Eli Lilly and Company (NYSE:LLY) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 0.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,284,294 shares of the company's stock after selling 7,164 shares during the quarter. Principal Financial Group Inc. owned 0.14% of Eli Lilly and Company worth $1,060,712,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Garner Asset Management Corp boosted its holdings in shares of Eli Lilly and Company by 2.3% in the fourth 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 period. Brighton Jones LLC boosted its stake in Eli Lilly and Company by 22.0% in the 4th quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock worth $7,409,000 after purchasing an additional 1,730 shares during the period. Revolve Wealth Partners LLC boosted its stake in Eli Lilly and Company by 2.8% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock worth $1,136,000 after purchasing an additional 40 shares during the period. Orion Capital Management LLC grew its position in Eli Lilly and Company by 2.5% during the 4th quarter. Orion Capital Management LLC now owns 1,610 shares of the company's stock worth $1,243,000 after purchasing an additional 40 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG raised its stake in Eli Lilly and Company by 4.1% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 64,758 shares of the company's stock valued at $49,993,000 after purchasing an additional 2,568 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wall Street Zen cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. Erste Group Bank cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 target price for the company. HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their price target for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Finally, The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their target price for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,011.61.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $779.60 on Friday. The stock has a market cap of $738.85 billion, a PE ratio of 63.43, a price-to-earnings-growth ratio of 1.14 and a beta of 0.40. The stock has a 50-day moving average of $773.61 and a 200-day moving average of $799.72. 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 has a one year low of $677.09 and a one year 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). 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 during the quarter, compared to the consensus estimate of $12.77 billion. During the same period in the previous year, the company posted $2.58 EPS. The firm's revenue for the quarter was up 45.2% on a year-over-year basis. As a group, sell-side analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a yield of 0.77%. Eli Lilly and Company's payout ratio is 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.

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