Delap Wealth Advisory LLC Sells 1,205 Shares of Eli Lilly and Company (NYSE:LLY)

Delap Wealth Advisory LLC cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 66.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 596 shares of the company’s stock after selling 1,205 shares during the period. Delap Wealth Advisory LLC’s holdings in Eli Lilly and Company were worth $540,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB purchased a new stake in shares of Eli Lilly and Company in the first quarter worth approximately $932,797,000. Vanguard Group Inc. grew its holdings in Eli Lilly and Company by 1.6% during the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after buying an additional 1,133,810 shares in the last quarter. Wulff Hansen & CO. raised its position in Eli Lilly and Company by 90,438.0% in the 2nd quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after buying an additional 936,033 shares during the last quarter. GQG Partners LLC lifted its stake in Eli Lilly and Company by 20.2% during the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after acquiring an additional 648,094 shares in the last quarter. Finally, Capital International Investors boosted its holdings in Eli Lilly and Company by 8.1% during the 4th quarter. Capital International Investors now owns 6,636,833 shares of the company’s stock worth $3,868,559,000 after acquiring an additional 497,079 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 0.7 %

LLY opened at $921.49 on Friday. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $972.53. The company has a market cap of $875.79 billion, a PE ratio of 135.71, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The company has a 50 day moving average of $895.06 and a 200 day moving average of $838.32.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The firm had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. On average, sell-side analysts expect that Eli Lilly and Company will post 16.49 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Analyst Upgrades and Downgrades

LLY has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and increased their target price for the company from $725.00 to $1,025.00 in a report on Monday, August 12th. Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Bank of America upped their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a report on Friday, August 9th. Wells Fargo & Company lifted their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Finally, Barclays upped their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Three 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, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $977.35.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 17,229 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $902.38, for a total value of $15,547,105.02. Following the transaction, the insider now owns 97,556,910 shares of the company’s stock, valued at $88,033,404,445.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold a total of 442,229 shares of company stock valued at $410,002,456 in the last three months. Company insiders own 0.13% of the company’s stock.

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.