Eli Lilly and Company (NYSE:LLY) Stock Price Down 0.2% Following Insider Selling

Eli Lilly and Company (NYSE:LLY)’s share price fell 0.2% on Thursday following insider selling activity. The stock traded as low as $933.11 and last traded at $937.55. 633,563 shares traded hands during trading, a decline of 78% from the average session volume of 2,919,678 shares. The stock had previously closed at $939.78.

Specifically, major shareholder Lilly Endowment Inc sold 2,052 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was 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 directly owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the transaction, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the completion of the sale, the insider now directly owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,214,704 shares of company stock worth $1,066,841,316. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on LLY. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, July 1st. The Goldman Sachs Group raised their price objective on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Citigroup upped their target price on Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Finally, Jefferies Financial Group increased 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 research note on Monday, June 24th. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $843.00.

Eli Lilly and Company Trading Up 1.6 %

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 business’s 50 day moving average price is $849.46 and its 200-day moving average price is $762.65. The firm has a market cap of $902.29 billion, a price-to-earnings ratio of 139.82, a price-to-earnings-growth ratio of 2.05 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last announced 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 return on equity of 56.98% and a net margin of 17.08%. The firm had revenue of $8.77 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. Equities analysts expect that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.55%. Eli Lilly and Company’s payout ratio is currently 76.58%.

Institutional Investors Weigh In On Eli Lilly and Company

A number of institutional investors have recently modified their holdings of the business. Lipe & Dalton acquired a new position in Eli Lilly and Company during the 4th quarter valued at about $26,000. Tidemark LLC bought a new position in Eli Lilly and Company in the 4th quarter worth approximately $29,000. Core Wealth Advisors Inc. increased its position in Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after acquiring an additional 32 shares during the period. Lynx Investment Advisory acquired a new position in Eli Lilly and Company during the 2nd quarter worth $32,000. Finally, Frank Rimerman Advisors LLC acquired a new position in Eli Lilly and Company during the 4th quarter worth $37,000. Institutional investors own 82.53% of the company’s stock.

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.