KBC Group NV lessened its stake in shares of Eli Lilly and Company (NYSE:LLY – Free Report) by 5.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 544,998 shares of the company’s stock after selling 31,205 shares during the quarter. Eli Lilly and Company makes up 1.4% of KBC Group NV’s investment portfolio, making the stock its 12th biggest position. KBC Group NV’s holdings in Eli Lilly and Company were worth $653,687,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of Eli Lilly and Company in the 4th quarter worth approximately $12,976,634,000. J. Stern & Co. LLP increased its holdings in Eli Lilly and Company by 46,191.3% in the 4th quarter. J. Stern & Co. LLP now owns 4,047,245 shares of the company’s stock valued at $4,047,245,000 after purchasing an additional 4,038,502 shares during the last quarter. Cardano Risk Management B.V. increased its holdings in Eli Lilly and Company by 876.1% in the 4th quarter. Cardano Risk Management B.V. now owns 2,375,050 shares of the company’s stock valued at $2,552,419,000 after purchasing an additional 2,131,734 shares during the last quarter. Fifth Third Bancorp raised its position in Eli Lilly and Company by 321.3% in the first quarter. Fifth Third Bancorp now owns 1,963,490 shares of the company’s stock valued at $1,805,959,000 after purchasing an additional 1,497,423 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in Eli Lilly and Company by 10.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,910,505 shares of the company’s stock valued at $16,024,022,000 after purchasing an additional 1,432,069 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.
Eli Lilly and Company Stock Performance
Shares of LLY stock opened at $1,227.11 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.35 and a debt-to-equity ratio of 1.41. Eli Lilly and Company has a 52 week low of $685.15 and a 52 week high of $1,249.45. The stock has a market capitalization of $1.16 trillion, a PE ratio of 41.18, a P/E/G ratio of 1.39 and a beta of 0.51. The firm has a 50 day moving average of $1,173.20 and a two-hundred day moving average of $1,055.15.
Eli Lilly and Company Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be paid a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, August 14th. Eli Lilly and Company’s payout ratio is presently 23.22%.
Insiders Place Their Bets
In other news, CAO Donald A. Zakrowski sold 2,000 shares of Eli Lilly and Company stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $1,185.01, for a total value of $2,370,020.00. Following the completion of the transaction, the chief accounting officer owned 1,526 shares in the company, valued at approximately $1,808,325.26. This trade represents a 56.72% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Anat Hakim sold 5,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $1,190.00, for a total value of $5,950,000.00. Following the transaction, the executive vice president directly owned 11,875 shares of the company’s stock, valued at approximately $14,131,250. This represents a 29.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 13,500 shares of company stock worth $15,958,170 in the last quarter. 0.14% of the stock is owned by company insiders.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Bank of America raised their price target on Eli Lilly and Company from $1,251.00 to $1,334.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. BMO Capital Markets reiterated an “outperform” rating and issued a $1,400.00 price objective on shares of Eli Lilly and Company in a report on Thursday, August 6th. Leerink Partners increased their target price on Eli Lilly and Company from $1,119.00 to $1,232.00 and gave the stock an “outperform” rating in a research note on Thursday, June 25th. Cantor Fitzgerald raised their target price on Eli Lilly and Company from $1,350.00 to $1,410.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. lifted their target price on Eli Lilly and Company from $1,300.00 to $1,400.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus target price of $1,292.18.
Check Out Our Latest Research Report on Eli Lilly and Company
More Eli Lilly and Company News
Here are the key news stories impacting Eli Lilly and Company this week:
- Positive Sentiment: Weight-loss leadership remains a key catalyst. Eli Lilly was highlighted as an IBD Stock of the Day as its obesity-drug business gains ground on Novo Nordisk. Investor attention is also focused on the company’s next-generation obesity candidate retatrutide following encouraging trial-related developments. Eli Lilly, Stock Of The Day, Is Erasing Novo’s Early Lead In Weight-Loss Pills
- Positive Sentiment: Recent quarterly results support the bullish outlook. Lilly’s latest reported quarter substantially exceeded earnings and revenue expectations, with revenue up 47.7% year over year. Analysts cited GLP-1 momentum, a broad pipeline and strong operating growth as reasons for continued long-term momentum. LLY Up Around 6% Post Robust Q2 Results
- Positive Sentiment: Pipeline expansion continued through partnerships. Lilly signed a global collaboration and licensing agreement with OmniAb for an ion-channel drug-discovery program, potentially providing access to new medicines. It also made a $10 million upfront payment to AlzeCure for rights connected to small-molecule CNS treatments, including Alzheimer’s and pain candidates. OmniAb Enters Collaboration and License Agreement with Eli Lilly
- Neutral Sentiment: International execution is progressing. Lilly appointed Tayllit Aherdan to lead operations in the United Arab Emirates, Qatar and Kuwait, supporting its commercial expansion in the Middle East. Lilly Appoints Tayllit Aherdan
- Negative Sentiment: Valuation and competition remain risks. Analysts noted that Lilly’s premium valuation leaves less room for execution misses, while competition, pricing pressure and future obesity-drug rivals could moderate upside.
- Negative Sentiment: An executive sale adds a minor sentiment headwind. EVP Patrik Jonsson sold 6,500 shares worth approximately $7.6 million. However, the transaction was made under a pre-arranged Rule 10b5-1 plan, reducing its significance as a discretionary bearish signal. SEC Insider Transaction Filing
About Eli Lilly and Company
Eli Lilly and Company (NYSE: LLY) is a global pharmaceutical company founded in 1876 and headquartered in Indianapolis, Indiana. The company researches, develops, manufactures and commercializes a broad range of medicines and therapies for patients worldwide. Eli Lilly maintains operations and commercial presence across North America, Europe, Asia and other regions, serving both developed and emerging markets. The company has been led in recent years by President and Chief Executive Officer David A.
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