Bamco Inc. NY Cuts Stock Position in Eli Lilly and Company (NYSE:LLY)

Bamco Inc. NY decreased its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 13.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,000 shares of the company's stock after selling 3,000 shares during the quarter. Bamco Inc. NY's holdings in Eli Lilly and Company were worth $15,440,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in LLY. Vanguard Group Inc. increased its stake in Eli Lilly and Company by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company's stock worth $57,320,226,000 after buying an additional 475,530 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Eli Lilly and Company by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock worth $13,389,651,000 after purchasing an additional 291,875 shares in the last quarter. Wellington Management Group LLP raised its stake in Eli Lilly and Company by 19.0% during the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock valued at $9,747,214,000 after purchasing an additional 2,012,129 shares during the period. Norges Bank purchased a new position in Eli Lilly and Company in the 4th quarter worth approximately $8,407,908,000. Finally, Capital Research Global Investors boosted its stake in Eli Lilly and Company by 16.1% in the 4th quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock worth $8,304,811,000 after purchasing an additional 1,493,673 shares during the period. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Down 5.5 %

NYSE LLY traded down $45.20 on Tuesday, reaching $776.26. 5,961,205 shares of the stock traded hands, compared to its average volume of 3,485,577. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. The company has a market cap of $735.69 billion, a price-to-earnings ratio of 66.29, a PEG ratio of 1.40 and a beta of 0.48. The company has a fifty day moving average price of $820.91 and a 200-day moving average price of $814.03. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The firm had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. During the same quarter in the previous year, the firm earned $2.58 earnings per share. The business's revenue was up 45.2% compared to the same quarter last year. As a group, research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 annualized dividend and a dividend yield of 0.77%. Eli Lilly and Company's payout ratio is presently 48.82%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Guggenheim reissued a "buy" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Truist Financial increased their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Citigroup cut their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Hsbc Global Res downgraded Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Finally, Berenberg Bank set a $970.00 price target on Eli Lilly and Company in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $1,002.80.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the sale, the chief accounting officer now owns 5,840 shares of the company's stock, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Company Profile

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.