Eli Lilly and Company (NYSE:LLY) Trading Down 0% After Insider Selling

Shares of Eli Lilly and Company (NYSE:LLY) traded down 0% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $898.98 and last traded at $904.50. 467,287 shares were traded during mid-day trading, a decline of 84% from the average session volume of 2,927,002 shares. The stock had previously closed at $904.61.

Specifically, major shareholder Lilly Endowment Inc sold 194,978 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $885.91, for a total value of $172,732,959.98. Following the completion of the sale, the insider now directly owns 97,583,810 shares of the company’s stock, valued at $86,450,473,117.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, major shareholder Lilly Endowment Inc sold 194,978 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $885.91, for a total transaction of $172,732,959.98. Following the completion of the sale, the insider now directly owns 97,583,810 shares of the company’s stock, valued at approximately $86,450,473,117.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Johna Norton sold 7,056 shares of Eli Lilly and Company stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The disclosure for this sale can be found here. Insiders sold a total of 789,704 shares of company stock valued at $672,385,964 over the last three months. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on LLY shares. The Goldman Sachs Group lifted their price target on Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Truist Financial restated a “buy” rating and set a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday. BMO Capital Markets raised their price objective on Eli Lilly and Company from $900.00 to $1,001.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Finally, Citigroup raised their price objective on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $812.72.

Eli Lilly and Company Price Performance

The firm has a market cap of $856.57 billion, a P/E ratio of 132.73, a price-to-earnings-growth ratio of 1.97 and a beta of 0.36. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The business has a 50-day moving average of $804.54 and a two-hundred day moving average of $734.18.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. The business had revenue of $8.77 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the company posted $1.62 EPS. On average, sell-side analysts anticipate that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.58%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Simon Quick Advisors LLC lifted its holdings in Eli Lilly and Company by 10.5% during the 4th quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock worth $1,706,000 after buying an additional 278 shares during the period. Independent Advisor Alliance lifted its holdings in Eli Lilly and Company by 1.7% during the 4th quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock worth $18,810,000 after buying an additional 544 shares during the period. Apexium Financial LP lifted its holdings in Eli Lilly and Company by 1,819.1% during the 4th quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock worth $6,667,000 after buying an additional 10,842 shares during the period. Clear Harbor Asset Management LLC acquired a new position in Eli Lilly and Company during the 4th quarter worth about $363,000. Finally, Terril Brothers Inc. lifted its holdings in Eli Lilly and Company by 113.2% during the 4th quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock worth $471,000 after buying an additional 429 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

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.