Douglas Lane & Associates LLC Sells 323 Shares of Eli Lilly and Company (NYSE:LLY)

Douglas Lane & Associates LLC trimmed its position in Eli Lilly and Company (NYSE:LLY) by 11.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,622 shares of the company’s stock after selling 323 shares during the period. Douglas Lane & Associates LLC’s holdings in Eli Lilly and Company were worth $2,374,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Eli Lilly and Company in the fourth quarter valued at approximately $5,992,890,000. Swedbank AB bought a new position in shares of Eli Lilly and Company during the first quarter valued at $932,797,000. Sapient Capital LLC acquired a new position in shares of Eli Lilly and Company during the fourth quarter worth $682,139,000. Vanguard Group Inc. increased its holdings in 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 valued at $56,592,709,000 after purchasing an additional 1,133,810 shares during the period. Finally, GQG Partners LLC increased its holdings in 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 valued at $2,994,280,000 after purchasing an additional 648,094 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Johna Norton sold 7,056 shares of the stock in a transaction that occurred on 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 directly owns 25,428 shares of the company’s stock, valued at approximately $20,835,194.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total transaction 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. In the last 90 days, insiders sold 1,214,704 shares of company stock worth $1,066,841,316. Insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Truist Financial restated a “buy” rating and set a $1,000.00 price target (up previously from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Jefferies Financial Group upped 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. The Goldman Sachs Group increased their price objective on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $1,001.00 target price on shares of Eli Lilly and Company in a report on Wednesday, July 3rd. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $860.05.

Eli Lilly and Company Stock Up 2.3 %

Shares of LLY traded up $18.03 on Tuesday, reaching $793.29. The company’s stock had a trading volume of 3,435,081 shares, compared to its average volume of 3,015,681. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. Eli Lilly and Company has a twelve month low of $450.58 and a twelve month high of $966.10. The stock has a market capitalization of $753.95 billion, a PE ratio of 117.58, a PEG ratio of 1.81 and a beta of 0.41. The firm has a fifty day moving average of $870.16 and a 200-day moving average of $791.12.

Eli Lilly and Company Dividend Announcement

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

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.