M&T Bank Corp Decreases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

M&T Bank Corp cut its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 5.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 246,654 shares of the company's stock after selling 14,170 shares during the period. Eli Lilly and Company comprises about 0.7% of M&T Bank Corp's holdings, making the stock its 28th largest position. M&T Bank Corp's holdings in Eli Lilly and Company were worth $203,714,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. WestEnd Advisors LLC increased its position in shares of Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after purchasing an additional 21 shares in the last quarter. Citizens National Bank Trust Department increased its position in shares of Eli Lilly and Company by 180.0% during the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after purchasing an additional 27 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth about $43,000. Prudent Man Investment Management Inc. acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth about $48,000. Finally, O Brien Wealth Partners LLC increased its position 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 purchasing an additional 12 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on LLY shares. Guggenheim reiterated a "buy" rating and set a $936.00 target price on shares of Eli Lilly and Company in a research report on Friday, June 20th. Cantor Fitzgerald started coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price target on the stock. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Wall Street Zen lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,011.61.

Eli Lilly and Company Trading Up 1.0%

LLY traded up $7.60 during trading on Thursday, reaching $794.52. The company had a trading volume of 1,142,575 shares, compared to its average volume of 3,658,814. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18. The business has a 50 day simple moving average of $767.12 and a 200-day simple moving average of $800.05. The stock has a market cap of $752.99 billion, a P/E ratio of 64.60, a PEG ratio of 1.14 and a beta of 0.40. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly 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). 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 analysts' expectations of $12.77 billion. During the same quarter in the prior year, the business posted $2.58 EPS. The business's quarterly revenue was up 45.2% on a year-over-year basis. On average, equities 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 declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.76%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is currently 48.82%.

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.