Eli Lilly and Company (NYSE:LLY) Major Shareholder Sells $56,071,200.00 in Stock

Eli Lilly and Company (NYSE:LLY) major shareholder Lilly Endowment Inc sold 240,000 shares of the company’s stock in a transaction dated Thursday, June 10th. The shares were sold at an average price of $233.63, for a total transaction of $56,071,200.00. Following the completion of the sale, the insider now directly owns 109,632,779 shares of the company’s stock, valued at $25,613,506,157.77. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Lilly Endowment Inc also recently made the following trade(s):

  • On Monday, May 24th, Lilly Endowment Inc sold 7,329 shares of Eli Lilly and stock. The shares were sold at an average price of $202.27, for a total transaction of $1,482,436.83.
  • On Thursday, May 20th, Lilly Endowment Inc sold 99,931 shares of Eli Lilly and stock. The shares were sold at an average price of $200.48, for a total transaction of $20,034,166.88.

NYSE:LLY traded down $9.83 during mid-day trading on Friday, reaching $223.71. The stock had a trading volume of 109,028 shares, compared to its average volume of 4,007,794. The company has a 50 day moving average of $194.18. Eli Lilly and Company has a fifty-two week low of $129.21 and a fifty-two week high of $235.85. The company has a market cap of $214.54 billion, a PE ratio of 34.91, a P/E/G ratio of 1.94 and a beta of 0.24. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.10 and a current ratio of 1.42.

Eli Lilly and (NYSE:LLY) last released its quarterly earnings data on Monday, April 26th. The company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $2.12 by ($0.25). Eli Lilly and had a return on equity of 132.28% and a net margin of 23.91%. The firm had revenue of $6.81 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same quarter in the prior year, the company posted $1.75 EPS. The company’s quarterly revenue was up 16.1% on a year-over-year basis. Research analysts predict that Eli Lilly and Company will post 7.9 earnings per share for the current fiscal year.

Eli Lilly and declared that its board has approved a share repurchase program on Monday, May 3rd that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 2.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 10th. Investors of record on Friday, May 14th were issued a $0.85 dividend. The ex-dividend date was Thursday, May 13th. This represents a $3.40 dividend on an annualized basis and a yield of 1.52%. Eli Lilly and’s dividend payout ratio is currently 42.88%.

A number of analysts have commented on LLY shares. Cowen upped their price objective on shares of Eli Lilly and from $195.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, February 12th. Morgan Stanley reduced their price objective on shares of Eli Lilly and from $217.00 to $207.00 and set an “overweight” rating for the company in a research note on Wednesday, April 28th. Truist Securities reaffirmed a “buy” rating and set a $225.00 price objective on shares of Eli Lilly and in a research note on Tuesday. Truist Financial reaffirmed a “buy” rating and set a $225.00 price objective on shares of Eli Lilly and in a research note on Tuesday. Finally, Barclays reduced their price objective on shares of Eli Lilly and from $232.00 to $227.00 and set an “overweight” rating for the company in a research note on Wednesday, April 28th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Eli Lilly and has a consensus rating of “Buy” and an average target price of $202.62.

Large investors have recently added to or reduced their stakes in the stock. Ironwood Wealth Management LLC. boosted its position in Eli Lilly and by 1,646.6% during the fourth quarter. Ironwood Wealth Management LLC. now owns 4,576 shares of the company’s stock worth $773,000 after purchasing an additional 4,314 shares during the period. Baker Tilly Financial LLC bought a new stake in Eli Lilly and during the fourth quarter worth approximately $784,000. DB Wealth Management Group LLC bought a new stake in Eli Lilly and during the fourth quarter worth approximately $34,000. Prio Wealth Limited Partnership boosted its position in Eli Lilly and by 3.8% during the fourth quarter. Prio Wealth Limited Partnership now owns 3,665 shares of the company’s stock worth $619,000 after purchasing an additional 134 shares during the period. Finally, Camden Capital LLC bought a new stake in Eli Lilly and during the fourth quarter worth approximately $343,000. Hedge funds and other institutional investors own 81.63% of the company’s stock.

Eli Lilly and Company Profile

Eli Lilly and Company discovers, develops, manufactures, and markets human pharmaceuticals worldwide. It offers Baqsimi for severe hypoglycemia; 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, Humulin U-500, and Lyumjev for diabetes; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.

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Insider Buying and Selling by Quarter for Eli Lilly and (NYSE:LLY)

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