Geneva Partners LLC Cuts Holdings in Eli Lilly and Company (NYSE:LLY)

Geneva Partners LLC trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 46.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,583 shares of the company's stock after selling 3,956 shares during the quarter. Eli Lilly and Company makes up about 1.9% of Geneva Partners LLC's portfolio, making the stock its 20th largest holding. Geneva Partners LLC's holdings in Eli Lilly and Company were worth $3,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in 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 valued at $57,320,226,000 after acquiring an additional 475,530 shares during the period. Geode Capital Management LLC increased its position in shares of Eli Lilly and Company by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock worth $13,389,651,000 after buying an additional 291,875 shares during the period. GAMMA Investing LLC increased its position in shares of Eli Lilly and Company by 103,831.6% during the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after buying an additional 14,852,076 shares during the period. Wellington Management Group LLP increased its position in shares of 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 during the period. Finally, Norges Bank acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth $8,407,908,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Hsbc Global Res cut shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Erste Group Bank cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. HSBC cut shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their price objective for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. Guggenheim reissued a "buy" rating and set a $936.00 price target on shares of Eli Lilly and Company in a research report on Friday, June 20th. Finally, Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,012.22.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY traded up $3.31 during midday trading on Thursday, hitting $790.23. The company's stock had a trading volume of 3,034,451 shares, compared to its average volume of 3,666,287. The stock has a fifty day moving average price of $767.12 and a 200 day moving average price of $800.05. Eli Lilly and Company has a one year low of $677.09 and a one year high of $972.53. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. The firm has a market capitalization of $748.93 billion, a price-to-earnings ratio of 64.30, a P/E/G ratio of 1.14 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly 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). 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 during the quarter, compared to the consensus estimate of $12.77 billion. During the same period last year, the firm earned $2.58 EPS. The business's revenue for the quarter was up 45.2% on a year-over-year basis. On average, research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company 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 dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.76%. 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.