Deroy & Devereaux Private Investment Counsel Inc. Lowers Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Deroy & Devereaux Private Investment Counsel Inc. decreased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 5.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,611 shares of the company’s stock after selling 148 shares during the period. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Eli Lilly and Company were worth $2,364,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Eli Lilly and Company during the 4th quarter valued at $5,992,890,000. Swedbank AB purchased a new position in Eli Lilly and Company in the first quarter valued at about $932,797,000. Sapient Capital LLC acquired a new position in shares of Eli Lilly and Company during the fourth quarter worth about $682,139,000. Vanguard Group Inc. boosted its position in shares of Eli Lilly and Company by 1.6% in the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after buying an additional 1,133,810 shares during the period. Finally, GQG Partners LLC boosted its position in shares of Eli Lilly and Company by 20.2% in the first 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. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Down 0.8 %

NYSE LLY opened at $940.92 on Friday. The firm has a market capitalization of $894.26 billion, a PE ratio of 138.57, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. The company has a 50-day simple moving average of $890.04 and a 200-day simple moving average of $819.14. Eli Lilly and Company has a one year low of $516.57 and a one year high of $972.53. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.55%. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Insider Buying and Selling at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total value of $197,362,200.00. Following the completion of the transaction, the insider now directly owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Eli Lilly and Company news, EVP Johna Norton sold 7,056 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the sale, the executive vice president now directly owns 25,428 shares in the company, valued at $20,835,194.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value of $197,362,200.00. Following the transaction, the insider now directly owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The disclosure for this sale can be found here. Insiders sold 1,097,883 shares of company stock valued at $972,022,568 in the last ninety days. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

LLY has been the topic of several analyst reports. Wells Fargo & Company raised their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Bank of America lifted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Guggenheim upped 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 note on Friday, August 16th. Barclays lifted their price target on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. Two 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.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $961.76.

Eli Lilly and Company Company Profile

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.