Kayne Anderson Rudnick Investment Management LLC Sells 3,466 Shares of Eli Lilly and Company (NYSE:LLY)

Kayne Anderson Rudnick Investment Management LLC reduced its holdings in Eli Lilly and Company (NYSE:LLY) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,962 shares of the company’s stock after selling 3,466 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Eli Lilly and Company were worth $77,829,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of LLY. Tidemark LLC bought a new stake in shares of Eli Lilly and Company during the fourth quarter worth $29,000. Core Wealth Advisors Inc. grew its holdings in Eli Lilly and Company by 188.2% during 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. Lynx Investment Advisory acquired a new stake in Eli Lilly and Company in the 2nd quarter valued at about $32,000. LGT Financial Advisors LLC bought a new position in shares of Eli Lilly and Company in the second quarter worth about $36,000. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of Eli Lilly and Company during the fourth quarter worth approximately $37,000. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Up 0.7 %

NYSE:LLY opened at $921.49 on Friday. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $972.53. The stock has a 50-day moving average price of $895.06 and a two-hundred day moving average price of $838.32. The stock has a market cap of $875.79 billion, a price-to-earnings ratio of 135.71, a PEG ratio of 2.79 and a beta of 0.42. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping the consensus estimate of $2.64 by $1.28. The firm had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. As a group, equities analysts expect that Eli Lilly and Company will post 16.49 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were given a $1.30 dividend. The ex-dividend date was Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.56%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Insider Buying and Selling

In other news, major shareholder Lilly Endowment Inc sold 17,229 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $902.38, for a total value of $15,547,105.02. Following the sale, the insider now directly owns 97,556,910 shares in the company, valued at $88,033,404,445.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 442,229 shares of company stock valued at $410,002,456. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on LLY shares. BMO Capital Markets raised their price target on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a report on Friday, August 9th. JPMorgan Chase & Co. lifted their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Deutsche Bank Aktiengesellschaft raised Eli Lilly and Company from a “hold” rating to a “buy” rating and upped their price target for the company from $725.00 to $1,025.00 in a research note on Monday, August 12th. Barclays upped their price target on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Finally, Berenberg Bank upped their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average price target of $977.35.

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.