lifted its position in Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after buying an additional 32 shares in the last quarter. Lynx Investment Advisory purchased a new position in Eli Lilly and Company during the second quarter worth approximately $32,000. Frank Rimerman Advisors LLC purchased a new position in Eli Lilly and Company during the fourth quarter worth approximately $37,000. Finally, St. Johns Investment Management Company LLC lifted its position in Eli Lilly and Company by 123.3% during the fourth quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock worth $39,000 after buying an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on LLY shares. Argus lifted their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Barclays lifted their target price on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Bank of America lifted their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Berenberg Bank lifted their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating and lifted their target price for the company from $725.00 to $1,025.00 in a research report on Monday, August 12th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $956.88.

Insider Buying and Selling

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

Eli Lilly and Company Trading Up 3.1 %

Shares of LLY stock traded up $28.16 on Tuesday, hitting $949.97. The stock had a trading volume of 4,886,077 shares, compared to its average volume of 3,105,242. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $967.00. The firm has a market capitalization of $902.86 billion, a P/E ratio of 140.67, a P/E/G ratio of 1.81 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 company’s 50 day moving average price is $880.04 and its 200-day moving average price is $808.13.

Eli Lilly and Company Dividend Announcement

The business also recently announced 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 0.55%. Eli Lilly and Company’s payout ratio is 76.58%.

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.