Eli Lilly and major shareholder Sells $14,156,500 in Stock (LLY)
Eli Lilly and (NYSE:LLY) major shareholder Lilly Endowment Inc sold 230,000 shares of the company’s stock on the open market in a transaction dated Friday, June 20th. The stock was sold at an average price of $61.55, for a total transaction of $14,156,500.00. Following the sale, the insider now directly owns 134,070,804 shares of the company’s stock, valued at approximately $8,252,057,986. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
LLY has been the subject of a number of recent research reports. Analysts at Morgan Stanley reiterated an “underweight” rating on shares of Eli Lilly and in a research note on Monday, June 2nd. They now have a $48.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Eli Lilly and in a research note on Friday, May 16th. They now have a $61.00 price target on the stock. Finally, analysts at Argus reiterated a “buy” rating on shares of Eli Lilly and in a research note on Tuesday, April 29th. They now have a $64.00 price target on the stock. Three analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $60.46.
Shares of Eli Lilly and (NYSE:LLY) traded up 0.06% during mid-day trading on Monday, hitting $62.07. The stock had a trading volume of 5,103,437 shares. Eli Lilly and has a 1-year low of $47.53 and a 1-year high of $62.14. The stock’s 50-day moving average is $59.40 and its 200-day moving average is $56.47. The company has a market cap of $66.582 billion and a P/E ratio of 17.34.
Eli Lilly and (NYSE:LLY) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.70 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.70. The company had revenue of $4.68 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. The company’s quarterly revenue was down 16.4% on a year-over-year basis. On average, analysts predict that Eli Lilly and will post $2.78 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Wednesday, August 13th.
Eli Lilly and Company discovers, develops, manufactures, and sells products, in one business segment, pharmaceutical products.