Insider Selling: Eli Lilly and Company (LLY) Major Shareholder Sells $17,855,750.00 in Stock

Eli Lilly and Company (NYSE:LLY) major shareholder Lilly Endowment Inc sold 215,000 shares of Eli Lilly and Company stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $83.05, for a total value of $17,855,750.00. Following the transaction, the insider now directly owns 124,475,804 shares of the company’s stock, valued at $10,337,715,522.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 Thursday, June 22nd, Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock. The stock was sold at an average price of $84.43, for a total value of $17,730,300.00.
  • On Thursday, March 30th, Lilly Endowment Inc sold 210,000 shares of Eli Lilly and Company stock. The stock was sold at an average price of $84.67, for a total value of $17,780,700.00.

Shares of Eli Lilly and Company (NYSE:LLY) opened at 83.89 on Monday. The stock has a market cap of $88.61 billion, a P/E ratio of 40.57 and a beta of 0.36. Eli Lilly and Company has a 12 month low of $64.18 and a 12 month high of $86.72. The stock has a 50 day moving average price of $80.12 and a 200-day moving average price of $79.31.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Tuesday, April 25th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.02. The company had revenue of $5.23 billion during the quarter, compared to analyst estimates of $5.22 billion. Eli Lilly and Company had a return on equity of 26.64% and a net margin of 10.13%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 earnings per share. On average, analysts forecast that Eli Lilly and Company will post $4.12 EPS for the current fiscal year.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Tuesday, August 15th will be issued a $0.52 dividend. The ex-dividend date is Friday, August 11th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.48%. Eli Lilly and Company’s payout ratio is currently 100.48%.

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LLY has been the subject of a number of analyst reports. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $92.00 price target on shares of Eli Lilly and Company in a report on Tuesday, May 16th. BMO Capital Markets set a $71.00 price target on Eli Lilly and Company and gave the stock a “sell” rating in a report on Tuesday, April 25th. Zacks Investment Research cut Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Tuesday, April 18th. Credit Suisse Group reissued an “outperform” rating and issued a $87.00 price target on shares of Eli Lilly and Company in a report on Wednesday, April 19th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $97.00 price target (up from $95.00) on shares of Eli Lilly and Company in a report on Saturday, March 11th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Eli Lilly and Company presently has a consensus rating of “Hold” and an average target price of $87.65.

Several hedge funds have recently added to or reduced their stakes in LLY. Nisa Investment Advisors LLC raised its stake in Eli Lilly and Company by 3.1% in the first quarter. Nisa Investment Advisors LLC now owns 324,377 shares of the company’s stock worth $27,280,000 after buying an additional 9,680 shares during the last quarter. Franklin Street Advisors Inc. NC acquired a new stake in Eli Lilly and Company during the first quarter worth about $320,000. Washington Trust Bank raised its stake in Eli Lilly and Company by 92.8% in the first quarter. Washington Trust Bank now owns 10,369 shares of the company’s stock worth $872,000 after buying an additional 4,990 shares during the last quarter. Independent Advisor Alliance acquired a new stake in Eli Lilly and Company during the fourth quarter worth about $1,547,000. Finally, Pinnacle Associates Ltd. raised its stake in Eli Lilly and Company by 16.6% in the fourth quarter. Pinnacle Associates Ltd. now owns 48,177 shares of the company’s stock worth $3,543,000 after buying an additional 6,873 shares during the last quarter. Institutional investors own 75.49% of the company’s stock.

About Eli Lilly and Company

Eli Lilly and Company is engaged in drug manufacturing business. The Company discovers, develops, manufactures and markets products in two segments: human pharmaceutical products and animal health products. The Company’s human pharmaceutical business segment sells medicines, which are discovered or developed by its scientists.

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