Forum Private Client Group LLC Sells 97 Shares of Eli Lilly and Company (NYSE:LLY)

Forum Private Client Group LLC cut its holdings in Eli Lilly and Company (NYSE:LLY) by 1.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 6,505 shares of the company’s stock after selling 97 shares during the period. Eli Lilly and Company accounts for 2.8% of Forum Private Client Group LLC’s investment portfolio, making the stock its 11th largest holding. Forum Private Client Group LLC’s holdings in Eli Lilly and Company were worth $5,890,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Capital Planning LLC bought a new position in Eli Lilly and Company in the 1st quarter valued at $262,000. CHURCHILL MANAGEMENT Corp bought a new position in Eli Lilly and Company in the 1st quarter valued at $6,916,000. M&G Plc bought a new position in Eli Lilly and Company in the 1st quarter valued at $8,896,000. IPG Investment Advisors LLC bought a new position in Eli Lilly and Company in the 4th quarter valued at $351,000. Finally, HighPoint Advisor Group LLC bought a new position in Eli Lilly and Company in the 4th quarter valued at $9,878,000. 82.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LLY has been the subject of several analyst reports. Barclays raised their price target on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Berenberg Bank raised their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Citigroup assumed coverage on shares of Eli Lilly and Company in a research report on Friday, September 13th. They set a “buy” rating and a $1,060.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, September 16th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $977.35.

Eli Lilly and Company Price Performance

LLY stock opened at $921.72 on Friday. The firm’s 50-day moving average price is $895.06 and its two-hundred day moving average price is $837.89. Eli Lilly and Company has a 12-month low of $516.57 and a 12-month high of $972.53. The stock has a market capitalization of $876.01 billion, a price-to-earnings ratio of 135.75, a PEG 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.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The firm had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. As a group, equities analysts predict that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

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

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 17,229 shares of Eli Lilly and Company stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $902.38, for a total transaction of $15,547,105.02. Following the sale, the insider now owns 97,556,910 shares of the company’s stock, valued at approximately $88,033,404,445.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 442,229 shares of company stock valued at $410,002,456. Corporate 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.