Eli Lilly and Company (NYSE:LLY) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. cut its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 34.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 716,021 shares of the company's stock after selling 384,369 shares during the period. Eli Lilly and Company accounts for approximately 1.0% of Assenagon Asset Management S.A.'s portfolio, making the stock its 13th largest position. Assenagon Asset Management S.A. owned 0.08% of Eli Lilly and Company worth $591,369,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Garner Asset Management Corp lifted its position in shares of Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after buying an additional 12 shares during the last quarter. FWG Holdings LLC lifted its position in shares of Eli Lilly and Company by 0.6% during the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company's stock worth $1,640,000 after buying an additional 12 shares during the last quarter. Morling Financial Advisors LLC lifted its position in shares of Eli Lilly and Company by 4.7% during the 4th quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock worth $205,000 after buying an additional 12 shares during the last quarter. Prestige Wealth Management Group LLC lifted its position in shares of Eli Lilly and Company by 2.0% during the 4th quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company's stock worth $468,000 after buying an additional 12 shares during the last quarter. Finally, Applied Finance Capital Management LLC raised its position in Eli Lilly and Company by 1.4% in the fourth quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock valued at $660,000 after purchasing an additional 12 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 0.8%

Shares of NYSE:LLY traded up $6.53 during trading on Friday, hitting $818.56. The stock had a trading volume of 2,753,537 shares, compared to its average volume of 3,651,766. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The company has a market capitalization of $775.78 billion, a PE ratio of 69.90, a PEG ratio of 1.40 and a beta of 0.41. The firm's fifty day moving average is $775.43 and its 200 day moving average is $801.50. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate 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 23.51% and a return on equity of 85.24%. The business's revenue for the quarter was up 45.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.58 earnings per share. Analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were issued a $1.50 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a yield of 0.73%. Eli Lilly and Company's dividend payout ratio is currently 48.82%.

Analyst Upgrades and Downgrades

Several research firms have commented on LLY. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their target price for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. Guggenheim reiterated a "buy" rating on shares of Eli Lilly and Company in a research report on Friday, May 23rd. Erste Group Bank downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their price target for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. Finally, Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,011.37.

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.