Eli Lilly and Company (NYSE:LLY) Trading Down 3.7% After Insider Selling

Eli Lilly and Company (NYSE:LLY)’s stock price traded down 3.7% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $879.08 and last traded at $880.70. 355,445 shares were traded during trading, a decline of 88% from the average session volume of 2,913,557 shares. The stock had previously closed at $914.37.

Specifically, major shareholder Lilly Endowment Inc sold 92,563 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the sale, the insider now directly owns 98,556,247 shares of the company’s stock, valued at $79,752,700,634.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 92,563 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the sale, the insider now directly owns 98,556,247 shares of the company’s stock, valued at $79,752,700,634.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the sale, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 791,145 shares of company stock valued at $673,704,508. 0.13% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a report on Monday. JPMorgan Chase & Co. boosted their price target on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Bank of America reiterated a “buy” rating and issued a $1,000.00 price target on shares of Eli Lilly and Company in a report on Monday, June 24th. Citigroup boosted their price target on Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Finally, Truist Financial reiterated 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, June 25th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $812.72.

Eli Lilly and Company Stock Performance

The business has a 50-day moving average price of $814.40 and a 200-day moving average price of $740.86. The firm has a market capitalization of $840.10 billion, a price-to-earnings ratio of 134.66, a P/E/G ratio of 1.97 and a beta of 0.41. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) 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 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%. The business’s quarterly revenue was up 26.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.62 earnings per share. As a group, sell-side analysts forecast that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s payout ratio is presently 76.58%.

Hedge Funds Weigh In On Eli Lilly and Company

Large investors have recently made changes to their positions in the business. Lipe & Dalton acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at $26,000. Core Wealth Advisors Inc. increased its position in shares of Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after acquiring an additional 32 shares during the period. Activest Wealth Management acquired a new position in shares of Eli Lilly and Company in the 1st quarter valued at $39,000. Tidemark LLC acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at $29,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Eli Lilly and Company during the 1st quarter worth about $40,000. 82.53% of the stock is owned by institutional investors and hedge funds.

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.