Central Pacific Bank Trust Division Makes New $9.19 Million Investment in Eli Lilly and Company (NYSE:LLY)

Central Pacific Bank Trust Division bought a new stake in Eli Lilly and Company (NYSE:LLYFree Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 12,089 shares of the company’s stock, valued at approximately $9,194,000. Eli Lilly and Company comprises approximately 1.1% of Central Pacific Bank Trust Division’s holdings, making the stock its 8th largest holding.

Several other hedge funds have also made changes to their positions in the business. Lipe & Dalton purchased a new position in Eli Lilly and Company during the 4th quarter worth $26,000. Tidemark LLC purchased a new position in Eli Lilly and Company during the fourth quarter worth about $29,000. Core Wealth Advisors Inc. raised its holdings in Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 32 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in Eli Lilly and Company in the fourth quarter valued at about $37,000. Finally, St. Johns Investment Management Company LLC boosted its holdings in Eli Lilly and Company by 123.3% in the 4th quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock valued at $39,000 after purchasing an additional 37 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Buying and Selling

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 92,563 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $809.21, for a total value of $74,902,905.23. Following the completion of the transaction, the insider now directly owns 98,556,247 shares in the company, valued at approximately $79,752,700,634.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 92,563 shares of Eli Lilly and Company stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $809.21, for a total value of $74,902,905.23. Following the completion of the sale, the insider now owns 98,556,247 shares in the company, valued at approximately $79,752,700,634.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Johna Norton sold 7,056 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the transaction, the executive vice president now owns 25,428 shares in the company, valued at $20,835,194.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,004,704 shares of company stock worth $869,479,116. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

LLY has been the subject of a number of analyst reports. Truist Financial reissued a “buy” rating and set a $1,000.00 target price (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. The Goldman Sachs Group raised their target price on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Argus boosted their target price on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. BMO Capital Markets reiterated an “outperform” rating and issued a $1,001.00 price target on shares of Eli Lilly and Company in a report on Wednesday, July 3rd. Finally, Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $816.78.

Check Out Our Latest Stock Report on LLY

Eli Lilly and Company Price Performance

Shares of NYSE LLY traded up $5.33 during trading on Wednesday, reaching $937.83. The company had a trading volume of 248,054 shares, compared to its average volume of 2,918,540. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. Eli Lilly and Company has a twelve month low of $434.34 and a twelve month high of $939.09. The stock has a 50-day moving average price of $838.34 and a two-hundred day moving average price of $757.52. The stock has a market capitalization of $891.32 billion, a PE ratio of 137.46, a price-to-earnings-growth ratio of 2.00 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLYGet Free Report) last announced its earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The firm had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. During the same quarter in the previous year, the company posted $1.62 EPS. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. As a group, sell-side analysts predict that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Eli Lilly and Company Company Profile

(Free Report)

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company 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; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.

Featured Stories

Want to see what other hedge funds are holding LLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eli Lilly and Company (NYSE:LLYFree Report).

Institutional Ownership by Quarter for Eli Lilly and Company (NYSE:LLY)

Receive News & Ratings for Eli Lilly and Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eli Lilly and Company and related companies with MarketBeat.com's FREE daily email newsletter.