Insider Selling: Eli Lilly and Company (NYSE:LLY) Major Shareholder Sells 58,749 Shares of Stock

Eli Lilly and Company (NYSE:LLY) major shareholder Lilly Endowment Inc sold 58,749 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $915.26, for a total transaction of $53,770,609.74. Following the completion of the sale, the insider now directly owns 97,308,620 shares in the company, valued at $89,062,687,541.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, June 28th, Lilly Endowment Inc sold 1,441 shares of Eli Lilly and Company stock. The shares were sold at an average price of $915.02, for a total transaction of $1,318,543.82.
• On Monday, June 24th, Lilly Endowment Inc sold 17,229 shares of Eli Lilly and Company stock. The stock was sold at an average price of $902.38, for a total transaction of $15,547,105.02.
• On Thursday, June 20th, Lilly Endowment Inc sold 9,671 shares of Eli Lilly and Company stock. The stock was sold at an average price of $902.67, for a total transaction of $8,729,721.57.
• 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 transaction of $172,732,959.98.
• On Friday, June 14th, Lilly Endowment Inc sold 15,022 shares of Eli Lilly and Company stock. The stock was sold at an average price of $882.47, for a total transaction 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 stock was sold at an average price of $852.29, for a total transaction of $118,885,932.10.
• On Wednesday, June 5th, Lilly Endowment Inc sold 20,383 shares of Eli Lilly and Company stock. The stock was 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 stock was 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 stock was sold at an average price of $822.11, for a total transaction of $18,255,774.66.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $906.71 on Wednesday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The stock has a market capitalization of $861.75 billion, a P/E ratio of 133.54, a PEG ratio of 1.97 and a beta of 0.41. The company has a 50 day moving average price of $818.06 and a 200 day moving average price of $743.26. Eli Lilly and Company has a fifty-two week low of $434.34 and a fifty-two week high of $916.83.

Eli Lilly and Company (NYSE:LLY) last posted 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 firm had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The firm’s quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter last year, the company posted $1.62 EPS. Equities research analysts forecast that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The business 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 is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.57%. Eli Lilly and Company’s payout ratio is currently 76.58%.

Hedge Funds Weigh In On Eli Lilly and Company

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lipe & Dalton acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at $26,000. Core Wealth Advisors Inc. raised its holdings 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 purchasing an additional 32 shares in the last quarter. Activest Wealth Management acquired a new stake in shares of Eli Lilly and Company in the 1st quarter valued at $39,000. Tidemark LLC acquired a new stake in Eli Lilly and Company during the 4th quarter worth $29,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Eli Lilly and Company during the 1st quarter worth $40,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LLY. Truist Financial restated a “buy” rating and set a $1,000.00 price target (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Bank of America restated a “buy” rating and set a $1,000.00 price target on shares of Eli Lilly and Company in a research report on Monday, June 24th. Argus increased their price objective on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. The Goldman Sachs Group increased their price objective on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Finally, TheStreet upgraded shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $812.72.

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.