Artemis Investment Management LLP Sells 745 Shares of Eli Lilly and Company (NYSE:LLY)

Artemis Investment Management LLP cut its position in Eli Lilly and Company (NYSE:LLY) by 1.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,878 shares of the company’s stock after selling 745 shares during the period. Artemis Investment Management LLP’s holdings in Eli Lilly and Company were worth $51,224,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LLY. Simon Quick Advisors LLC lifted its position in shares of Eli Lilly and Company by 10.5% during the fourth quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock worth $1,706,000 after purchasing an additional 278 shares in the last quarter. Independent Advisor Alliance lifted its holdings in Eli Lilly and Company by 1.7% during the 4th quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock worth $18,810,000 after buying an additional 544 shares in the last quarter. Apexium Financial LP boosted its position in Eli Lilly and Company by 1,819.1% in the 4th quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock valued at $6,667,000 after buying an additional 10,842 shares during the last quarter. Clear Harbor Asset Management LLC acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at $363,000. Finally, Terril Brothers Inc. raised its position in shares of Eli Lilly and Company by 113.2% during the fourth quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock worth $471,000 after acquiring an additional 429 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total value of $1,660,068.00. Following the sale, the insider now owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the sale, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the transaction, the insider now owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The disclosure for this sale can be found here. Insiders sold 789,704 shares of company stock valued at $672,385,964 over the last three months. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LLY. 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, June 24th. BMO Capital Markets raised their target price on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Bank of America reissued a “buy” rating and set a $1,000.00 price target on shares of Eli Lilly and Company in a research note 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. Finally, The Goldman Sachs Group lifted their target price on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $812.72.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $905.87 on Friday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. Eli Lilly and Company has a 52 week low of $434.34 and a 52 week high of $915.54. The company’s 50 day moving average price is $814.40 and its two-hundred day moving average price is $738.79. The company has a market capitalization of $860.95 billion, a P/E ratio of 133.41, a price-to-earnings-growth ratio of 1.98 and a beta of 0.36.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.05. The company had revenue of $8.77 billion during the quarter, compared to the consensus estimate 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 revenue was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.62 earnings per share. On average, analysts expect that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a $1.30 dividend. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is 76.58%.

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.