Eli Lilly and Company (NYSE:LLY) Stake Lessened by Palisade Asset Management LLC

Palisade Asset Management LLC lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,338 shares of the company's stock after selling 720 shares during the quarter. Eli Lilly and Company makes up 1.6% of Palisade Asset Management LLC's investment portfolio, making the stock its 22nd largest holding. Palisade Asset Management LLC's holdings in Eli Lilly and Company were worth $15,146,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of LLY. GAMMA Investing LLC lifted its stake 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 valued at $12,278,292,000 after purchasing an additional 14,852,076 shares during the last quarter. Norges Bank acquired a new position in Eli Lilly and Company during the 4th quarter valued at $8,407,908,000. Proficio Capital Partners LLC boosted its holdings in Eli Lilly and Company by 100,387.1% in the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company's stock valued at $4,016,110,000 after purchasing an additional 5,197,038 shares during the period. Wellington Management Group LLP grew its position in Eli Lilly and Company by 19.0% during the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after buying an additional 2,012,129 shares in the last quarter. Finally, Capital International Investors raised its holdings in Eli Lilly and Company by 23.2% in the 4th quarter. Capital International Investors now owns 8,730,758 shares of the company's stock valued at $6,740,272,000 after acquiring an additional 1,645,222 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Up 1.1%

Shares of LLY opened at $778.97 on Wednesday. The stock's fifty day simple moving average is $781.26 and its 200-day simple moving average is $800.21. 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 firm has a market capitalization of $738.26 billion, a PE ratio of 63.38, a price-to-earnings-growth ratio of 1.13 and a beta of 0.40. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.64 by ($1.30). The business had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The firm's revenue for the quarter was up 45.2% compared to the same quarter last year. During the same period last year, the business posted $2.58 EPS. As a group, research analysts predict 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 given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is 48.82%.

Analysts Set New Price Targets

LLY has been the topic of a number of research reports. Cantor Fitzgerald started coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price objective on the stock. Guggenheim reaffirmed a "buy" rating and set a $936.00 price objective on shares of Eli Lilly and Company in a report on Friday, June 20th. The Goldman Sachs Group raised 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. Wall Street Zen upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $1,011.61.

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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