Raymond James Financial Inc. Sells 135,846 Shares of Eli Lilly and Company (NYSE:LLY)

Key Points

• Raymond James Financial Inc. reduced its holdings in Eli Lilly and Company by 8.5%, selling 135,846 shares, and now owns approximately 1,471,216 shares valued at $1.21 billion.
• Insider transactions include Director J Erik Fyrwald purchasing 1,565 shares at an average price of $642.33, increasing his ownership by 2.14%.
• Several research firms have adjusted their target prices for Eli Lilly, with UBS lowering its target from $1,050 to $895 while still maintaining a "buy" rating.

Raymond James Financial Inc. cut its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 8.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,471,216 shares of the company's stock after selling 135,846 shares during the quarter. Raymond James Financial Inc. owned approximately 0.16% of Eli Lilly and Company worth $1,215,092,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LLY. Brighton Jones LLC lifted its stake in Eli Lilly and Company by 22.0% in the 4th quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock valued at $7,409,000 after purchasing an additional 1,730 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Eli Lilly and Company by 2.8% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock worth $1,136,000 after buying an additional 40 shares during the last quarter. Orion Capital Management LLC increased its holdings in Eli Lilly and Company by 2.5% in the 4th quarter. Orion Capital Management LLC now owns 1,610 shares of the company's stock worth $1,243,000 after purchasing an additional 40 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in Eli Lilly and Company by 4.1% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 64,758 shares of the company's stock valued at $49,993,000 after purchasing an additional 2,568 shares during the last quarter. Finally, Breed s Hill Capital LLC increased its stake in shares of Eli Lilly and Company by 212.0% in the fourth quarter. Breed s Hill Capital LLC now owns 1,426 shares of the company's stock valued at $1,101,000 after buying an additional 969 shares during the period. Institutional investors own 82.53% of the company's stock.

Insider Buying and Selling at Eli Lilly and Company

In other news, Director J Erik Fyrwald purchased 1,565 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average cost of $642.33 per share, for a total transaction of $1,005,246.45. Following the completion of the acquisition, the director owned 74,578 shares in the company, valued at $47,903,686.74. This trade represents a 2.14% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gabrielle Sulzberger bought 117 shares of Eli Lilly and Company stock in a transaction dated Tuesday, August 12th. The stock was acquired at an average cost of $641.18 per share, with a total value of $75,018.06. Following the completion of the acquisition, the director owned 2,703 shares of the company's stock, valued at $1,733,109.54. This represents a 4.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 4,514 shares of company stock worth $2,894,841. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on LLY. UBS Group reduced their target price on shares of 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. Cantor Fitzgerald reduced their price target on Eli Lilly and Company from $975.00 to $825.00 and set an "overweight" rating on the stock in a research report on Wednesday. Hsbc Global Res downgraded Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. DZ Bank upgraded Eli Lilly and Company from a "hold" rating to a "strong-buy" rating in a report on Thursday. Finally, Wall Street Zen upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $964.88.

Eli Lilly and Company Stock Performance

LLY opened at $701.51 on Friday. The company has a market cap of $663.95 billion, a price-to-earnings ratio of 45.85, a PEG ratio of 0.95 and a beta of 0.44. The company's fifty day moving average price is $764.55 and its two-hundred day moving average price is $794.69. Eli Lilly and Company has a 1-year low of $623.78 and a 1-year high of $972.53. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, beating the consensus estimate of $5.59 by $0.72. The business had revenue of $15.56 billion for the quarter, compared to analysts' expectations of $14.40 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The firm's revenue for the quarter was up 37.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.92 EPS. On average, analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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

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.

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