Insider Selling: Eli Lilly and Company (NYSE:LLY) Major Shareholder Sells 9,671 Shares of Stock

Eli Lilly and Company (NYSE:LLY) major shareholder Lilly Endowment Inc sold 9,671 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $902.67, for a total value of $8,729,721.57. Following the transaction, the insider now directly owns 97,574,139 shares in the company, valued at approximately $88,077,248,051.13. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Lilly Endowment Inc also recently made the following trade(s):

• On Monday, June 17th, Lilly Endowment Inc sold 194,978 shares of Eli Lilly and Company stock. The stock was sold at an average price of $885.91, for a total value of $172,732,959.98.
• On Friday, June 14th, Lilly Endowment Inc sold 15,022 shares of Eli Lilly and Company stock. The shares were sold at an average price of $882.47, for a total value of $13,256,464.34.
• On Monday, June 10th, Lilly Endowment Inc sold 75,510 shares of Eli Lilly and Company stock. The stock was sold at an average price of $860.78, for a total transaction of $64,997,497.80.
• On Friday, June 7th, Lilly Endowment Inc sold 139,490 shares of Eli Lilly and Company stock. The shares were sold at an average price of $852.29, for a total value of $118,885,932.10.
• On Wednesday, June 5th, Lilly Endowment Inc sold 20,383 shares of Eli Lilly and Company stock. The shares were sold at an average price of $836.32, for a total transaction of $17,046,710.56.
• On Monday, June 3rd, Lilly Endowment Inc sold 192,794 shares of Eli Lilly and Company stock. The shares were sold at an average price of $829.77, for a total transaction of $159,974,677.38.
• On Friday, May 31st, Lilly Endowment Inc sold 22,206 shares of Eli Lilly and Company stock. The shares were sold at an average price of $822.11, for a total value of $18,255,774.66.
• On Tuesday, May 28th, Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock. The stock was sold at an average price of $809.00, for a total value of $1,660,068.00.
• On Friday, May 24th, Lilly Endowment Inc sold 92,563 shares of Eli Lilly and Company stock. The stock was sold at an average price of $809.21, for a total transaction of $74,902,905.23.

Eli Lilly and Company Stock Up 0.9 %

LLY opened at $891.99 on Monday. The firm’s 50 day simple moving average is $798.59 and its two-hundred day simple moving average is $729.89. The company has a market capitalization of $847.76 billion, a PE ratio of 130.17, a PEG ratio of 1.93 and a beta of 0.36. Eli Lilly and Company has a 1-year low of $434.34 and a 1-year high of $905.45. 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 released its earnings results 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 company had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. Eli Lilly and Company’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.62 earnings per share. As a group, equities analysts forecast that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Wednesday, May 15th. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Institutional Trading of Eli Lilly and Company

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Eli Lilly and Company by 1.6% in the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after acquiring an additional 1,133,810 shares during the period. Capital World Investors lifted its holdings in Eli Lilly and Company by 0.3% in the 4th 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. Morgan Stanley boosted its stake in Eli Lilly and Company by 0.7% in the 3rd quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock worth $6,738,605,000 after purchasing an additional 83,915 shares during the period. Norges Bank purchased a new stake in Eli Lilly and Company during the 4th quarter valued at approximately $5,992,890,000. Finally, Capital Research Global Investors raised its position in shares of 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 valued at $6,248,210,000 after buying an additional 453,939 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Citigroup lifted their price objective on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. lifted their target price on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Jefferies Financial Group raised their price objective on Eli Lilly and Company from $925.00 to $957.00 and gave the company a “buy” rating in a research report on Friday, June 7th. TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday, June 17th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $803.50.

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.