Eli Lilly and Company $LLY Holdings Trimmed by MIG Capital LLC

Key Points

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MIG Capital LLC trimmed its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 15.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,811 shares of the company's stock after selling 10,125 shares during the period. Eli Lilly and Company makes up about 5.7% of MIG Capital LLC's holdings, making the stock its 6th biggest position. MIG Capital LLC's holdings in Eli Lilly and Company were worth $46,095,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in Eli Lilly and Company by 22.0% in the fourth quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock valued at $7,409,000 after acquiring an additional 1,730 shares during the period. Revolve Wealth Partners LLC lifted its holdings in Eli Lilly and Company by 2.8% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock valued at $1,136,000 after acquiring an additional 40 shares during the period. Orion Capital Management LLC lifted its holdings in Eli Lilly and Company by 2.5% in the fourth quarter. Orion Capital Management LLC now owns 1,610 shares of the company's stock valued at $1,243,000 after acquiring an additional 40 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in Eli Lilly and Company by 4.1% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 64,758 shares of the company's stock valued at $49,993,000 after acquiring an additional 2,568 shares during the period. Finally, Breed s Hill Capital LLC lifted its holdings in Eli Lilly and Company by 212.0% in the fourth quarter. Breed s Hill Capital LLC now owns 1,426 shares of the company's stock valued at $1,101,000 after acquiring an additional 969 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on LLY shares. Leerink Partners reissued a "market perform" rating and issued a $715.00 target price on shares of Eli Lilly and Company in a report on Thursday, August 7th. UBS Group dropped 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. Cantor Fitzgerald dropped their price target on Eli Lilly and Company from $975.00 to $825.00 and set an "overweight" rating for the company in a research report on Wednesday, August 13th. Deutsche Bank Aktiengesellschaft dropped their price target on Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating for the company in a research report on Monday, August 11th. Finally, Wall Street Zen upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $950.17.

Eli Lilly and Company Stock Down 0.3%

Shares of NYSE:LLY opened at $698.89 on Tuesday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28. Eli Lilly and Company has a 1 year low of $623.78 and a 1 year high of $972.53. The stock has a market capitalization of $661.47 billion, a P/E ratio of 45.68, a PEG ratio of 0.98 and a beta of 0.44. The stock has a 50-day simple moving average of $763.06 and a 200-day simple moving average of $793.64.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.59 by $0.72. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%. The business had revenue of $15.56 billion during the quarter, compared to analysts' expectations of $14.40 billion. During the same quarter in the previous year, the business earned $3.92 EPS. The company's revenue for the quarter was up 37.6% on a year-over-year basis. Equities analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.9%. Eli Lilly and Company's payout ratio is 39.22%.

Insider Activity

In related news, Director Gabrielle Sulzberger purchased 117 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, August 12th. The shares were purchased at an average cost of $641.18 per share, with a total value of $75,018.06. Following the transaction, the director owned 2,703 shares of the company's stock, valued at approximately $1,733,109.54. The trade was a 4.52% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Daniel Skovronsky purchased 1,000 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, August 12th. The shares were bought at an average cost of $634.40 per share, for a total transaction of $634,400.00. Following the completion of the transaction, the executive vice president directly owned 137,660 shares in the company, valued at $87,331,504. This represents a 0.73% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 4,514 shares of company stock worth $2,894,841 in the last ninety days. 0.14% of the stock is currently owned by company insiders.

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.

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