Eli Lilly and Company (NYSE:LLY) Shares Sold by First Bancorp Inc ME

First Bancorp Inc ME cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 14.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 521 shares of the company’s stock after selling 85 shares during the quarter. First Bancorp Inc ME’s holdings in Eli Lilly and Company were worth $472,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Burns J W & Co. Inc. NY grew its stake in shares of Eli Lilly and Company by 3.5% during the 2nd quarter. Burns J W & Co. Inc. NY now owns 3,701 shares of the company’s stock worth $3,351,000 after purchasing an additional 125 shares during the period. Xcel Wealth Management LLC grew its stake in Eli Lilly and Company by 3.7% in the 2nd quarter. Xcel Wealth Management LLC now owns 555 shares of the company’s stock valued at $502,000 after acquiring an additional 20 shares during the last quarter. Iowa State Bank grew its stake in Eli Lilly and Company by 4.2% in the 2nd quarter. Iowa State Bank now owns 5,152 shares of the company’s stock valued at $4,665,000 after acquiring an additional 208 shares during the last quarter. Shelton Wealth Management LLC grew its stake in Eli Lilly and Company by 12.8% in the 2nd quarter. Shelton Wealth Management LLC now owns 644 shares of the company’s stock valued at $583,000 after acquiring an additional 73 shares during the last quarter. Finally, KG&L Capital Management LLC grew its stake in Eli Lilly and Company by 0.9% in the 2nd quarter. KG&L Capital Management LLC now owns 4,551 shares of the company’s stock valued at $4,121,000 after acquiring an additional 40 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Up 0.7 %

Shares of LLY stock traded up $6.65 during trading hours on Thursday, hitting $958.62. 1,678,515 shares of the company were exchanged, compared to its average volume of 3,093,463. The firm has a market cap of $911.08 billion, a PE ratio of 141.57, a PEG ratio of 1.81 and a beta of 0.41. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $972.53. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The firm has a fifty day moving average of $883.39 and a 200 day moving average of $811.11.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a dividend of $1.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.54%. Eli Lilly and Company’s payout ratio is currently 76.58%.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the sale, the insider now owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Johna Norton sold 7,056 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the completion of the sale, the executive vice president now owns 25,428 shares of the company’s stock, valued at approximately $20,835,194.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the sale, the insider now directly owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. 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. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on LLY shares. Berenberg Bank increased their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. 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. Morgan Stanley reissued an “overweight” rating and issued a $1,023.00 price objective on shares of Eli Lilly and Company in a research note on Friday, July 5th. 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, Deutsche Bank Aktiengesellschaft upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and upped their target price for the company from $725.00 to $1,025.00 in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $956.88.

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.