Hudson Canyon Capital Management Has $3.24 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Key Points

• Hudson Canyon Capital Management reduced its stake in Eli Lilly by 16.2% in Q1, holding 3,925 shares valued at approximately $3.24 million, making it the firm's 8th largest position.
• Analysts have a consensus rating of "Moderate Buy" for Eli Lilly, with a target price averaging around $999.50.
• Eli Lilly reported a strong Q2 with earnings of $6.31 per share, surpassing expectations and experiencing a 37.6% year-over-year revenue growth.

Hudson Canyon Capital Management decreased its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 16.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,925 shares of the company's stock after selling 758 shares during the period. Eli Lilly and Company comprises approximately 2.3% of Hudson Canyon Capital Management's holdings, making the stock its 8th biggest holding. Hudson Canyon Capital Management's holdings in Eli Lilly and Company were worth $3,242,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LaSalle St. Investment Advisors LLC increased its position in shares of Eli Lilly and Company by 39.1% in the 1st quarter. LaSalle St. Investment Advisors LLC now owns 1,070 shares of the company's stock worth $883,000 after purchasing an additional 301 shares during the last quarter. Nutshell Asset Management Ltd increased its position in shares of Eli Lilly and Company by 43.0% in the 1st quarter. Nutshell Asset Management Ltd now owns 4,990 shares of the company's stock worth $4,121,000 after purchasing an additional 1,500 shares during the last quarter. Caisse Des Depots ET Consignations increased its position in shares of Eli Lilly and Company by 13.7% in the 1st quarter. Caisse Des Depots ET Consignations now owns 9,946 shares of the company's stock worth $8,215,000 after purchasing an additional 1,198 shares during the last quarter. AlphaCore Capital LLC increased its position in shares of Eli Lilly and Company by 75.3% in the 1st quarter. AlphaCore Capital LLC now owns 3,331 shares of the company's stock worth $2,751,000 after purchasing an additional 1,431 shares during the last quarter. Finally, Fayez Sarofim & Co increased its position in shares of Eli Lilly and Company by 12.2% in the 1st quarter. Fayez Sarofim & Co now owns 443,587 shares of the company's stock worth $366,363,000 after purchasing an additional 48,290 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY traded down $15.71 during trading on Friday, reaching $625.15. The company had a trading volume of 14,089,857 shares, compared to its average volume of 4,833,475. The firm's fifty day moving average is $774.10 and its 200 day moving average is $798.80. The firm has a market capitalization of $592.48 billion, a PE ratio of 40.86, a price-to-earnings-growth ratio of 0.91 and a beta of 0.44. Eli Lilly and Company has a twelve month low of $623.78 and a twelve month high of $972.53. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, topping analysts' consensus estimates of $5.59 by $0.72. The company had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.40 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 98.25%. The business's revenue for the quarter was up 37.6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.92 EPS. On average, equities analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 1.0%. Eli Lilly and Company's dividend payout ratio (DPR) is 48.82%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on LLY shares. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Leerink Partners reaffirmed a "market perform" rating and issued a $715.00 price target on shares of Eli Lilly and Company in a report on Thursday. Guggenheim lifted their price target on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a report on Friday, July 11th. Hsbc Global Res lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $1,135.00 price target (up from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company currently has an average rating of "Moderate Buy" and a consensus price target of $990.89.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, Director Jamere Jackson bought 200 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average cost of $639.56 per share, for a total transaction of $127,912.00. Following the acquisition, the director directly owned 9,402 shares of the company's stock, valued at $6,013,143.12. This trade represents a 2.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.13% of the company's stock.

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.