AMF Tjanstepension AB Decreases Holdings in Eli Lilly and Company (NYSE:LLY)

AMF Tjanstepension AB cut its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 2.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 363,280 shares of the company's stock after selling 9,653 shares during the period. Eli Lilly and Company comprises approximately 2.2% of AMF Tjanstepension AB's holdings, making the stock its 12th largest position. AMF Tjanstepension AB's holdings in Eli Lilly and Company were worth $300,080,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in LLY. Garner Asset Management Corp raised its stake in Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company's stock valued at $411,000 after buying an additional 12 shares during the last quarter. Brighton Jones LLC increased its stake in shares of Eli Lilly and Company by 22.0% in the 4th quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock worth $7,409,000 after purchasing an additional 1,730 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Eli Lilly and Company by 2.8% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock worth $1,136,000 after purchasing an additional 40 shares in the last quarter. Orion Capital Management LLC increased its stake in shares of Eli Lilly and Company by 2.5% in the 4th quarter. Orion Capital Management LLC now owns 1,610 shares of the company's stock worth $1,243,000 after purchasing an additional 40 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG increased its stake in shares of Eli Lilly and Company by 4.1% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 64,758 shares of the company's stock worth $49,993,000 after purchasing an additional 2,568 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Down 14.2%

Shares of Eli Lilly and Company stock opened at $640.17 on Friday. The firm has a market cap of $606.71 billion, a price-to-earnings ratio of 52.09, a PEG ratio of 1.06 and a beta of 0.44. The business has a 50-day moving average price of $776.36 and a 200-day moving average price of $799.60. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18. Eli Lilly and Company has a twelve month low of $633.20 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, beating analysts' consensus estimates of $5.59 by $0.72. The firm had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.40 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The business's quarterly revenue was up 37.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.92 earnings per share. Equities research analysts anticipate 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 Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.9%. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. HSBC lowered Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their price objective for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Cantor Fitzgerald assumed coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price objective for the company. Morgan Stanley restated an "overweight" rating and issued a $1,135.00 price objective (up from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. UBS Group reduced their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and a consensus target price of $999.50.

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.

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