Insider Selling: Eli Lilly and major shareholder Sells 250,000 Shares of Stock (LLY)
Eli Lilly and (NYSE:LLY) major shareholder Lilly Endowment Inc sold 250,000 shares of Eli Lilly and stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $63.03, for a total transaction of $15,757,500.00. Following the transaction, the insider now directly owns 133,340,804 shares of the company’s stock, valued at approximately $8,404,470,876. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Eli Lilly and (NYSE:LLY) traded down 0.22% on Wednesday, hitting $62.63. The stock had a trading volume of 2,519,817 shares. Eli Lilly and has a 1-year low of $47.53 and a 1-year high of $65.70. The stock has a 50-day moving average of $62.11 and a 200-day moving average of $58.87. The company has a market cap of $67.416 billion and a P/E ratio of 19.93. Eli Lilly and also was the target of a significant drop in short interest in July. As of July 15th, there was short interest totalling 19,160,146 shares, a drop of 11.4% from the June 30th total of 21,636,995 shares. Based on an average trading volume of 3,091,827 shares, the short-interest ratio is presently 6.2 days. Currently, 1.9% of the company’s stock are short sold.
Eli Lilly and (NYSE:LLY) last released its earnings data on Thursday, July 24th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.03. The company had revenue of $4.94 billion for the quarter, compared to the consensus estimate of $4.88 billion. During the same quarter in the previous year, the company posted $1.16 earnings per share. The company’s revenue for the quarter was down 16.8% 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 3.12%. The ex-dividend date of this dividend is Wednesday, August 13th.
LLY has been the subject of a number of recent research reports. Analysts at Argus raised their price target on shares of Eli Lilly and from $64.00 to $72.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Eli Lilly and in a research note on Friday, July 25th. They now have a $68.00 price target on the stock. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Eli Lilly and in a research note on Monday, July 14th. They now have a $65.00 price target on the stock, up previously from $60.00. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $62.92.
Eli Lilly and Company discovers, develops, manufactures, and sells products, in one business segment, pharmaceutical products.
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