Invesco Ltd. Reduces Stake in Eli Lilly and Company (NYSE:LLY)

Key Points

• Invesco Ltd. has reduced its stake in Eli Lilly and Company by 12%, now holding approximately $2.67 billion worth of shares, making it the 19th largest position in Invesco's portfolio.
• Eli Lilly recently posted quarterly earnings of $6.31 per share, surpassing analysts' expectations, and reported a revenue increase of 37.6% compared to the same quarter last year.
• The company announced a quarterly dividend of $1.50 per share, translating to an annualized yield of 1.0%, with a payout ratio of approximately 48.82%.

Invesco Ltd. trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 12.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,232,007 shares of the company's stock after selling 440,808 shares during the quarter. Eli Lilly and Company accounts for 0.5% of Invesco Ltd.'s holdings, making the stock its 19th largest holding. Invesco Ltd. owned about 0.34% of Eli Lilly and Company worth $2,669,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of LLY. WestEnd Advisors LLC increased its holdings 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 valued at $26,000 after acquiring an additional 21 shares during the last quarter. Citizens National Bank Trust Department increased its holdings 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 valued at $35,000 after acquiring an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new position in shares of Eli Lilly and Company in the 1st quarter valued at about $40,000. Mascagni Wealth Management Inc. purchased a new position in shares of Eli Lilly and Company in the 4th quarter valued at about $43,000. Finally, O Brien Wealth Partners LLC increased its holdings 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 valued at $49,000 after acquiring an additional 12 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Eli Lilly and Company news, Director Jamere Jackson bought 200 shares of the business's stock in a transaction dated Friday, August 8th. The stock was acquired at an average cost of $639.56 per share, with a total value of $127,912.00. Following the purchase, the director owned 9,402 shares in the company, valued at approximately $6,013,143.12. This represents a 2.17% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.13% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Erste Group Bank cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Leerink Partnrs cut Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Hsbc Global Res cut Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Finally, Guggenheim upped their target price on Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a research report on Friday, July 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $990.89.

Eli Lilly and Company Stock Performance

Shares of LLY stock traded down $15.71 during trading hours on Friday, reaching $625.15. 14,089,857 shares of the company's stock were exchanged, compared to its average volume of 4,833,475. The company has a market cap of $592.48 billion, a P/E ratio of 40.86, a price-to-earnings-growth ratio of 0.89 and a beta of 0.44. The company's 50 day moving average is $774.10 and its two-hundred day moving average is $799.11. Eli Lilly and Company has a 1 year low of $623.78 and a 1 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.

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

Eli Lilly and Company Announces Dividend

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

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.