JGP Global Gestao de Recursos Ltda. Reduces Stake in Eli Lilly and Company (NYSE:LLY)

JGP Global Gestao de Recursos Ltda. trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,152 shares of the company’s stock after selling 25 shares during the period. Eli Lilly and Company comprises about 2.5% of JGP Global Gestao de Recursos Ltda.’s portfolio, making the stock its 6th largest position. JGP Global Gestao de Recursos Ltda.’s holdings in Eli Lilly and Company were worth $1,948,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lynx Investment Advisory purchased a new position in shares of Eli Lilly and Company in the 2nd quarter valued at approximately $32,000. Morton Brown Family Wealth LLC raised its position in Eli Lilly and Company by 45.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after buying an additional 15 shares during the last quarter. Core Wealth Advisors Inc. raised its position in Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after buying an additional 32 shares during the last quarter. Activest Wealth Management purchased a new position in Eli Lilly and Company during the 1st quarter worth approximately $39,000. Finally, Tidemark LLC purchased a new position in Eli Lilly and Company during the 4th quarter worth approximately $29,000. 82.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LLY has been the subject of a number of recent research reports. Jefferies Financial Group raised their price target on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Bank of America lifted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Truist Financial reissued a “buy” rating and issued a $1,000.00 price target (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. JPMorgan Chase & Co. lifted their price target 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, Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday, August 19th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $961.76.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 1,441 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $915.02, for a total value of $1,318,543.82. Following the sale, the insider now directly owns 97,367,369 shares in the company, valued at approximately $89,093,089,982.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 876,900 shares of company stock worth $788,605,032. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Down 0.1 %

NYSE LLY opened at $945.00 on Thursday. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $972.53. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The business’s fifty day simple moving average is $895.96 and its 200-day simple moving average is $826.05. The firm has a market cap of $898.13 billion, a PE ratio of 139.37, a P/E/G ratio of 2.91 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The business had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. As a group, equities analysts anticipate that Eli Lilly and Company will post 16.51 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The business also recently declared 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 0.55%. Eli Lilly and Company’s dividend payout ratio 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.