Eli Lilly and Company (NYSE:LLY) Trading Down 2.3% After Insider Selling

Eli Lilly and Company (NYSE:LLY)’s share price was down 2.3% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $878.50 and last traded at $893.26. Approximately 1,700,378 shares were traded during trading, a decline of 42% from the average daily volume of 2,924,231 shares. The stock had previously closed at $914.37.

Specifically, major shareholder Lilly Endowment Inc sold 92,563 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the completion of the transaction, the insider now directly owns 98,556,247 shares in the company, valued at $79,752,700,634.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the business’s 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 of the company’s stock, valued at $5,842,821.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Lilly Endowment Inc sold 92,563 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were 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 owns 98,556,247 shares of the company’s stock, valued at $79,752,700,634.87. The disclosure for this sale can be found here. In the last three months, insiders have sold 858,742 shares of company stock worth $735,573,781. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LLY. Argus raised their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Bank of America reaffirmed a “buy” rating and set a $1,000.00 price objective on shares of Eli Lilly and Company in a research note on Monday, June 24th. The Goldman Sachs Group boosted their price objective on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. BMO Capital Markets reiterated an “outperform” rating and issued a $1,001.00 target price on shares of Eli Lilly and Company in a report on Wednesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $812.72.

Eli Lilly and Company Stock Down 0.9 %

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 has a 50-day moving average of $821.29 and a 200 day moving average of $745.62. The stock has a market capitalization of $853.56 billion, a price-to-earnings ratio of 132.27, a PEG ratio of 1.97 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.05. The firm had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.62 earnings per share. As a group, sell-side analysts forecast that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s payout ratio is presently 76.58%.

Institutional Trading of Eli Lilly and Company

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lipe & Dalton bought a new stake in Eli Lilly and Company in the 4th quarter valued at about $26,000. Core Wealth Advisors Inc. grew its stake in Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after buying an additional 32 shares in the last quarter. Activest Wealth Management bought a new position in Eli Lilly and Company in the 1st quarter valued at about $39,000. Tidemark LLC bought a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $29,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the 1st quarter worth approximately $40,000. Institutional investors own 82.53% of the company’s stock.

About Eli Lilly and Company

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.