Eli Lilly and Company (NYSE:LLY) Shares Sold by Palisade Asset Management LLC

Palisade Asset Management LLC lowered its position in Eli Lilly and Company (NYSE:LLYFree Report) by 0.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 22,509 shares of the company’s stock after selling 200 shares during the period. Eli Lilly and Company accounts for approximately 1.7% of Palisade Asset Management LLC’s portfolio, making the stock its 15th biggest holding. Palisade Asset Management LLC’s holdings in Eli Lilly and Company were worth $17,511,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LLY. Versant Capital Management Inc raised its stake in Eli Lilly and Company by 1.8% during the first quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock worth $573,000 after purchasing an additional 13 shares during the period. Moseley Investment Management Inc. increased its position in shares of Eli Lilly and Company by 0.4% during the first quarter. Moseley Investment Management Inc. now owns 3,890 shares of the company’s stock valued at $3,027,000 after acquiring an additional 14 shares during the last quarter. CGN Advisors LLC increased its position in shares of Eli Lilly and Company by 1.4% during the first quarter. CGN Advisors LLC now owns 1,001 shares of the company’s stock valued at $779,000 after acquiring an additional 14 shares during the last quarter. Twin Peaks Wealth Advisors LLC increased its position in shares of Eli Lilly and Company by 2.0% during the first quarter. Twin Peaks Wealth Advisors LLC now owns 718 shares of the company’s stock valued at $559,000 after acquiring an additional 14 shares during the last quarter. Finally, Pitti Group Wealth Management LLC increased its position in shares of Eli Lilly and Company by 0.8% during the first quarter. Pitti Group Wealth Management LLC now owns 1,673 shares of the company’s stock valued at $1,271,000 after acquiring an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the completion of the sale, the insider now owns 98,554,195 shares in the company, valued at $79,730,343,755. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were 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 owns 7,130 shares in the company, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 858,742 shares of company stock worth $735,573,781. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

LLY has been the subject of a number of recent analyst reports. BMO Capital Markets reiterated an “outperform” rating and set a $1,001.00 price target on shares of Eli Lilly and Company in a research report on Wednesday, July 3rd. The Goldman Sachs Group lifted their price target on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Citigroup lifted their price target on shares of 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. Truist Financial reiterated a “buy” rating and set a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Finally, Jefferies Financial Group lifted their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a report on Monday, June 24th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus target price of $816.78.

Get Our Latest Analysis on LLY

Eli Lilly and Company Trading Up 1.8 %

Shares of Eli Lilly and Company stock opened at $914.57 on Monday. The company has a fifty day simple moving average of $831.69 and a 200-day simple moving average of $752.53. Eli Lilly and Company has a 12-month low of $434.34 and a 12-month high of $918.50. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The stock has a market cap of $869.22 billion, a price-to-earnings ratio of 134.69, a PEG ratio of 1.99 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLYGet Free Report) last released its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The company had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. During the same quarter in the prior year, the firm posted $1.62 earnings per share. Eli Lilly and Company’s revenue for the quarter was up 26.0% on a year-over-year basis. On average, equities analysts forecast that Eli Lilly and Company will post 13.76 EPS 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. Shareholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.57%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

Eli Lilly and Company Profile

(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.

Further Reading

Institutional Ownership by Quarter for Eli Lilly and Company (NYSE:LLY)

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