M&T Bank Corp Sells 14,170 Shares of Eli Lilly and Company (NYSE:LLY)

M&T Bank Corp trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 5.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 246,654 shares of the company's stock after selling 14,170 shares during the period. Eli Lilly and Company accounts for 0.7% of M&T Bank Corp's portfolio, making the stock its 28th biggest position. M&T Bank Corp's holdings in Eli Lilly and Company were worth $203,714,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of LLY. Vanguard Group Inc. increased its holdings in shares of Eli Lilly and Company by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company's stock worth $57,320,226,000 after acquiring an additional 475,530 shares during the period. Geode Capital Management LLC increased its holdings in shares of Eli Lilly and Company by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock worth $13,389,651,000 after acquiring an additional 291,875 shares during the period. GAMMA Investing LLC increased its holdings in shares of Eli Lilly and Company by 103,831.6% in the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after acquiring an additional 14,852,076 shares during the period. Wellington Management Group LLP increased its stake in Eli Lilly and Company by 19.0% during the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock valued at $9,747,214,000 after buying an additional 2,012,129 shares during the period. Finally, Norges Bank acquired a new position in Eli Lilly and Company during the 4th quarter valued at about $8,407,908,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Up 0.3%

Shares of LLY stock traded up $2.69 during trading on Friday, hitting $793.34. 2,851,567 shares of the company were exchanged, compared to its average volume of 3,667,034. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. The firm has a market capitalization of $751.88 billion, a price-to-earnings ratio of 64.55, a P/E/G ratio of 1.15 and a beta of 0.40. The business's 50-day simple moving average is $767.03 and its 200 day simple moving average is $800.01. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted 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). The company had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The business's revenue for the quarter was up 45.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.58 earnings per share. As a group, analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's payout ratio is presently 48.82%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wall Street Zen cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. Hsbc Global Res cut shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. Morgan Stanley reissued an "overweight" rating and set a $1,135.00 target price (up previously from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 target price on the stock. Finally, Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,012.56.

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.