Eli Lilly and Company $LLY is Bowen Hanes & Co. Inc.'s 4th Largest Position

Key Points

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Bowen Hanes & Co. Inc. reduced its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 0.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 128,055 shares of the company's stock after selling 495 shares during the period. Eli Lilly and Company makes up approximately 2.9% of Bowen Hanes & Co. Inc.'s portfolio, making the stock its 4th largest position. Bowen Hanes & Co. Inc.'s holdings in Eli Lilly and Company were worth $105,762,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in LLY. Knightsbridge Asset Management LLC increased its holdings in Eli Lilly and Company by 1.9% in the fourth quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock valued at $628,000 after buying an additional 15 shares in the last quarter. Corient IA LLC acquired a new stake in shares of Eli Lilly and Company in the first quarter valued at approximately $570,000. LS Investment Advisors LLC grew its position in shares of Eli Lilly and Company by 1.7% in the first quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock valued at $1,933,000 after purchasing an additional 40 shares during the last quarter. Prism Advisors Inc. acquired a new stake in shares of Eli Lilly and Company in the first quarter valued at approximately $207,000. Finally, CSM Advisors LLC grew its position in shares of Eli Lilly and Company by 30.6% in the fourth quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock valued at $807,000 after purchasing an additional 245 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LLY has been the topic of several research reports. Daiwa America lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research report on Sunday. Leerink Partnrs lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. Daiwa Capital Markets lowered shares of Eli Lilly and Company from an "outperform" rating to a "neutral" rating and set a $700.00 target price on the stock. in a research report on Sunday. Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, Guggenheim decreased their price target 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $950.17.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $698.89 on Tuesday. Eli Lilly and Company has a 12 month low of $623.78 and a 12 month high of $972.53. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00. The firm has a market capitalization 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. The company's fifty day moving average price is $763.06 and its two-hundred day moving average price is $793.64.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $6.31 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.40 billion. During the same quarter in the previous year, the business posted $3.92 EPS. The firm's revenue was up 37.6% compared to the same quarter last year. On average, research analysts anticipate 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 announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid 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 dividend payout ratio is 39.22%.

Insiders Place Their Bets

In related news, EVP Daniel Skovronsky bought 1,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were acquired at an average price of $634.40 per share, for a total transaction of $634,400.00. Following the purchase, the executive vice president owned 137,660 shares in the company, valued at $87,331,504. This trade represents a 0.73% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jamere Jackson bought 200 shares of the business's stock in a transaction dated Friday, August 8th. The stock was bought at an average price of $639.56 per share, for a total transaction of $127,912.00. Following the purchase, the director owned 9,402 shares in the company, valued at approximately $6,013,143.12. This represents a 2.17% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 4,514 shares of company stock worth $2,894,841. Company insiders own 0.14% of the company's stock.

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.

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