Summit Trail Advisors LLC Decreases Position in Eli Lilly and Company (NYSE:LLY)

Summit Trail Advisors LLC lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 10.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,831 shares of the company’s stock after selling 777 shares during the quarter. Summit Trail Advisors LLC’s holdings in Eli Lilly and Company were worth $6,185,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Eli Lilly and Company by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after acquiring an additional 1,133,810 shares in the last quarter. Capital World Investors raised its position in 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 valued at $15,709,466,000 after purchasing an additional 89,720 shares during the last quarter. Capital Research Global Investors increased its stake in Eli Lilly and Company by 6.0% in 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. Capital International Investors boosted its stake in shares of Eli Lilly and Company by 5.1% during the first quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock worth $5,424,243,000 after buying an additional 335,560 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in shares of Eli Lilly and Company by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 4,542,089 shares of the company’s stock worth $2,647,675,000 after buying an additional 85,015 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday, September 16th. Morgan Stanley reissued an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Bank of America upped their price objective on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Jefferies Financial Group upped their price target on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $977.35.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the transaction, the insider now owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 442,229 shares of company stock worth $410,002,456. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Stock Up 0.7 %

Shares of NYSE LLY opened at $921.72 on Friday. The firm has a market cap of $876.01 billion, a P/E ratio of 135.75, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $972.53. The firm’s 50 day moving average price is $895.06 and its 200 day moving average price is $837.89.

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

Eli Lilly and Company Dividend Announcement

The business also recently announced 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 dividend yield of 0.56%. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Eli Lilly and Company 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.