Connors Investor Services Inc. Sells 15 Shares of Eli Lilly and Company (NYSE:LLY)

Connors Investor Services Inc. lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 0.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,168 shares of the company’s stock after selling 15 shares during the period. Eli Lilly and Company accounts for approximately 2.3% of Connors Investor Services Inc.’s investment portfolio, making the stock its 9th biggest holding. Connors Investor Services Inc.’s holdings in Eli Lilly and Company were worth $21,881,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Eli Lilly and Company by 1.6% in the 1st 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 last quarter. Capital World Investors grew its stake in shares of Eli Lilly and Company by 0.3% in the 4th quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock valued at $15,709,466,000 after purchasing an additional 89,720 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Eli Lilly and Company by 6.0% in the 1st quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock valued at $6,248,210,000 after purchasing an additional 453,939 shares during the last quarter. Capital International Investors grew its stake in shares of Eli Lilly and Company by 5.1% in the 1st quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock valued at $5,424,243,000 after purchasing an additional 335,560 shares during the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Eli Lilly and Company by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 4,542,089 shares of the company’s stock valued at $2,647,675,000 after purchasing an additional 85,015 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of analyst reports. 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 lifted their price objective on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Wells Fargo & Company boosted their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Bank of America boosted their price target on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Guggenheim boosted their price target on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $977.35.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 17,229 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $902.38, for a total transaction of $15,547,105.02. Following the completion of the transaction, the insider now directly owns 97,556,910 shares of the company’s stock, valued at approximately $88,033,404,445.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 451,900 shares of company stock valued at $418,732,178 in the last three months. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Trading Up 0.0 %

NYSE:LLY opened at $924.05 on Tuesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. Eli Lilly and Company has a one year low of $516.57 and a one year high of $972.53. The business’s 50-day simple moving average is $897.24 and its 200 day simple moving average is $835.09. The stock has a market cap 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.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data 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 analysts’ expectations of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. As a group, sell-side 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Thursday, August 15th. 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.