Carmignac Gestion Sells 53,558 Shares of Eli Lilly and Company $LLY

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Carmignac Gestion trimmed its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 35.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,912 shares of the company's stock after selling 53,558 shares during the quarter. Eli Lilly and Company makes up about 1.3% of Carmignac Gestion's portfolio, making the stock its 25th biggest holding. Carmignac Gestion's holdings in Eli Lilly and Company were worth $80,850,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. WestEnd Advisors LLC grew its position in shares of Eli Lilly and Company by 210.0% in the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after buying an additional 21 shares during the last quarter. Citizens National Bank Trust Department boosted its position in shares of Eli Lilly and Company by 180.0% during the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after purchasing an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new position in Eli Lilly and Company during the 1st quarter worth approximately $40,000. Mascagni Wealth Management Inc. acquired a new position in Eli Lilly and Company during the 4th quarter worth approximately $43,000. Finally, O Brien Wealth Partners LLC raised its stake in shares of Eli Lilly and Company by 25.5% in the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock worth $49,000 after purchasing an additional 12 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Gabrielle Sulzberger acquired 117 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was acquired at an average cost of $641.18 per share, with a total value of $75,018.06. Following the acquisition, the director owned 2,703 shares in the company, valued at approximately $1,733,109.54. This represents a 4.52% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David A. Ricks bought 1,632 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were bought at an average price of $644.77 per share, with a total value of $1,052,264.64. Following the completion of the purchase, the chief executive officer owned 546,601 shares in the company, valued at approximately $352,431,926.77. The trade was a 0.30% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 4,514 shares of company stock worth $2,894,841. Company insiders own 0.14% of the company's stock.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $698.89 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. The company has a market cap of $661.47 billion, a P/E ratio of 45.68, a P/E/G ratio of 0.98 and a beta of 0.44. Eli Lilly and Company has a fifty-two week low of $623.78 and a fifty-two week high of $972.53. The firm's 50 day moving average is $763.06 and its two-hundred day moving average is $793.64.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings data 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. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The company had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.40 billion. During the same period last year, the business earned $3.92 EPS. The firm's revenue for the quarter was up 37.6% compared to the same quarter last year. Analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced 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. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is presently 39.22%.

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of research analyst reports. UBS Group decreased their price target on Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Leerink Partners reaffirmed a "market perform" rating and issued a $715.00 price target on shares of Eli Lilly and Company in a report on Thursday, August 7th. DZ Bank upgraded Eli Lilly and Company from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. Cantor Fitzgerald decreased their price objective on Eli Lilly and Company from $975.00 to $825.00 and set an "overweight" rating on the stock in a report on Wednesday, August 13th. Finally, HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their price objective for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $950.17.

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.

Want to see what other hedge funds are holding LLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eli Lilly and Company (NYSE:LLY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.