Brooktree Capital Management Trims Stock Position in Eli Lilly and Company (NYSE:LLY)

Brooktree Capital Management reduced its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 41.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,464 shares of the company's stock after selling 1,721 shares during the period. Eli Lilly and Company comprises approximately 1.7% of Brooktree Capital Management's holdings, making the stock its 12th largest position. Brooktree Capital Management's holdings in Eli Lilly and Company were worth $2,035,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased 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 worth $13,389,651,000 after purchasing an additional 291,875 shares in the last quarter. GAMMA Investing LLC increased 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 worth $12,278,292,000 after purchasing an additional 14,852,076 shares in the last quarter. Wellington Management Group LLP increased 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 worth $9,747,214,000 after purchasing an additional 2,012,129 shares in the last quarter. Norges Bank purchased a new stake in shares of Eli Lilly and Company in the 4th quarter worth $8,407,908,000. Finally, Capital Research Global Investors increased its stake in shares of Eli Lilly and Company by 16.1% in the 4th quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock worth $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 hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on LLY shares. The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Morgan Stanley reaffirmed an "overweight" rating and issued a $1,135.00 target price (up previously from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. Erste Group Bank downgraded shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Finally, UBS Group dropped their price objective on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,012.56.

Eli Lilly and Company Trading Up 0.7%

NYSE LLY traded up $5.85 during trading on Thursday, hitting $804.74. The stock had a trading volume of 2,784,411 shares, compared to its average volume of 2,826,876. 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 stock has a market capitalization of $762.69 billion, a price-to-earnings ratio of 58.06, a P/E/G ratio of 1.16 and a beta of 0.40. Eli Lilly and Company has a one year low of $677.09 and a one year high of $972.53. The stock has a 50 day simple moving average of $769.41 and a 200 day simple moving average of $799.86.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The firm's revenue for the quarter was up 45.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.58 EPS. Sell-side analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

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.