New York Life Investment Management LLC Sells 11,512 Shares of Eli Lilly and Company (NYSE:LLY)

New York Life Investment Management LLC reduced its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 9.4% during the second quarter, HoldingsChannel reports. The firm owned 110,504 shares of the company’s stock after selling 11,512 shares during the period. Eli Lilly and Company comprises 1.0% of New York Life Investment Management LLC’s portfolio, making the stock its 18th biggest holding. New York Life Investment Management LLC’s holdings in Eli Lilly and Company were worth $100,048,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Independent Advisor Alliance lifted its holdings in shares of Eli Lilly and Company by 1.7% during the 4th quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock valued at $18,810,000 after buying an additional 544 shares during the period. Apexium Financial LP boosted its position in Eli Lilly and Company by 1,819.1% in the fourth quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock worth $6,667,000 after purchasing an additional 10,842 shares during the last quarter. Capital Planning LLC bought a new stake in shares of Eli Lilly and Company during the 1st quarter valued at about $262,000. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of Eli Lilly and Company during the 1st quarter valued at about $6,916,000. Finally, M&G Plc bought a new position in shares of Eli Lilly and Company in the 1st quarter worth approximately $8,896,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 1,441 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $915.02, for a total value of $1,318,543.82. Following the completion of the transaction, the insider now directly owns 97,367,369 shares of the company’s stock, valued at $89,093,089,982.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold 737,410 shares of company stock valued at $669,719,100 in the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $902.71 on Friday. The firm has a market cap of $857.94 billion, a price-to-earnings ratio of 132.95, a P/E/G ratio of 2.91 and a beta of 0.41. The firm has a fifty day moving average price of $895.97 and a 200 day moving average price of $827.49. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week high of $972.53. 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 (NYSE:LLY) last released its quarterly earnings data on Thursday, August 8th. The company reported $3.92 EPS for the quarter, beating the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The business had revenue of $11.30 billion during the quarter, compared to the consensus estimate of $9.83 billion. As a group, sell-side analysts expect that Eli Lilly and Company will post 16.51 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently issued reports on LLY shares. Guggenheim boosted their target price on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. upped their price objective on Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Bank of America raised their target price 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. Argus upped their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Finally, Barclays lifted their price objective on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $961.76.

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.