Lane & Associates LLC Cuts Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Lane & Associates LLC lowered its stake in Eli Lilly and Company (NYSE:LLY) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,595 shares of the company’s stock after selling 28 shares during the period. Eli Lilly and Company makes up approximately 1.4% of Lane & Associates LLC’s holdings, making the stock its 20th largest holding. Lane & Associates LLC’s holdings in Eli Lilly and Company were worth $2,350,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Eli Lilly and Company in the fourth quarter valued at about $5,992,890,000. Swedbank AB bought a new stake in shares of Eli Lilly and Company in the first quarter worth about $932,797,000. Vanguard Group Inc. increased its holdings 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 valued at $56,592,709,000 after purchasing an additional 1,133,810 shares during the period. GQG Partners LLC lifted its holdings in Eli Lilly and Company by 20.2% in the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock worth $2,994,280,000 after buying an additional 648,094 shares during the period. Finally, Capital International Investors grew its position in shares of Eli Lilly and Company by 8.1% in the 4th quarter. Capital International Investors now owns 6,636,833 shares of the company’s stock worth $3,868,559,000 after buying an additional 497,079 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 194,978 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $885.91, for a total value of $172,732,959.98. Following the completion of the transaction, the insider now directly owns 97,583,810 shares in the company, valued at approximately $86,450,473,117.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 661,900 shares of company stock worth $604,721,602 over the last 90 days. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on LLY shares. Argus raised their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Jefferies Financial Group upped their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Morgan Stanley reaffirmed 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. Berenberg Bank boosted their price target 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. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and raised their price objective for the stock from $725.00 to $1,025.00 in a report on Monday, August 12th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $961.76.

Eli Lilly and Company Trading Up 0.6 %

Eli Lilly and Company stock opened at $908.39 on Tuesday. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $972.53. The company has a market capitalization of $863.36 billion, a price-to-earnings ratio of 133.78, a price-to-earnings-growth ratio of 2.73 and a beta of 0.42. The business’s fifty day simple moving average is $895.85 and its two-hundred day simple moving average is $829.55. 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 quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. As a group, equities analysts predict that Eli Lilly and Company will post 16.51 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s payout ratio is 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.