Eli Lilly and Company (NYSE:LLY) Shares Sold by Barings LLC

Key Points

• Barings LLC reduced its stake in Eli Lilly by 28.6%, holding 1,191 shares worth approximately $984,000 after selling 478 shares in the first quarter.
• Several hedge funds increased their stakes in Eli Lilly, with WestEnd Advisors boosting its holdings by 210% to own 31 shares valued at $26,000 as of the latest quarter.
• Eli Lilly announced a quarterly dividend of $1.50 per share, which translates to an annualized payout of $6.00, providing a dividend yield of 0.8% for shareholders.

Barings LLC lessened its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 28.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,191 shares of the company's stock after selling 478 shares during the quarter. Barings LLC's holdings in Eli Lilly and Company were worth $984,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. WestEnd Advisors LLC increased its holdings in Eli Lilly and Company by 210.0% in the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after buying an additional 21 shares during the period. Citizens National Bank Trust Department increased its holdings in Eli Lilly and Company by 180.0% in the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after buying an additional 27 shares during the period. Financial Gravity Asset Management Inc. acquired a new position in Eli Lilly and Company in the 1st quarter worth approximately $40,000. Mascagni Wealth Management Inc. acquired a new position in Eli Lilly and Company in the 4th quarter worth approximately $43,000. Finally, O Brien Wealth Partners LLC lifted its holdings in Eli Lilly and Company by 25.5% in the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock valued at $49,000 after acquiring an additional 12 shares during the period. Institutional investors and hedge funds own 82.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LLY. UBS Group decreased their price target on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Erste Group Bank cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Wall Street Zen raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $1,135.00 price objective (up previously from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of "Moderate Buy" and an average target price of $1,012.56.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock opened at $761.47 on Friday. The business has a 50 day simple moving average of $775.51 and a two-hundred day simple moving average of $799.86. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. The stock has a market capitalization of $721.68 billion, a P/E ratio of 61.96, a PEG ratio of 1.05 and a beta of 0.44. 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 (NYSE:LLY - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The firm had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. During the same period in the previous year, the company earned $2.58 EPS. Eli Lilly and Company's revenue was up 45.2% compared to the same quarter last year. As a group, analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.8%. Eli Lilly and Company's dividend payout ratio is presently 48.82%.

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.

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