Victory Capital Management Inc. Trims Stake in Eli Lilly and Company (NYSE:LLY)

Victory Capital Management Inc. trimmed its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 3.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 655,913 shares of the company's stock after selling 21,675 shares during the quarter. Eli Lilly and Company accounts for approximately 0.6% of Victory Capital Management Inc.'s holdings, making the stock its 16th largest position. Victory Capital Management Inc. owned approximately 0.07% of Eli Lilly and Company worth $541,725,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of LLY. WestEnd Advisors LLC grew its position in shares of Eli Lilly and Company by 210.0% during the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after acquiring an additional 21 shares during the period. Citizens National Bank Trust Department lifted its position in 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 valued at $35,000 after purchasing an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new stake in Eli Lilly and Company during the first quarter valued at about $40,000. Mascagni Wealth Management Inc. purchased a new stake in Eli Lilly and Company in the fourth quarter worth about $43,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of Eli Lilly and Company in the fourth quarter worth about $48,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LLY. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their price objective for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Guggenheim upped their price target on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. HSBC downgraded shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their price objective for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, Cantor Fitzgerald initiated 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, Eli Lilly and Company has a consensus rating of "Moderate Buy" and a consensus target price of $1,012.56.

Eli Lilly and Company Price Performance

Shares of NYSE LLY traded down $26.21 during midday trading on Thursday, reaching $763.60. 2,956,616 shares of the stock traded hands, compared to its average volume of 3,680,083. The company's 50 day moving average is $766.12 and its 200 day moving average is $799.91. Eli Lilly and Company has a one year low of $677.09 and a one year high of $972.53. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. The stock has a market capitalization of $723.69 billion, a PE ratio of 62.12, a P/E/G ratio of 1.12 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (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 business had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. During the same period in the previous year, the company earned $2.58 EPS. Eli Lilly and Company's revenue for the quarter was up 45.2% compared to the same quarter last year. On average, equities research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders 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 0.79%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is 48.82%.

Eli Lilly and 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.