Eli Lilly and Company (NYSE:LLY) Trading Down 3.7% After Insider Selling

Eli Lilly and Company (NYSE:LLY)’s share price was down 3.7% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $879.08 and last traded at $880.70. Approximately 355,445 shares were traded during trading, a decline of 88% from the average daily volume of 2,913,557 shares. The stock had previously closed at $914.37.

Specifically, major shareholder Lilly Endowment Inc sold 194,978 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $885.91, for a total transaction of $172,732,959.98. Following the sale, the insider now owns 97,583,810 shares of the company’s stock, valued at $86,450,473,117.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 194,978 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $885.91, for a total value of $172,732,959.98. Following the sale, the insider now owns 97,583,810 shares of the company’s stock, valued at $86,450,473,117.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total transaction of $614,602.50. Following the completion of the sale, the chief accounting officer now directly owns 7,130 shares in the company, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 791,145 shares of company stock valued at $673,704,508. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on LLY shares. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday. Citigroup upped their price objective on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group upped 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 research note on Thursday, April 11th. Jefferies Financial Group upped their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Three 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, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average target price of $812.72.

Eli Lilly and Company Stock Down 3.3 %

The firm’s 50-day moving average price is $814.40 and its 200-day moving average price is $740.86. The company has a market cap of $840.10 billion, a price-to-earnings ratio of 134.66, a price-to-earnings-growth ratio of 1.97 and a beta of 0.41. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. The business had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The business’s revenue was up 26.0% on a year-over-year basis. During the same period last year, the business earned $1.62 EPS. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Institutional Investors Weigh In On Eli Lilly and Company

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Eli Lilly and Company by 1.6% during 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 in the last quarter. Capital World Investors grew its holdings in Eli Lilly and Company by 0.3% during 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 in the last quarter. Morgan Stanley boosted its stake in Eli Lilly and Company by 0.7% during the 3rd quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock valued at $6,738,605,000 after acquiring an additional 83,915 shares during the last quarter. Norges Bank bought a new position in Eli Lilly and Company during the 4th quarter valued at $5,992,890,000. Finally, Capital Research Global Investors boosted its stake in Eli Lilly and Company by 6.0% during 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 acquiring an additional 453,939 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

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.