Eli Lilly and Company (NYSE:LLY) Stock Price Down 0.9% Following Insider Selling

Eli Lilly and Company (NYSE:LLY) shares fell 0.9% on Thursday following insider selling activity. The stock traded as low as $884.00 and last traded at $898.10. 3,078,367 shares changed hands during mid-day trading, an increase of 15% from the average session volume of 2,667,176 shares. The stock had previously closed at $906.71.

Specifically, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 98,554,195 shares in the company, valued at $79,730,343,755. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction dated 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 sale, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 858,742 shares of company stock valued at $735,573,781. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. BMO Capital Markets reiterated an “outperform” rating and issued a $1,001.00 price objective on shares of Eli Lilly and Company in a report on Wednesday. Jefferies Financial Group lifted their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday, June 24th. TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $812.72.

Eli Lilly and Company Trading Down 0.9 %

The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The stock has a market capitalization of $853.56 billion, a PE ratio of 132.27, a PEG ratio of 1.98 and a beta of 0.41. The stock has a 50-day moving average price of $824.60 and a two-hundred day moving average price of $746.69.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $8.94 billion. During the same period in the previous year, the firm earned $1.62 EPS. The business’s quarterly revenue was up 26.0% on a year-over-year basis. As a group, equities analysts forecast that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LLY. Lipe & Dalton purchased a new position in Eli Lilly and Company in the 4th quarter worth approximately $26,000. Tidemark LLC bought a new stake in Eli Lilly and Company in the 4th quarter worth approximately $29,000. Core Wealth Advisors Inc. increased its stake in Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after acquiring an additional 32 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Eli Lilly and Company during the 4th quarter valued at approximately $37,000. Finally, St. Johns Investment Management Company LLC increased its position in shares of Eli Lilly and Company by 123.3% during the 4th quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock valued at $39,000 after purchasing an additional 37 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

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.