Handelsinvest Investeringsforvaltning Has $2.90 Million Stake in Eli Lilly and Company (NYSE:LLY)

Handelsinvest Investeringsforvaltning cut its holdings in Eli Lilly and Company (NYSE:LLY) by 15.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 3,721 shares of the company’s stock after selling 672 shares during the period. Eli Lilly and Company accounts for 1.4% of Handelsinvest Investeringsforvaltning’s investment portfolio, making the stock its 8th largest holding. Handelsinvest Investeringsforvaltning’s holdings in Eli Lilly and Company were worth $2,895,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of LLY. Lipe & Dalton bought a new position in Eli Lilly and Company in the 4th quarter valued at $26,000. Tidemark LLC purchased a new stake in shares of Eli Lilly and Company during the 4th quarter valued at $29,000. Core Wealth Advisors Inc. raised its position 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 valued at $29,000 after buying an additional 32 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Eli Lilly and Company during the 4th quarter valued at $37,000. Finally, St. Johns Investment Management Company LLC raised its position 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 valued at $39,000 after buying an additional 37 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 92,563 shares of Eli Lilly and Company stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the sale, the insider now owns 98,556,247 shares of the company’s stock, valued at approximately $79,752,700,634.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the sale, the executive vice president now owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Lilly Endowment Inc sold 92,563 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $79,752,700,634.87. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 858,742 shares of company stock valued at $735,573,781. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

LLY stock opened at $898.10 on Thursday. The firm’s 50-day moving average price is $821.29 and its two-hundred day moving average price is $745.62. Eli Lilly and Company has a 12-month low of $434.34 and a 12-month high of $918.50. The stock has a market capitalization of $853.56 billion, a price-to-earnings ratio of 132.27, a PEG ratio of 1.98 and a beta of 0.41. 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 quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. The firm had revenue of $8.77 billion for 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 company’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.62 earnings per share. As a group, equities analysts predict that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LLY shares. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Jefferies Financial Group raised their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Citigroup raised their price objective on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. The Goldman Sachs Group raised 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 research report on Thursday, April 11th. Finally, Truist Financial reiterated a “buy” rating and issued a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus 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.