Avity Investment Management Inc. Has $957,000 Holdings in Eli Lilly and Company (NYSE:LLY)

Avity Investment Management Inc. cut its holdings in Eli Lilly and Company (NYSE:LLY) by 2.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,230 shares of the company’s stock after selling 35 shares during the period. Avity Investment Management Inc.’s holdings in Eli Lilly and Company were worth $957,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LLY. Norges Bank acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at approximately $5,992,890,000. International Assets Investment Management LLC grew its stake in shares of Eli Lilly and Company by 61,268.8% in the fourth quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock valued at $42,802,530,000 after buying an additional 7,330,815 shares in the last quarter. Sapient Capital LLC bought a new position in shares of Eli Lilly and Company in the fourth quarter valued at $682,139,000. Vanguard Group Inc. grew its stake in shares of Eli Lilly and Company by 0.9% in the third quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after buying an additional 659,838 shares in the last quarter. Finally, Comerica Bank bought a new position in shares of Eli Lilly and Company in the third quarter valued at $345,781,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LLY has been the subject of several analyst reports. Truist Financial reissued a “buy” rating and issued a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Citigroup raised their target price on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, June 24th. TheStreet raised shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Finally, Jefferies Financial Group lifted their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $812.72.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 92,563 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $809.21, for a total value of $74,902,905.23. Following the completion of the sale, the insider now owns 98,556,247 shares of the company’s stock, valued at $79,752,700,634.87. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, 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 value of $74,902,905.23. Following the completion of the transaction, the insider now owns 98,556,247 shares of the company’s stock, valued at $79,752,700,634.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $5,781,545.28. Following the completion of the transaction, the executive vice president now directly owns 25,428 shares of the company’s stock, valued at approximately $20,835,194.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 789,704 shares of company stock valued at $672,385,964. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Trading Down 0.4 %

Shares of Eli Lilly and Company stock opened at $905.38 on Friday. The firm has a 50-day moving average of $814.40 and a 200-day moving average of $739.86. The stock has a market cap of $860.48 billion, a PE ratio of 133.34, a PEG ratio of 1.97 and a beta of 0.36. Eli Lilly and Company has a 52-week low of $434.34 and a 52-week high of $915.54. 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 (NYSE:LLY) last announced its earnings results 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 company 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%. Eli Lilly and Company’s quarterly revenue was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.62 earnings per share. As a group, sell-side analysts forecast that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given 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 payout ratio is presently 76.58%.

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.