Eli Lilly and Company (NYSE:LLY) Major Shareholder Lilly Endowment Inc Sells 8,848 Shares

Eli Lilly and Company (NYSE:LLY) major shareholder Lilly Endowment Inc sold 8,848 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $915.31, for a total value of $8,098,662.88. Following the completion of the transaction, the insider now owns 97,299,772 shares of the company’s stock, valued at approximately $89,059,454,309.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Lilly Endowment Inc also recently made the following trade(s):

• On Monday, July 1st, Lilly Endowment Inc sold 58,749 shares of Eli Lilly and Company stock. The shares were sold at an average price of $915.26, for a total transaction of $53,770,609.74.
• On Friday, June 28th, Lilly Endowment Inc sold 1,441 shares of Eli Lilly and Company stock. The stock was sold at an average price of $915.02, for a total transaction of $1,318,543.82.
• On Monday, June 24th, Lilly Endowment Inc sold 17,229 shares of Eli Lilly and Company stock. The stock was sold at an average price of $902.38, for a total transaction of $15,547,105.02.
• On Thursday, June 20th, Lilly Endowment Inc sold 9,671 shares of Eli Lilly and Company stock. The stock was sold at an average price of $902.67, for a total value of $8,729,721.57.
• On Monday, June 17th, Lilly Endowment Inc sold 194,978 shares of Eli Lilly and Company stock. The shares were sold at an average price of $885.91, for a total value of $172,732,959.98.
• On Friday, June 14th, Lilly Endowment Inc sold 15,022 shares of Eli Lilly and Company stock. The stock was sold at an average price of $882.47, for a total value of $13,256,464.34.
• On Monday, June 10th, Lilly Endowment Inc sold 75,510 shares of Eli Lilly and Company stock. The shares were sold at an average price of $860.78, for a total transaction of $64,997,497.80.
• On Friday, June 7th, Lilly Endowment Inc sold 139,490 shares of Eli Lilly and Company stock. The shares were sold at an average price of $852.29, for a total transaction of $118,885,932.10.
• On Wednesday, June 5th, Lilly Endowment Inc sold 20,383 shares of Eli Lilly and Company stock. The shares were sold at an average price of $836.32, for a total transaction of $17,046,710.56.
• On Monday, June 3rd, Lilly Endowment Inc sold 192,794 shares of Eli Lilly and Company stock. The stock was sold at an average price of $829.77, for a total value of $159,974,677.38.

Eli Lilly and Company Price Performance

Shares of LLY opened at $898.10 on Thursday. Eli Lilly and Company has a twelve month low of $434.34 and a twelve month high of $918.50. The company has a market capitalization of $853.56 billion, a P/E ratio of 132.27, a price-to-earnings-growth ratio of 1.98 and a beta of 0.41. The firm has a 50 day moving average of $821.29 and a 200 day moving average of $745.62. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.05. The firm had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company’s revenue was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.62 earnings per share. As a group, equities research analysts anticipate that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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

Analysts Set New Price Targets

LLY has been the topic of a number of recent research reports. Bank of America reissued a “buy” rating and set a $1,000.00 price objective on shares of Eli Lilly and Company in a report on Monday, June 24th. JPMorgan Chase & Co. increased their price target on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday. The Goldman Sachs Group upped their price target 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. Finally, Truist Financial reiterated a “buy” rating and issued a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $812.72.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Eli Lilly and Company by 1.6% in 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 during the last quarter. Capital World Investors increased its stake in shares of Eli Lilly and Company by 0.3% in the 4th quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock worth $15,709,466,000 after purchasing an additional 89,720 shares in the last quarter. Morgan Stanley raised its holdings in Eli Lilly and Company by 0.7% in the 3rd quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock worth $6,738,605,000 after purchasing an additional 83,915 shares during the period. Norges Bank purchased a new position in Eli Lilly and Company during the fourth quarter valued at $5,992,890,000. Finally, Capital Research Global Investors grew its holdings in Eli Lilly and Company by 6.0% during the first quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock valued at $6,248,210,000 after purchasing an additional 453,939 shares during the period. Institutional investors own 82.53% of the company’s stock.

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.