DnB Asset Management AS Sells 8,586 Shares of Eli Lilly and Company $LLY

Key Points

• DnB Asset Management AS reduced its stake in Eli Lilly and Company ($LLY) by selling 8,586 shares, bringing its total ownership to 324,422 shares, valued at approximately $267.94 million.
• Several institutional investors have increased their holdings, with Duquesne Family Office LLC boosting its stake by 52.5% and EFG Asset Management North America Corp. increasing its position by 249.6%.
• Eli Lilly reported strong financial results for the last quarter, beating earnings estimates with an EPS of $6.31 and a revenue of $15.56 billion, up 37.6% year-over-year.

DnB Asset Management AS reduced its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 2.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324,422 shares of the company's stock after selling 8,586 shares during the period. Eli Lilly and Company accounts for 1.2% of DnB Asset Management AS's portfolio, making the stock its 11th largest position. DnB Asset Management AS's holdings in Eli Lilly and Company were worth $267,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. WestEnd Advisors LLC raised its stake in Eli Lilly and Company by 210.0% in the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after buying an additional 21 shares in the last quarter. Wealth Preservation Advisors LLC bought a new position in Eli Lilly and Company in the first quarter worth about $27,000. Citizens National Bank Trust Department raised its stake in Eli Lilly and Company by 180.0% in the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after buying an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new stake in shares of Eli Lilly and Company during the 1st quarter valued at $40,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of Eli Lilly and Company during the 4th quarter valued at $43,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Down 2.2%

NYSE:LLY traded down $16.56 on Friday, reaching $726.35. 3,953,474 shares of the stock traded hands, compared to its average volume of 5,282,453. The company has a market capitalization of $687.46 billion, a price-to-earnings ratio of 47.47, a PEG ratio of 1.01 and a beta of 0.47. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. Eli Lilly and Company has a 12 month low of $623.78 and a 12 month high of $942.35. The company's fifty day simple moving average is $743.84 and its 200 day simple moving average is $781.22.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released 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 business had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.40 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. Eli Lilly and Company's revenue was up 37.6% compared to the same quarter last year. During the same period last year, the business earned $3.92 EPS. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Equities analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders 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 0.8%. Eli Lilly and Company's dividend payout ratio (DPR) is presently 39.22%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Guggenheim dropped their target price on shares of Eli Lilly and Company from $942.00 to $875.00 and set a "buy" rating on the stock in a report on Wednesday, August 13th. Daiwa America lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research note on Sunday, August 17th. Leerink Partnrs lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. HSBC raised shares of Eli Lilly and Company from a "reduce" rating to a "hold" rating and boosted their price objective for the stock from $675.00 to $700.00 in a research note on Wednesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $950.17.

Insiders Place Their Bets

In other Eli Lilly and Company news, Director Jamere Jackson bought 200 shares of Eli Lilly and Company stock in a transaction on Friday, August 8th. The stock was acquired at an average price of $639.56 per share, with a total value of $127,912.00. Following the acquisition, the director owned 9,402 shares in the company, valued at approximately $6,013,143.12. This trade represents a 2.17% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel Skovronsky bought 1,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were bought 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. This trade represents a 0.73% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 4,514 shares of company stock worth $2,894,841. 0.13% of the stock is owned by corporate insiders.

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.