Shares of Eli Lilly and Company (NYSE:LLY) sold by Argus Investors Counsel Inc.

VaselineAugust 19, 2024

0 4 minutes read

Eli Lilly and Company logo Argus Investors Counsel Inc. lessened its position in Eli Lilly and Company (NYSE:LLY – Free Report) by 19.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,126 shares of the company’s stock after selling 1,455 shares during the period. Eli Lilly and Company makes up about 7.0% of Argus Investors Counsel Inc.’s investment portfolio, making the stock its biggest holding. The holdings of Argus Investors Counsel Inc. in Eli Lilly and Company were worth $5,547,000 at the end of the most recent reporting period.

Other large investors have recently modified their positions in the company. Independent Advisor Alliance lifted its position in Eli Lilly and Company by 1.7% in the fourth quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock valued at $18,810,000 after acquiring an additional 544 shares during the last quarter. Apexium Financial LP grew its position in Eli Lilly and Company by 1,819.1% in the fourth quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock valued at $6,667,000 after acquiring an additional 10,842 shares during the last quarter. Terrill Brothers Inc. lifted its position in Eli Lilly and Company by 113.2% in the 4th quarter. Terrill Brothers Inc. now owns 808 shares of the company’s stock valued at $471,000 after acquiring an additional 429 shares during the last quarter. Capital Planning LLC bought a new position in Eli Lilly and Company in the first quarter valued at approximately $262,000. Finally, Hartline Investment Corp lifted its position in shares of Eli Lilly and Company by 1.1% during the 4th quarter. Hartline Investment Corp now owns 21,934 shares of the company’s stock worth $12,786,000 after bought an additional 248 shares in the last quarter. 82.53% of the shares are currently owned by institutional investors and hedge funds.

Eli Lilly and the Company’s Price Performance

Shares of LLY traded down $2.47 during midday trading on Monday, hitting $919.65. 803,238 shares of the stock traded hands, compared to its average volume of 3,083,729. The firm has a fifty day moving average price of $878.93 and a 200 day moving average price of $806.28. The company has a market cap of $874.04 billion, a price-to-earnings ratio of 135.44, a price-to-earnings-growth ratio of 1.81 and a beta of 0.41. The company has a current ratio of 1.35, a quick ratio of 1.03, and a debt-to-equity ratio of 1.90. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $966.10.

Eli Lilly and Company announces dividend

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The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15. This represents a dividend of $5.20 on an annualized basis and a dividend yield of 0.57%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Analysts set new price targets

LLY has been the subject of several recent analyst reports. Jefferies Financial Group raised their target price on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, August 5th. Truist Financial reissued a “buy” rating and set a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Guggenheim raised their target price on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a report on Friday. Finally, Berenberg Bank lifted their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $956.88, based on data from MarketBeat.com.

Get the latest stock analysis on LLY

Indoor activity

In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value of $197,362,200.00. Following the completion of the transaction, the insider now directly owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. In related news, major shareholder Lilly Endowment Inc sold 210,000 shares of the business’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total value of $197,362,200.00. Following the completion of the transaction, the insider now directly owns 96,943,810 shares in the company, valued at $91,109,731,514.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. Also, EVP Johna Norton sold 7,056 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the completion of the transaction, the executive vice president now owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The disclosure for this sale can be found here. Insiders have sold 1,214,704 shares of company stock worth $1,066,841,316 over the last three months. Corporate insiders own 0.13% of the company’s shares.

About Eli Lilly and Company

(Free report)

Eli Lilly and Company discovers, develops and markets human pharmaceutical products 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.