William Blair Investment Management LLC Sells 37 Shares of Eli Lilly and Company (NYSE:LLY)

William Blair Investment Management LLC trimmed its position in shares of Eli Lilly and Company (NYSE:LLY) by 1.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,943 shares of the company’s stock after selling 37 shares during the period. William Blair Investment Management LLC’s holdings in Eli Lilly and Company were worth $1,759,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of LLY. AMJ Financial Wealth Management acquired a new position in shares of Eli Lilly and Company during the fourth quarter valued at about $201,000. Aveo Capital Partners LLC raised its position in shares of Eli Lilly and Company by 8.2% during the fourth quarter. Aveo Capital Partners LLC now owns 2,020 shares of the company’s stock valued at $1,178,000 after buying an additional 153 shares during the last quarter. Gryphon Financial Partners LLC raised its position in shares of Eli Lilly and Company by 19.4% during the fourth quarter. Gryphon Financial Partners LLC now owns 2,324 shares of the company’s stock valued at $1,355,000 after buying an additional 377 shares during the last quarter. Hillsdale Investment Management Inc. raised its position in shares of Eli Lilly and Company by 11.0% during the fourth quarter. Hillsdale Investment Management Inc. now owns 804 shares of the company’s stock valued at $469,000 after buying an additional 80 shares during the last quarter. Finally, Sachetta LLC acquired a new position in shares of Eli Lilly and Company during the fourth quarter valued at about $99,000. 82.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on LLY. Morgan Stanley reaffirmed an “overweight” rating and set a $1,106.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Berenberg Bank upped their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Bank of America increased their price target on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and raised their price target for the stock from $725.00 to $1,025.00 in a research note on Monday, August 12th. Finally, Truist Financial restated a “buy” rating and set a $1,000.00 price target (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $977.35.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the sale, the insider now owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 451,900 shares of company stock worth $418,732,178 over the last 90 days. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $924.05 on Tuesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The firm has a market cap of $878.22 billion, a P/E ratio of 136.09, a P/E/G ratio of 2.79 and a beta of 0.42. The business’s fifty day moving average is $897.24 and its two-hundred day moving average is $835.09. Eli Lilly and Company has a 52 week low of $516.57 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. Equities research analysts forecast that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

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

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.