Eli Lilly and Company (NYSE:LLY) Stake Reduced by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. decreased its stake in Eli Lilly and Company (NYSE:LLY) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,654 shares of the company’s stock after selling 1,877 shares during the period. Eli Lilly and Company makes up 3.3% of Stock Yards Bank & Trust Co.’s portfolio, making the stock its 4th biggest position. Stock Yards Bank & Trust Co.’s holdings in Eli Lilly and Company were worth $100,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of LLY. DHK Financial Advisors Inc. acquired a new stake in Eli Lilly and Company in the second quarter valued at approximately $209,000. Edgestream Partners L.P. boosted its stake in shares of Eli Lilly and Company by 150.3% in the second quarter. Edgestream Partners L.P. now owns 13,387 shares of the company’s stock valued at $12,120,000 after purchasing an additional 8,039 shares during the period. GDS Wealth Management acquired a new stake in Eli Lilly and Company during the 2nd quarter valued at $240,000. Pekin Hardy Strauss Inc. increased its stake in Eli Lilly and Company by 10.6% during the 2nd quarter. Pekin Hardy Strauss Inc. now owns 1,356 shares of the company’s stock worth $1,228,000 after buying an additional 130 shares during the period. Finally, Moors & Cabot Inc. boosted its position in Eli Lilly and Company by 6.3% in the 2nd quarter. Moors & Cabot Inc. now owns 20,882 shares of the company’s stock valued at $18,906,000 after buying an additional 1,229 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 17,229 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $902.38, for a total value of $15,547,105.02. Following the transaction, the insider now owns 97,556,910 shares in the company, valued at $88,033,404,445.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 451,900 shares of company stock valued at $418,732,178 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

NYSE LLY opened at $924.05 on Tuesday. The company has a 50 day simple moving average of $897.24 and a 200-day simple moving average of $835.09. Eli Lilly and Company has a 52-week low of $516.57 and a 52-week high of $972.53. The firm has a market capitalization of $878.22 billion, a price-to-earnings ratio of 136.09, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, beating the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The business had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. Equities research analysts predict that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.56%. The ex-dividend date was Thursday, August 15th. Eli Lilly and Company’s payout ratio is currently 76.58%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on LLY shares. Citigroup initiated coverage on Eli Lilly and Company in a research note on Friday. They issued a “buy” rating and a $1,060.00 price target on the stock. Berenberg Bank upped their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday. Wells Fargo & Company lifted their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Finally, Guggenheim increased their price objective 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. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $977.35.

Eli Lilly and 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.