Eli Lilly and Company (NYSE:LLY) Shares Sold by State Farm Mutual Automobile Insurance Co.

State Farm Mutual Automobile Insurance Co. lessened its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 0.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 12,526,229 shares of the company's stock after selling 119,909 shares during the period. Eli Lilly and Company makes up about 9.5% of State Farm Mutual Automobile Insurance Co.'s holdings, making the stock its largest position. State Farm Mutual Automobile Insurance Co. owned 1.32% of Eli Lilly and Company worth $10,345,538,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. WestEnd Advisors LLC boosted its position in shares of Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after buying an additional 21 shares during the last quarter. Citizens National Bank Trust Department boosted its position in shares of Eli Lilly and Company by 180.0% during the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after buying an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new position in shares of Eli Lilly and Company during the first quarter valued at approximately $40,000. Mascagni Wealth Management Inc. purchased a new position in shares of Eli Lilly and Company during the fourth quarter valued at approximately $43,000. Finally, O Brien Wealth Partners LLC boosted its position in shares of Eli Lilly and Company by 25.5% during the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock valued at $49,000 after buying an additional 12 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CEO David A. Ricks bought 1,632 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, August 12th. The stock was acquired at an average cost of $644.77 per share, for a total transaction of $1,052,264.64. Following the completion of the transaction, the chief executive officer directly owned 546,601 shares in the company, valued at $352,431,926.77. This represents a 0.30% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Daniel Skovronsky bought 1,000 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average price of $634.40 per share, with a total value of $634,400.00. Following the completion of the transaction, the executive vice president owned 137,660 shares of the company's stock, valued at $87,331,504. This represents a 0.73% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 4,514 shares of company stock valued at $2,894,841 over the last 90 days. Insiders own 0.13% of the company's stock.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $685.27 on Friday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28. Eli Lilly and Company has a 52-week low of $623.78 and a 52-week high of $972.53. The firm has a market cap of $648.58 billion, a price-to-earnings ratio of 44.79, a PEG ratio of 0.93 and a beta of 0.44. The business's fifty day moving average is $765.92 and its 200 day moving average is $795.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.59 by $0.72. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%. The company had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.40 billion. During the same period in the previous year, the company posted $3.92 EPS. The firm's revenue for the quarter was up 37.6% compared to the same quarter last year. Research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is presently 39.22%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their target price for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. Cantor Fitzgerald set a $825.00 price target on Eli Lilly and Company and gave the stock an "overweight" rating in a report on Wednesday. Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Hsbc Global Res lowered Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. Finally, UBS Group dropped their price target on Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating on the stock in a report on Friday, August 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $964.88.

About Eli Lilly and Company

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.

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