London Co. of Virginia Decreases Position in Eli Lilly and Company (NYSE:LLY)

Posted by Defense World Staff on Sep 11th, 2023

Eli Lilly and Company logo London Co. of Virginia cut its stake in Eli Lilly and Company (NYSE:LLY – Free Report) by 8.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,486 shares of the company’s stock after selling 2,040 shares during the quarter. London Co. of Virginia’s holdings in Eli Lilly and Company were worth $8,066,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LLY. Norges Bank purchased a new position in Eli Lilly and Company in the 4th quarter worth approximately $3,416,206,000. Moneta Group Investment Advisors LLC lifted its stake in Eli Lilly and Company by 102,752.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,446,026 shares of the company’s stock worth $1,992,374,000 after purchasing an additional 5,440,731 shares in the last quarter. Morgan Stanley lifted its stake in Eli Lilly and Company by 44.1% in the 4th quarter. Morgan Stanley now owns 12,059,204 shares of the company’s stock worth $4,411,740,000 after purchasing an additional 3,691,436 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Eli Lilly and Company by 316.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,434,073 shares of the company’s stock worth $217,569,000 after purchasing an additional 1,850,187 shares in the last quarter. Finally, Mizuho Markets Americas LLC lifted its stake in Eli Lilly and Company by 2,882.6% in the 1st quarter. Mizuho Markets Americas LLC now owns 1,765,702 shares of the company’s stock worth $18,090,000 after purchasing an additional 1,706,502 shares in the last quarter. 81.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $571.41, for a total transaction of $119,996,100.00. Following the completion of the sale, the insider now directly owns 99,983,810 shares of the company’s stock, valued at approximately $57,131,748,872.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $571.41, for a total value of $119,996,100.00. Following the completion of the sale, the insider now directly owns 99,983,810 shares of the company’s stock, valued at $57,131,748,872.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Donald A. Zakrowski sold 600 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $546.51, for a total transaction of $327,906.00. Following the completion of the sale, the chief accounting officer now directly owns 5,378 shares of the company’s stock, valued at $2,939,130.78. The disclosure for this sale can be found here. In the last three months, insiders sold 1,038,161 shares of company stock valued at $21,108,177,335. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

LLY has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Eli Lilly and Company from $510.00 to $600.00 and gave the stock an “overweight” rating in a report on Wednesday, August 9th. The Goldman Sachs Group raised their price target on shares of Eli Lilly and Company from $385.00 to $470.00 and gave the stock a “neutral” rating in a report on Wednesday, August 9th. Morgan Stanley raised their price target on shares of Eli Lilly and Company from $617.00 to $640.00 and gave the stock an “overweight” rating in a report on Tuesday, September 5th. Jefferies Financial Group upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and raised their price target for the stock from $408.00 to $615.00 in a report on Tuesday, August 8th. Finally, Credit Suisse Group raised their price target on shares of Eli Lilly and Company from $490.00 to $580.00 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus price target of $532.78.

Check Out Our Latest Stock Report on LLY

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $586.46 on Monday. The company has a fifty day simple moving average of $499.40 and a two-hundred day simple moving average of $429.63. The company has a market cap of $556.72 billion, a price-to-earnings ratio of 81.57, a price-to-earnings-growth ratio of 2.36 and a beta of 0.32. The company has a quick ratio of 0.87, a current ratio of 1.13 and a debt-to-equity ratio of 1.63. Eli Lilly and Company has a 52 week low of $296.32 and a 52 week high of $587.55.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last released its quarterly earnings data on Tuesday, August 8th. The company reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.13. The business had revenue of $8.31 billion during the quarter, compared to analysts’ expectations of $7.58 billion. Eli Lilly and Company had a net margin of 22.01% and a return on equity of 65.00%. The company’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.25 EPS. As a group, equities analysts anticipate that Eli Lilly and Company will post 9.83 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Tuesday, August 15th were given a dividend of $1.13 per share. The ex-dividend date was Monday, August 14th. This represents a $4.52 annualized dividend and a dividend yield of 0.77%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 62.87%.

Eli Lilly and Company Profile

(Free Report)

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. It 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; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.