Eli Lilly and Company (NYSE:LLY) Position Lessened by Clal Insurance Enterprises Holdings Ltd

Key Points

• Clal Insurance Enterprises Holdings Ltd reduced its stake in Eli Lilly by 4.1%, now holding 86,055 shares valued at approximately $71.07 million.
• Eli Lilly's stock recently opened at $635.46 and has seen a 52-week high of $972.53, along with a significant market capitalization of $601.44 billion.
• The company plans to pay a quarterly dividend of $1.50, translating to an annual yield of 0.9%, with a payout ratio of 39.22%.

Clal Insurance Enterprises Holdings Ltd trimmed its position in shares of 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. The institutional investor owned 86,055 shares of the company's stock after selling 3,649 shares during the period. Clal Insurance Enterprises Holdings Ltd's holdings in Eli Lilly and Company were worth $71,074,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Tobias Financial Advisors Inc. boosted its holdings in shares of Eli Lilly and Company by 4.1% during the fourth quarter. Tobias Financial Advisors Inc. now owns 307 shares of the company's stock worth $237,000 after acquiring an additional 12 shares during the period. Redwood Investments LLC boosted its holdings in shares of Eli Lilly and Company by 0.5% during the fourth quarter. Redwood Investments LLC now owns 2,209 shares of the company's stock worth $1,705,000 after acquiring an additional 12 shares during the period. Hobbs Wealth Management LLC boosted its holdings in shares of Eli Lilly and Company by 0.8% during the first quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company's stock worth $1,205,000 after acquiring an additional 12 shares during the period. Hixon Zuercher LLC boosted its holdings in shares of Eli Lilly and Company by 0.7% during the first quarter. Hixon Zuercher LLC now owns 1,789 shares of the company's stock worth $1,477,000 after acquiring an additional 12 shares during the period. Finally, O Brien Wealth Partners LLC boosted its holdings in shares of Eli Lilly and Company by 25.5% during the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock worth $49,000 after acquiring an additional 12 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 1.6%

Shares of LLY opened at $635.46 on Tuesday. Eli Lilly and Company has a 52 week low of $623.78 and a 52 week high of $972.53. The stock has a market capitalization of $601.44 billion, a price-to-earnings ratio of 41.53, a PEG ratio of 0.87 and a beta of 0.44. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28. The stock has a fifty day moving average of $771.87 and a 200-day moving average of $798.30.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $6.31 EPS for the quarter, beating analysts' consensus estimates of $5.59 by $0.72. The company had revenue of $15.56 billion during the quarter, compared to analysts' expectations of $14.40 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%. Eli Lilly and Company's revenue was up 37.6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.92 EPS. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Jamere Jackson acquired 200 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was acquired at an average cost of $639.56 per share, for a total transaction of $127,912.00. Following the completion of the acquisition, the director directly owned 9,402 shares of the company's stock, valued at approximately $6,013,143.12. This trade represents a 2.17% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.14% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of research analyst reports. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price objective for the company. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their price target for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. Deutsche Bank Aktiengesellschaft cut 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 note on Monday. UBS Group cut 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 note on Friday. Finally, Leerink Partners reiterated a "market perform" rating and issued a $715.00 price target on shares of Eli Lilly and Company in a research note on Thursday, August 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $977.65.

Eli Lilly and Company 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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