Jacobs Levy Equity Management Inc. Sells 13,255 Shares of Eli Lilly and Company (NYSE:LLY)

Jacobs Levy Equity Management Inc. reduced its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 81.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,017 shares of the company's stock after selling 13,255 shares during the quarter. Jacobs Levy Equity Management Inc.'s holdings in Eli Lilly and Company were worth $2,329,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of LLY. Vanguard Group Inc. grew its holdings in shares of Eli Lilly and Company by 0.6% during the fourth 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 holdings 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 buying an additional 291,875 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Eli Lilly and Company by 19.0% during the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after buying an additional 2,012,129 shares in the last quarter. Norges Bank bought a new position in Eli Lilly and Company in the fourth quarter valued at approximately $8,407,908,000. Finally, Capital Research Global Investors grew its stake in Eli Lilly and Company by 16.1% in the fourth quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock valued at $8,304,811,000 after purchasing an additional 1,493,673 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Truist Financial raised their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their price objective for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. Guggenheim reaffirmed a "buy" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, Hsbc Global Res cut Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of "Moderate Buy" and an average target price of $1,011.37.

Eli Lilly and Company Price Performance

LLY stock traded up $23.94 during midday trading on Friday, reaching $757.23. 4,632,057 shares of the stock were exchanged, compared to its average volume of 3,599,113. The stock has a market capitalization of $717.65 billion, a PE ratio of 64.67, a P/E/G ratio of 1.40 and a beta of 0.48. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The company has a fifty day moving average price of $797.84 and a 200 day moving average price of $805.85.

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

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Friday, May 16th. Eli Lilly and Company's payout ratio is presently 48.82%.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the transaction, the chief accounting officer now directly owns 5,840 shares of the company's stock, valued at $4,778,521.60. The trade was a 14.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.13% of the company's stock.

About Eli Lilly and Company

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.