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

Silvercrest Asset Management Group LLC lowered its position in shares of Eli Lilly and Company (NYSE:LLY) by 5.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,094 shares of the company’s stock after selling 269 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Eli Lilly and Company were worth $3,963,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Independent Advisor Alliance grew its stake in Eli Lilly and Company by 1.7% in the 4th quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock worth $18,810,000 after acquiring an additional 544 shares during the period. Apexium Financial LP lifted its holdings in Eli Lilly and Company by 1,819.1% in the 4th quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock worth $6,667,000 after buying an additional 10,842 shares in the last quarter. Terril Brothers Inc. boosted its position in Eli Lilly and Company by 113.2% in the 4th quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock valued at $471,000 after buying an additional 429 shares during the last quarter. Capital Planning LLC acquired a new stake in shares of Eli Lilly and Company during the first quarter valued at about $262,000. Finally, Hartline Investment Corp increased its position in shares of Eli Lilly and Company by 1.1% during the fourth quarter. Hartline Investment Corp now owns 21,934 shares of the company’s stock worth $12,786,000 after acquiring an additional 248 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

LLY traded down $21.46 during trading hours on Tuesday, hitting $786.33. The company’s stock had a trading volume of 2,621,361 shares, compared to its average volume of 2,982,722. The company has a 50-day simple moving average of $870.62 and a 200 day simple moving average of $785.24. 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 firm has a market capitalization of $747.34 billion, a PE ratio of 116.46, a PEG ratio of 1.75 and a beta of 0.41. Eli Lilly and Company has a fifty-two week low of $446.89 and a fifty-two week high of $966.10.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping 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 company had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. During the same quarter in the prior year, the business posted $1.62 earnings per share. The company’s revenue for the quarter was up 26.0% compared to the same quarter last year. As a group, sell-side analysts expect that Eli Lilly and Company will post 13.79 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.66%. Eli Lilly and Company’s payout ratio is 76.58%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LLY. Jefferies Financial Group lifted their price target on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Morgan Stanley reissued an “overweight” rating and issued a $1,023.00 target price on shares of Eli Lilly and Company in a research report on Friday, July 5th. Berenberg Bank upped their price objective on Eli Lilly and Company from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Truist Financial reiterated a “buy” rating and issued a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Finally, Citigroup upped their price target 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. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $858.72.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of the 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 transaction, the insider now directly owns 98,554,195 shares in the company, valued at $79,730,343,755. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Johna Norton sold 7,056 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the completion of the transaction, the executive vice president now owns 25,428 shares in the company, valued at approximately $20,835,194.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’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 owns 98,554,195 shares in the company, valued at $79,730,343,755. The disclosure for this sale can be found here. In 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 corporate insiders.

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.