GEM Asset Management LLC Sells 25 Shares of Eli Lilly and Company (NYSE:LLY)

GEM Asset Management LLC decreased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 2.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,033 shares of the company’s stock after selling 25 shares during the period. GEM Asset Management LLC’s holdings in Eli Lilly and Company were worth $935,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Norges Bank purchased a new position in Eli Lilly and Company during the fourth quarter valued at $5,992,890,000. Swedbank AB purchased a new position in shares of Eli Lilly and Company in the 1st quarter worth about $932,797,000. Vanguard Group Inc. boosted its stake in Eli Lilly and Company by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after purchasing an additional 1,133,810 shares in the last quarter. GQG Partners LLC grew its position in Eli Lilly and Company by 20.2% during the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after purchasing an additional 648,094 shares during the last quarter. Finally, Capital International Investors raised its holdings in Eli Lilly and Company by 8.1% in the fourth quarter. Capital International Investors now owns 6,636,833 shares of the company’s stock worth $3,868,559,000 after buying an additional 497,079 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on LLY shares. Truist Financial reiterated a “buy” rating and set a $1,000.00 price target (up previously from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Bank of America lifted their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Berenberg Bank upped their price target on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday. Finally, BMO Capital Markets upped their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Three equities 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $961.76.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the stock in a transaction 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 sale, the insider now owns 96,943,810 shares in the company, valued at approximately $91,109,731,514.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders sold 661,900 shares of company stock worth $604,721,602. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Trading Down 0.8 %

Shares of LLY stock opened at $901.28 on Wednesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The stock has a fifty day simple moving average of $895.74 and a two-hundred day simple moving average of $830.47. The firm has a market capitalization of $856.60 billion, a PE ratio of 132.74, a PEG ratio of 2.73 and a beta of 0.42. Eli Lilly and Company has a 52-week low of $516.57 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. The company had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. On average, analysts predict that Eli Lilly and Company will post 16.51 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

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.