Eli Lilly and Company (NYSE:LLY) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 4.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 104,974 shares of the company’s stock after selling 4,400 shares during the quarter. Eli Lilly and Company makes up 0.9% of State of Alaska Department of Revenue’s investment portfolio, making the stock its 10th biggest holding. State of Alaska Department of Revenue’s holdings in Eli Lilly and Company were worth $81,664,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Alps Advisors Inc. boosted its position in shares of Eli Lilly and Company by 86.8% in the 3rd quarter. Alps Advisors Inc. now owns 33,288 shares of the company’s stock valued at $17,880,000 after purchasing an additional 15,471 shares during the period. Elevatus Welath Management acquired a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at about $371,000. EHP Funds Inc. acquired a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at about $269,000. Legacy Advisors LLC boosted its position in shares of Eli Lilly and Company by 14.7% in the 3rd quarter. Legacy Advisors LLC now owns 2,045 shares of the company’s stock valued at $1,098,000 after purchasing an additional 262 shares during the period. Finally, Lakeshore Financial Planning Inc. acquired a new stake in shares of Eli Lilly and Company in the 3rd quarter valued at about $263,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s 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 completion of the transaction, the insider now directly owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the transaction, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly 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 858,742 shares of company stock valued at $735,573,781 in the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on LLY shares. The Goldman Sachs Group upped their target price on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,001.00 price objective on shares of Eli Lilly and Company in a research report on Wednesday. Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Finally, Bank of America reaffirmed a “buy” rating and set a $1,000.00 price objective on shares of Eli Lilly and Company in a research report on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $812.72.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $898.10 on Thursday. Eli Lilly and Company has a 1-year low of $434.34 and a 1-year high of $918.50. The company has a market capitalization of $853.56 billion, a P/E ratio of 132.27, a PEG ratio of 1.98 and a beta of 0.41. The business has a 50 day moving average price of $821.29 and a 200 day moving average price of $745.62. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The firm had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. During the same period last year, the business posted $1.62 EPS. Eli Lilly and Company’s quarterly revenue was up 26.0% on a year-over-year basis. Sell-side analysts expect that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s payout ratio is currently 76.58%.

Eli Lilly and 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.