OLD National Bancorp IN Decreases Stake in Eli Lilly and Company (NYSE:LLY)

OLD National Bancorp IN decreased its position in Eli Lilly and Company (NYSE:LLY) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 619,583 shares of the company’s stock after selling 2,204 shares during the period. Eli Lilly and Company accounts for 13.2% of OLD National Bancorp IN’s portfolio, making the stock its largest position. OLD National Bancorp IN owned 0.07% of Eli Lilly and Company worth $560,958,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Lipe & Dalton bought a new position in shares of Eli Lilly and Company during the fourth quarter worth about $26,000. Tidemark LLC bought a new position in shares of Eli Lilly and Company during the fourth quarter worth about $29,000. Core Wealth Advisors Inc. grew its holdings in shares of 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. Lynx Investment Advisory bought a new position in shares of Eli Lilly and Company during the second quarter worth about $32,000. Finally, Frank Rimerman Advisors LLC bought a new position in Eli Lilly and Company in the fourth quarter valued at approximately $37,000. Institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LLY shares. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday. 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 research note on Tuesday, May 14th. Barclays lifted their target price on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Berenberg Bank lifted their target price on Eli Lilly and Company from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Finally, Jefferies Financial Group lifted their price target on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $897.83.

Eli Lilly and Company Trading Up 5.6 %

Shares of NYSE LLY traded up $47.04 during trading on Friday, reaching $892.35. The company had a trading volume of 6,582,803 shares, compared to its average volume of 3,089,428. The company’s fifty day moving average price is $869.64 and its 200-day moving average price is $792.50. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $966.10. The stock has a market cap of $848.09 billion, a P/E ratio of 131.42, a PEG ratio of 1.81 and a beta of 0.41. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90.

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 analysts’ consensus estimates of $2.64 by $1.28. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. As a group, research analysts expect that Eli Lilly and Company will post 13.79 earnings per share for the current 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 paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the transaction, the insider now directly owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the transaction, the insider now directly owns 96,943,810 shares of the company’s stock, valued at approximately $91,109,731,514.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Johna Norton sold 7,056 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total value of $5,781,545.28. Following the transaction, the executive vice president now directly owns 25,428 shares in the company, valued at $20,835,194.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,214,704 shares of company stock valued at $1,066,841,316. 0.13% of the stock is owned by company insiders.

Eli Lilly and 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.