3Chopt Investment Partners LLC Sells 565 Shares of Eli Lilly and Company (NYSE:LLY)

3Chopt Investment Partners LLC decreased its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 11.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,367 shares of the company's stock after selling 565 shares during the quarter. Eli Lilly and Company accounts for approximately 0.9% of 3Chopt Investment Partners LLC's holdings, making the stock its 22nd largest holding. 3Chopt Investment Partners LLC's holdings in Eli Lilly and Company were worth $3,607,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of 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 valued at $57,320,226,000 after purchasing an additional 475,530 shares during the period. Geode Capital Management LLC raised its stake in shares of Eli Lilly and Company by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock valued at $13,389,651,000 after purchasing an additional 291,875 shares during the period. GAMMA Investing LLC raised its stake in shares of Eli Lilly and Company by 103,831.6% in the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock valued at $12,278,292,000 after purchasing an additional 14,852,076 shares during the period. Wellington Management Group LLP raised its stake in shares of Eli Lilly and Company by 19.0% in 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. Finally, Norges Bank acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at about $8,407,908,000. Institutional investors and hedge funds own 82.53% of the company's stock.

Wall Street Analysts Forecast Growth

LLY has been the topic of several recent research reports. Guggenheim reissued a "buy" rating and issued a $936.00 price target on shares of Eli Lilly and Company in a research note on Friday, June 20th. Erste Group Bank cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased 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 decreased their price objective for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. Finally, Morgan Stanley restated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $1,011.61.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock traded down $18.94 during midday trading on Friday, reaching $776.18. 4,109,419 shares of the company's stock were exchanged, compared to its average volume of 3,683,590. 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 2.18, a quick ratio of 1.06 and a current ratio of 1.37. The firm has a market cap of $735.61 billion, a price-to-earnings ratio of 63.16, a P/E/G ratio of 1.13 and a beta of 0.40. The stock's 50-day simple moving average is $780.19 and its 200 day simple moving average is $799.96.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The business had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same quarter in the previous year, the business posted $2.58 EPS. The company's revenue for the quarter was up 45.2% on a year-over-year basis. On average, analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is currently 48.82%.

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.