Rhenman & Partners Asset Management AB Trims Position in Eli Lilly and Company (NYSE:LLY)

Rhenman & Partners Asset Management AB lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 23.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 81,000 shares of the company’s stock after selling 24,700 shares during the quarter. Eli Lilly and Company makes up approximately 4.0% of Rhenman & Partners Asset Management AB’s portfolio, making the stock its biggest position. Rhenman & Partners Asset Management AB’s holdings in Eli Lilly and Company were worth $37,987,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LLY. WestHill Financial Advisors Inc. bought a new position in Eli Lilly and Company in the 2nd quarter worth $233,000. D.A. Davidson & CO. increased its stake in shares of Eli Lilly and Company by 6.3% during the second quarter. D.A. Davidson & CO. now owns 39,554 shares of the company’s stock valued at $18,550,000 after purchasing an additional 2,357 shares in the last quarter. OPTIMAS CAPITAL Ltd increased its stake in shares of Eli Lilly and Company by 72.0% during the second quarter. OPTIMAS CAPITAL Ltd now owns 17,387 shares of the company’s stock valued at $8,154,000 after purchasing an additional 7,281 shares in the last quarter. Penserra Capital Management LLC increased its stake in shares of Eli Lilly and Company by 9,738.5% during the second quarter. Penserra Capital Management LLC now owns 5,116 shares of the company’s stock valued at $2,398,000 after purchasing an additional 5,064 shares in the last quarter. Finally, MetLife Investment Management LLC increased its stake in shares of Eli Lilly and Company by 1.9% during the second quarter. MetLife Investment Management LLC now owns 236,413 shares of the company’s stock valued at $110,873,000 after purchasing an additional 4,370 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 1,307 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $555.69, for a total value of $726,286.83. Following the completion of the sale, the insider now directly 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 is available through this link. In other news, CAO Donald A. Zakrowski sold 670 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $571.10, for a total value of $382,637.00. Following the completion of the sale, the chief accounting officer now owns 4,708 shares of the company’s stock, valued at approximately $2,688,738.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Lilly Endowment Inc sold 1,307 shares of the company’s stock in a transaction that occurred 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 directly owns 100,397,503 shares of the company’s stock, valued at approximately $55,789,888,442.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 535,538 shares of company stock worth $20,881,299,452. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

LLY has been the subject of several analyst reports. Morgan Stanley raised their price target on shares of Eli Lilly and Company from $673.00 to $722.00 and gave the company an “overweight” rating in a research report on Friday, November 3rd. Truist Financial lifted their target price on shares of Eli Lilly and Company from $525.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. The Goldman Sachs Group lifted their target price on shares of Eli Lilly and Company from $385.00 to $470.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 9th. Citigroup lifted their target price on shares of Eli Lilly and Company from $525.00 to $675.00 and gave the stock a “buy” rating in a research report on Monday, October 23rd. Finally, StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, November 3rd. One 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’s stock. According to MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus target price of $557.00.

Eli Lilly and Company Price Performance

NYSE LLY traded down $2.49 on Tuesday, reaching $595.11. The company had a trading volume of 716,505 shares, compared to its average volume of 3,092,590. The company has a quick ratio of 0.82, a current ratio of 1.05 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $564.94 billion, a PE ratio of 108.30, a price-to-earnings-growth ratio of 3.57 and a beta of 0.33. The firm’s 50 day moving average price is $578.02 and its 200 day moving average price is $511.14. Eli Lilly and Company has a 12 month low of $309.20 and a 12 month high of $629.97.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Wednesday, November 15th will be issued a dividend of $1.13 per share. The ex-dividend date 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.