Eli Lilly and Company (NYSE:LLY) Shares Sold by Klingenstein Fields & Co. LP

Klingenstein Fields & Co. LP trimmed its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 1.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,555 shares of the company's stock after selling 1,242 shares during the quarter. Eli Lilly and Company comprises 3.6% of Klingenstein Fields & Co. LP's portfolio, making the stock its 5th largest holding. Klingenstein Fields & Co. LP's holdings in Eli Lilly and Company were worth $83,875,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in LLY. Vanguard Group Inc. increased its stake in shares of Eli Lilly and Company by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company's stock valued at $57,320,226,000 after acquiring an additional 475,530 shares during the period. Geode Capital Management LLC lifted its position in Eli Lilly and Company by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock worth $13,389,651,000 after purchasing an additional 291,875 shares during the period. GAMMA Investing LLC boosted its stake in Eli Lilly and Company by 103,831.6% during the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock valued at $12,278,292,000 after purchasing an additional 14,852,076 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Eli Lilly and Company by 19.0% during the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock valued at $9,747,214,000 after purchasing an additional 2,012,129 shares during the period. Finally, Norges Bank bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth $8,407,908,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Trading Up 0.0%

NYSE LLY traded up $0.32 on Thursday, hitting $779.60. 1,450,772 shares of the stock were exchanged, compared to its average volume of 3,662,501. The company's 50-day moving average price is $777.35 and its two-hundred day moving average price is $799.71. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The company has a market capitalization of $738.85 billion, a price-to-earnings ratio of 63.43, a P/E/G ratio of 1.13 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). The business had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The business's quarterly revenue was up 45.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.58 EPS. Research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current 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 paid a dividend of $1.50 per share. The ex-dividend date is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.77%. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

Analysts Set New Price Targets

Several research analysts recently weighed in on LLY shares. Hsbc Global Res cut Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. UBS Group reduced their price objective on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Erste Group Bank cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Wall Street Zen lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. Finally, Morgan Stanley restated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Eli Lilly and Company has an average rating of "Moderate Buy" and an average target price of $1,011.61.

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.