Eli Lilly and Company (NYSE:LLY) Stock Price Down 0.3% After Insider Selling

Eli Lilly and Company (NYSE:LLYGet Free Report) traded down 0.3% on Wednesday after an insider sold shares in the company. The stock traded as low as $817.62 and last traded at $829.80. 807,286 shares changed hands during trading, a decline of 73% from the average session volume of 2,950,857 shares. The stock had previously closed at $832.59.

Specifically, major shareholder Lilly Endowment Inc sold 192,794 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $829.77, for a total value of $159,974,677.38. Following the transaction, the insider now directly owns 98,208,810 shares in the company, valued at approximately $81,490,724,273.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Johna Norton sold 7,056 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the transaction, the executive vice president now directly owns 25,428 shares in the company, valued at approximately $20,835,194.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Lilly Endowment Inc sold 192,794 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $829.77, for a total value of $159,974,677.38. Following the transaction, the insider now owns 98,208,810 shares in the company, valued at $81,490,724,273.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 317,421 shares of company stock worth $261,189,573. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on LLY. Citigroup increased their price objective on Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. increased their target price on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 target price (up from $815.00) on shares of Eli Lilly and Company in a report on Tuesday, April 30th. Bank of America increased their target price on Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, March 1st. Finally, The Goldman Sachs Group increased their target price on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $769.53.

Get Our Latest Report on Eli Lilly and Company

Eli Lilly and Company Trading Down 0.0 %

The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The company has a market cap of $790.93 billion, a P/E ratio of 122.56, a price-to-earnings-growth ratio of 1.81 and a beta of 0.36. The stock has a 50-day moving average of $773.17 and a two-hundred day moving average of $705.26.

Eli Lilly and Company (NYSE:LLYGet Free Report) last posted its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating 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 company had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. During the same quarter last year, the company earned $1.62 EPS. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. On average, equities research analysts predict that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Wednesday, May 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LLY. Objective Capital Management LLC purchased a new position in shares of Eli Lilly and Company in the first quarter worth $239,000. DekaBank Deutsche Girozentrale raised its stake in shares of Eli Lilly and Company by 3.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 911,127 shares of the company’s stock worth $709,116,000 after purchasing an additional 26,229 shares during the last quarter. Tactive Advisors LLC raised its stake in shares of Eli Lilly and Company by 54.0% in the first quarter. Tactive Advisors LLC now owns 1,235 shares of the company’s stock worth $961,000 after purchasing an additional 433 shares during the last quarter. Cambridge Trust Co. raised its stake in shares of Eli Lilly and Company by 196.8% in the first quarter. Cambridge Trust Co. now owns 32,440 shares of the company’s stock worth $25,237,000 after purchasing an additional 21,510 shares during the last quarter. Finally, Pathway Financial Advisers LLC purchased a new position in shares of Eli Lilly and Company in the first quarter worth $823,000. Institutional investors own 82.53% of the company’s stock.

About Eli Lilly and Company

(Get Free Report)

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.

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