First Manhattan CO. LLC. Sells 2,382 Shares of Eli Lilly and Company $LLY

Key Points

• First Manhattan CO. LLC. has reduced its stake in Eli Lilly and Company by 4.1%, selling 2,382 shares and leaving it with 55,817 shares valued at $46.1 million.
• Eli Lilly reported strong earnings for the quarter, with an EPS of $6.31 and revenue of $15.56 billion, surpassing analyst expectations.
• The company declared a quarterly dividend of $1.50 per share, expected to be paid on September 10th, representing a 0.8% yield.

First Manhattan CO. LLC. lowered its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,817 shares of the company's stock after selling 2,382 shares during the period. First Manhattan CO. LLC.'s holdings in Eli Lilly and Company were worth $46,100,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. WestEnd Advisors LLC grew its position in Eli Lilly and Company by 210.0% during the first 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 period. Wealth Preservation Advisors LLC bought a new position in Eli Lilly and Company during the first quarter valued at about $27,000. Citizens National Bank Trust Department grew its position in Eli Lilly and Company by 180.0% during the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after buying an additional 27 shares during the period. Financial Gravity Asset Management Inc. bought a new position in Eli Lilly and Company during the first quarter valued at about $40,000. Finally, TD Capital Management LLC grew its position in Eli Lilly and Company by 129.2% during the first quarter. TD Capital Management LLC now owns 55 shares of the company's stock valued at $46,000 after buying an additional 31 shares during the period. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Price Performance

LLY traded up $1.08 on Wednesday, reaching $736.27. The company had a trading volume of 2,220,178 shares, compared to its average volume of 6,612,480. The business has a 50 day simple moving average of $747.03 and a 200 day simple moving average of $783.75. The company has a market cap of $696.85 billion, a price-to-earnings ratio of 48.12, a P/E/G ratio of 1.02 and a beta of 0.47. 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 52-week low of $623.78 and a 52-week high of $954.00.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its earnings results 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 for the quarter, compared to the consensus estimate 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 quarterly revenue was up 37.6% on a year-over-year basis. During the same period last year, the firm posted $3.92 earnings per share. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid 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 dividend yield of 0.8%. Eli Lilly and Company's dividend payout ratio (DPR) is 39.22%.

Insider Activity

In other Eli Lilly and Company news, CEO David A. Ricks purchased 1,632 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were purchased at an average cost 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 of the company's stock, valued at $352,431,926.77. The trade was a 0.30% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel Skovronsky purchased 1,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were acquired at an average cost of $634.40 per share, for a total transaction of $634,400.00. Following the completion of the purchase, the executive vice president directly owned 137,660 shares of the company's stock, valued at approximately $87,331,504. This represents a 0.73% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 4,514 shares of company stock valued at $2,894,841. Insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. DZ Bank upgraded shares of Eli Lilly and Company from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 14th. UBS Group cut their target price on shares of 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. Erste Group Bank lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Hsbc Global Res upgraded shares of Eli Lilly and Company from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, August 27th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Eli Lilly and 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.