Ameriprise Financial Inc. Lowers Holdings in Eli Lilly and Company $LLY

Key Points

• Ameriprise Financial Inc. reduced its holdings in Eli Lilly by 0.8%, owning 2,959,655 shares worth approximately $2.44 billion, making it the 20th largest position in their portfolio.
• Several large investors, including PNC Financial Services and GAMMA Investing, significantly increased their holdings in Eli Lilly during the first quarter, with some raising their positions by over 100,000%.
• Eli Lilly's shares reported a revenue increase of 37.6% year-over-year, with earnings per share surpassing expectations at $6.31, leading to a consensus price target of $950.17 among analysts.

Ameriprise Financial Inc. trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 0.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,959,655 shares of the company's stock after selling 24,016 shares during the period. Eli Lilly and Company makes up approximately 0.7% of Ameriprise Financial Inc.'s holdings, making the stock its 20th largest position. Ameriprise Financial Inc. owned approximately 0.31% of Eli Lilly and Company worth $2,444,458,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in LLY. PNC Financial Services Group Inc. lifted its holdings in shares of Eli Lilly and Company by 97.5% during the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock valued at $83,669,349,000 after purchasing an additional 50,002,551 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Eli Lilly and Company by 103,831.6% during the first 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 last quarter. Nuveen LLC purchased a new position in shares of Eli Lilly and Company during the first quarter valued at approximately $4,613,912,000. Vanguard Group Inc. lifted its stake in shares of Eli Lilly and Company by 6.7% in the first quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company's stock worth $65,432,218,000 after buying an additional 4,975,395 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Eli Lilly and Company by 14.6% during the fourth quarter. Northern Trust Corp now owns 9,448,219 shares of the company's stock valued at $7,294,025,000 after buying an additional 1,204,337 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on LLY. Daiwa Capital Markets downgraded shares of Eli Lilly and Company from an "outperform" rating to a "neutral" rating and set a $700.00 price target for the company. in a research report on Sunday. Daiwa America lowered Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a report on Sunday. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Leerink Partnrs cut Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating for the company in a report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Eli Lilly and Company presently has an average rating of "Moderate Buy" and a consensus price target of $950.17.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, Director Jamere Jackson purchased 200 shares of the company's stock in a transaction dated Friday, August 8th. The shares were acquired at an average price of $639.56 per share, for a total transaction of $127,912.00. Following the purchase, the director directly owned 9,402 shares of the company's stock, valued at $6,013,143.12. The trade was a 2.17% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel Skovronsky purchased 1,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were acquired at an average price of $634.40 per share, for a total transaction of $634,400.00. Following the purchase, the executive vice president directly owned 137,660 shares in the company, valued at approximately $87,331,504. The trade was a 0.73% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 4,514 shares of company stock worth $2,894,841. Insiders own 0.13% of the company's stock.

Eli Lilly and Company Stock Up 0.2%

Shares of Eli Lilly and Company stock opened at $704.7540 on Thursday. The company has a market cap of $667.02 billion, a price-to-earnings ratio of 46.06, a price-to-earnings-growth ratio of 0.98 and a beta of 0.44. The company's 50 day moving average is $758.91 and its 200 day moving average is $792.41. Eli Lilly and Company has a twelve month low of $623.78 and a twelve month high of $972.53. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, topping the consensus estimate of $5.59 by $0.72. The business had revenue of $15.56 billion for the quarter, compared to the consensus estimate of $14.40 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The company's quarterly revenue was up 37.6% on a year-over-year basis. During the same period last year, the firm earned $3.92 earnings per share. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is currently 39.22%.

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.

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