Arden Trust Co Cuts Stake in Eli Lilly and Company (NYSE:LLY)

Arden Trust Co lowered its position in Eli Lilly and Company (NYSE:LLY) by 2.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,175 shares of the company’s stock after selling 109 shares during the quarter. Arden Trust Co’s holdings in Eli Lilly and Company were worth $3,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Simon Quick Advisors LLC boosted its stake in shares of Eli Lilly and Company by 10.5% during the fourth quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock valued at $1,706,000 after purchasing an additional 278 shares during the period. Independent Advisor Alliance boosted its stake in shares of Eli Lilly and Company by 1.7% during the fourth quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock valued at $18,810,000 after purchasing an additional 544 shares during the period. Apexium Financial LP boosted its stake in shares of Eli Lilly and Company by 1,819.1% during the fourth quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock valued at $6,667,000 after purchasing an additional 10,842 shares during the period. Clear Harbor Asset Management LLC purchased a new stake in shares of Eli Lilly and Company during the fourth quarter valued at approximately $363,000. Finally, Terril Brothers Inc. boosted its stake in shares of Eli Lilly and Company by 113.2% during the fourth quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock valued at $471,000 after purchasing an additional 429 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. DZ Bank lowered Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price objective for the company. in a research note on Wednesday, February 21st. The Goldman Sachs Group increased their price objective on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a report on Monday. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $787.53.

Eli Lilly and Company Trading Up 0.7 %

NYSE LLY opened at $891.46 on Wednesday. Eli Lilly and Company has a 12 month low of $434.34 and a 12 month high of $894.87. The stock has a market cap of $847.25 billion, a P/E ratio of 131.29, a P/E/G ratio of 1.93 and a beta of 0.36. The stock’s fifty day moving average price is $790.79 and its 200-day moving average price is $723.56. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Monday, May 6th. The company reported $2.58 EPS for the quarter, topping 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 prior year, the firm posted $1.62 earnings per share. The company’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 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were given a dividend of $1.30 per share. The ex-dividend date was Wednesday, May 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.58%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 194,978 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $885.91, for a total transaction of $172,732,959.98. Following the sale, the insider now directly owns 97,583,810 shares of the company’s stock, valued at $86,450,473,117.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Lilly Endowment Inc sold 194,978 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $885.91, for a total transaction of $172,732,959.98. Following the sale, the insider now directly owns 97,583,810 shares of the company’s stock, valued at $86,450,473,117.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Donald A. Zakrowski sold 750 shares of the firm’s 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 transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The disclosure for this sale can be found here. Insiders have sold 762,804 shares of company stock valued at $648,109,138 over the last ninety days. Insiders own 0.13% of the company’s stock.

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.