Eli Lilly and Company (NYSE:LLY) Shares Sold by Vestcor Inc

Key Points

• Vestcor Inc reduced its holdings in Eli Lilly and Company by 16.3%, lowering their share count to 38,296 and making it their 9th largest position.
• Analysts have set a consensus price target of $1,012.56 for Eli Lilly, with a current consensus rating of "Moderate Buy" as the company has received 17 buy ratings from research analysts.
• Eli Lilly recently announced a dividend of $1.50 per share, which represents a yield of 0.79% and a payout ratio of 48.82%.

Vestcor Inc lowered its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 16.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,296 shares of the company's stock after selling 7,468 shares during the period. Eli Lilly and Company makes up 1.1% of Vestcor Inc's holdings, making the stock its 9th largest position. Vestcor Inc's holdings in Eli Lilly and Company were worth $31,629,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. WestEnd Advisors LLC raised its stake in shares of 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 in the last quarter. Citizens National Bank Trust Department raised its stake in shares of 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 in the last quarter. Financial Gravity Asset Management Inc. bought a new stake in shares of Eli Lilly and Company in the 1st quarter worth $40,000. Mascagni Wealth Management Inc. bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth $43,000. Finally, O Brien Wealth Partners LLC raised its stake in shares of Eli Lilly and Company by 25.5% in the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock worth $49,000 after buying an additional 12 shares in the last quarter. Institutional investors own 82.53% of the company's stock.

Analysts Set New Price Targets

LLY has been the topic of a number of research reports. Wall Street Zen raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Saturday. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 target price on the stock. Hsbc Global Res lowered Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Finally, The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their target price for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,012.56.

Eli Lilly and Company Stock Down 0.4%

NYSE LLY traded down $3.19 on Wednesday, reaching $759.76. The stock had a trading volume of 4,331,834 shares, compared to its average volume of 2,949,040. The business has a 50 day moving average price of $774.07 and a 200 day moving average price of $800.13. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53. The company has a market capitalization of $720.05 billion, a price-to-earnings ratio of 61.82, a P/E/G ratio of 1.08 and a beta of 0.40.

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 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 during the quarter, compared to analysts' expectations of $12.77 billion. During the same quarter last year, the firm earned $2.58 EPS. The business's revenue for the quarter was up 45.2% compared to the same quarter last year. On average, analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a $1.50 dividend. The ex-dividend date is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.79%. Eli Lilly and Company's dividend payout ratio is currently 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.