Eli Lilly and Company (NYSE:LLY) Shares Sold by Cairn Investment Group Inc.

Cairn Investment Group Inc. decreased its position in Eli Lilly and Company (NYSE:LLY) by 10.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,580 shares of the company’s stock after selling 400 shares during the quarter. Eli Lilly and Company comprises about 1.6% of Cairn Investment Group Inc.’s holdings, making the stock its 23rd largest position. Cairn Investment Group Inc.’s holdings in Eli Lilly and Company were worth $2,785,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in LLY. Lipe & Dalton purchased a new stake in Eli Lilly and Company in the 4th quarter valued at about $26,000. Tidemark LLC purchased a new stake in Eli Lilly and Company in the 4th quarter valued at about $29,000. Core Wealth Advisors Inc. grew its holdings in shares of 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 purchasing an additional 32 shares during the period. Frank Rimerman Advisors LLC purchased a new stake in shares of Eli Lilly and Company during the 4th quarter worth about $37,000. Finally, St. Johns Investment Management Company LLC grew its holdings in shares of Eli Lilly and Company by 123.3% during the 4th quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock worth $39,000 after purchasing an additional 37 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LLY. Truist Financial restated 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 report on Tuesday. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a report on Monday. TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. JPMorgan Chase & Co. upped their price target on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, Argus upped their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $812.72.

Eli Lilly and Company Trading Up 0.9 %

NYSE:LLY opened at $909.04 on Friday. Eli Lilly and Company has a 1 year low of $434.34 and a 1 year high of $909.57. The stock has a market cap of $863.96 billion, a price-to-earnings ratio of 133.88, a PEG ratio of 1.97 and a beta of 0.36. The business has a fifty day moving average of $807.55 and a 200-day moving average of $735.35. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. During the same quarter in the prior year, the business posted $1.62 earnings per share. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. Equities analysts predict that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company 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 0.57%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the completion of the transaction, the insider now owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the sale, the chief accounting officer now directly owns 7,130 shares in the company, valued at approximately $5,842,821.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total value of $1,660,068.00. Following the sale, the insider now owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The disclosure for this sale can be found here. Insiders sold 789,704 shares of company stock valued at $672,385,964 over the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

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.