Eli Lilly and Company (NYSE:LLY) Shares Sold by Cascade Investment Group Inc.

Cascade Investment Group Inc. cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 25.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 591 shares of the company’s stock after selling 200 shares during the period. Cascade Investment Group Inc.’s holdings in Eli Lilly and Company were worth $535,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Lipe & Dalton acquired a new position in Eli Lilly and Company in the 4th quarter valued at approximately $26,000. Tidemark LLC acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at about $29,000. Core Wealth Advisors Inc. raised its stake in shares of 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 purchasing an additional 32 shares during the period. Lynx Investment Advisory acquired a new stake in shares of Eli Lilly and Company in the second quarter valued at about $32,000. Finally, Frank Rimerman Advisors LLC bought a new position in Eli Lilly and Company during the fourth quarter worth about $37,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 92,563 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $809.21, for a total value of $74,902,905.23. Following the completion of the sale, the insider now directly owns 98,556,247 shares in the company, valued at $79,752,700,634.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the transaction, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Lilly Endowment Inc sold 92,563 shares of Eli Lilly and Company stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $809.21, for a total value of $74,902,905.23. Following the transaction, the insider now directly owns 98,556,247 shares in the company, valued at $79,752,700,634.87. The disclosure for this sale can be found here. Insiders have sold 1,214,704 shares of company stock valued at $1,066,841,316 over the last 90 days. 0.13% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

LLY has been the subject of several recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday, August 5th. Bank of America upped their price target 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 report on Friday, August 9th. BMO Capital Markets increased their price objective on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Wells Fargo & Company increased their price objective on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. raised 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 given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $948.29.

Eli Lilly and Company Stock Performance

Shares of LLY stock traded up $22.30 during trading on Wednesday, reaching $930.35. The company had a trading volume of 3,560,061 shares, compared to its average volume of 3,102,179. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. The firm’s 50 day simple moving average is $873.64 and its two-hundred day simple moving average is $800.31. The company has a market capitalization of $884.21 billion, a PE ratio of 137.02, a PEG ratio of 1.81 and a beta of 0.41. Eli Lilly and Company has a one year low of $516.57 and a one year high of $966.10.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 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.