Kooman & Associates Trims Stake in Eli Lilly and Company (NYSE:LLY)

Kooman & Associates lowered its stake in Eli Lilly and Company (NYSE:LLY) by 4.5% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 386 shares of the company’s stock after selling 18 shares during the quarter. Kooman & Associates’ holdings in Eli Lilly and Company were worth $349,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in LLY. Swedbank AB bought a new position in shares of Eli Lilly and Company during the first quarter worth about $932,797,000. Vanguard Group Inc. lifted 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 worth $56,592,709,000 after acquiring an additional 1,133,810 shares during the last quarter. Wulff Hansen & CO. increased its stake in shares of Eli Lilly and Company by 90,438.0% in the second quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after purchasing an additional 936,033 shares during the period. GQG Partners LLC increased its stake in shares of 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. Finally, Capital International Investors increased its stake in shares of Eli Lilly and Company by 8.1% in the fourth quarter. Capital International Investors now owns 6,636,833 shares of the company’s stock valued at $3,868,559,000 after purchasing an additional 497,079 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Truist Financial reiterated a “buy” rating and set a $1,000.00 price objective (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Wells Fargo & Company lifted their target price 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. Morgan Stanley reissued an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Bank of America increased their target price on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Barclays boosted their price target on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $977.35.

Eli Lilly and Company Stock Down 1.9 %

LLY stock opened at $906.17 on Wednesday. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $972.53. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The stock’s 50 day moving average is $896.70 and its 200-day moving average is $835.96. The firm has a market capitalization of $861.23 billion, a PE ratio of 133.46, a P/E/G ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $1.28. The firm had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. Sell-side analysts expect that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.57%. The ex-dividend date was Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the completion of the sale, the insider now owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 451,900 shares of company stock worth $418,732,178 over the last ninety days. 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.