Bessemer Group Inc. Cuts Position in Eli Lilly and Company (NYSE:LLY)

Bessemer Group Inc. decreased its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 7.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 283,154 shares of the company's stock after selling 24,258 shares during the quarter. Bessemer Group Inc.'s holdings in Eli Lilly and Company were worth $233,860,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. FWG Holdings LLC lifted its position in shares of Eli Lilly and Company by 0.6% during the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company's stock valued at $1,640,000 after buying an additional 12 shares in the last quarter. Morling Financial Advisors LLC raised its position in Eli Lilly and Company by 4.7% during the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock worth $205,000 after acquiring an additional 12 shares during the period. Prestige Wealth Management Group LLC lifted its holdings in Eli Lilly and Company by 2.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company's stock valued at $468,000 after purchasing an additional 12 shares in the last quarter. Applied Finance Capital Management LLC grew its position in shares of Eli Lilly and Company by 1.4% in the fourth quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock valued at $660,000 after purchasing an additional 12 shares during the period. Finally, Garner Asset Management Corp increased its stake in shares of Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after purchasing an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Trading Down 2.4%

Shares of LLY stock traded down $18.94 during trading on Friday, hitting $776.18. 4,109,419 shares of the stock traded hands, compared to its average volume of 3,682,356. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The firm has a market capitalization of $735.61 billion, a P/E ratio of 63.16, a price-to-earnings-growth ratio of 1.16 and a beta of 0.40. The firm's fifty day moving average price is $781.50 and its 200-day moving average price is $800.11. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $12.77 billion. During the same period last year, the business earned $2.58 EPS. Eli Lilly and Company'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 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed 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 is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.77%. Eli Lilly and Company's dividend payout ratio (DPR) is currently 48.82%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LLY. Erste Group Bank lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their target price for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. Guggenheim reaffirmed 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. HSBC lowered 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 reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,011.61.

Eli Lilly and 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.