Eli Lilly and Company (NYSE:LLY) Shares Sold by Payden & Rygel

Payden & Rygel lowered its holdings in Eli Lilly and Company (NYSE:LLY) by 70.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,720 shares of the company’s stock after selling 74,610 shares during the quarter. Payden & Rygel’s holdings in Eli Lilly and Company were worth $14,407,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Fairfield Bush & CO. purchased a new stake in Eli Lilly and Company in the 1st quarter worth approximately $107,000. Roundview Capital LLC boosted its holdings in Eli Lilly and Company by 2.6% during the first quarter. Roundview Capital LLC now owns 2,056 shares of the company’s stock worth $589,000 after buying an additional 53 shares in the last quarter. Merit Financial Group LLC acquired a new stake in Eli Lilly and Company during the first quarter valued at $210,000. NewEdge Advisors LLC increased its holdings in Eli Lilly and Company by 9.9% in the first quarter. NewEdge Advisors LLC now owns 53,052 shares of the company’s stock valued at $15,193,000 after buying an additional 4,774 shares in the last quarter. Finally, Barometer Capital Management Inc. acquired a new position in shares of Eli Lilly and Company in the first quarter worth about $561,000. Hedge funds and other institutional investors own 81.38% of the company’s stock.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 1,307 shares of Eli Lilly and Company stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $555.69, for a total transaction of $726,286.83. Following the sale, the insider now owns 100,397,503 shares of the company’s stock, valued at approximately $55,789,888,442.07. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 1,307 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $555.69, for a total transaction of $726,286.83. Following the completion of the sale, the insider now owns 100,397,503 shares of the company’s stock, valued at $55,789,888,442.07. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Donald A. Zakrowski sold 600 shares of Eli Lilly and Company stock in a transaction on Monday, August 21st. The shares were sold at an average price of $546.51, for a total value of $327,906.00. Following the completion of the sale, the chief accounting officer now owns 5,378 shares in the company, valued at approximately $2,939,130.78. The disclosure for this sale can be found here. Insiders sold a total of 536,138 shares of company stock valued at $20,881,627,358 in the last 90 days. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on LLY. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, November 3rd. UBS Group reaffirmed a “buy” rating and set a $710.00 target price (up from $612.00) on shares of Eli Lilly and Company in a research note on Friday, October 20th. Truist Financial lifted their price target on shares of Eli Lilly and Company from $525.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Wells Fargo & Company upped their price objective on shares of Eli Lilly and Company from $615.00 to $650.00 and gave the stock an “overweight” rating in a research report on Monday, October 9th. Finally, Credit Suisse Group lifted their target price on shares of Eli Lilly and Company from $490.00 to $580.00 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $557.00.

Eli Lilly and Company Trading Up 0.5 %

Shares of LLY stock traded up $2.96 on Friday, hitting $591.71. 2,628,620 shares of the stock traded hands, compared to its average volume of 3,789,903. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.82 and a current ratio of 1.05. Eli Lilly and Company has a twelve month low of $309.20 and a twelve month high of $629.97. The firm’s 50-day moving average price is $577.98 and its two-hundred day moving average price is $509.40. The stock has a market capitalization of $561.72 billion, a PE ratio of 107.19, a PEG ratio of 3.57 and a beta of 0.33.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Wednesday, November 15th will be issued a $1.13 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $4.52 annualized dividend and a yield of 0.76%. Eli Lilly and Company’s payout ratio is 81.88%.

Eli Lilly and Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. It 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; and Jardiance, Trajenta, and Trulicity for type 2 diabetes.