Eli Lilly and Company (NYSE:LLY) Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich reduced its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 2.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 730,210 shares of the company's stock after selling 14,951 shares during the period. Eli Lilly and Company makes up approximately 2.2% of Bank Julius Baer & Co. Ltd Zurich's holdings, making the stock its 11th largest holding. Bank Julius Baer & Co. Ltd Zurich owned approximately 0.08% of Eli Lilly and Company worth $661,024,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Prestige Wealth Management Group LLC grew its stake in Eli Lilly and Company by 2.0% in the fourth quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company's stock valued at $468,000 after purchasing an additional 12 shares in the last quarter. Applied Finance Capital Management LLC grew its stake 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 in the last quarter. Garner Asset Management Corp grew its stake in Eli Lilly and Company by 2.3% in the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock valued at $411,000 after purchasing an additional 12 shares in the last quarter. Tobias Financial Advisors Inc. grew its stake in Eli Lilly and Company by 4.1% in the fourth quarter. Tobias Financial Advisors Inc. now owns 307 shares of the company's stock valued at $237,000 after purchasing an additional 12 shares in the last quarter. Finally, Redwood Investments LLC grew its stake in Eli Lilly and Company by 0.5% in the fourth quarter. Redwood Investments LLC now owns 2,209 shares of the company's stock valued at $1,705,000 after purchasing an additional 12 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on LLY shares. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their target price for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. Guggenheim increased their price target on Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,012.56.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY traded up $11.79 on Tuesday, hitting $773.97. 949,763 shares of the company were exchanged, compared to its average volume of 3,651,505. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The stock's 50 day moving average price is $767.03 and its 200 day moving average price is $800.17. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. The firm has a market capitalization of $733.52 billion, a P/E ratio of 62.88, a price-to-earnings-growth ratio of 1.12 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) 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 analyst estimates of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The company's revenue for the quarter was up 45.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.58 earnings per share. Sell-side analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.78%. Eli Lilly and Company's dividend payout ratio (DPR) is 48.82%.

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.

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