Korea Investment CORP Sells 5,775 Shares of Eli Lilly and Company $LLY

Key Points

• Korea Investment Corp has decreased its stake in Eli Lilly and Company by 0.9%, now holding approximately 647,758 shares valued at around $534.99 million.
• Several analysts have offered mixed ratings on Eli Lilly, with DZ Bank upgrading the stock to a "strong-buy" while HSBC downgraded it from "buy" to "reduce" with a revised target price of $700.
• The company announced a quarterly dividend of $1.50 per share, which will be paid on September 10th, representing an annualized yield of 0.9%.

Korea Investment CORP decreased its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 647,758 shares of the company's stock after selling 5,775 shares during the quarter. Eli Lilly and Company makes up about 1.3% of Korea Investment CORP's holdings, making the stock its 12th biggest position. Korea Investment CORP owned approximately 0.07% of Eli Lilly and Company worth $534,990,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of LLY. WestEnd Advisors LLC boosted its holdings 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 worth $26,000 after buying an additional 21 shares during the period. Citizens National Bank Trust Department boosted its holdings in shares of Eli Lilly and Company by 180.0% during the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after buying an additional 27 shares during the period. Financial Gravity Asset Management Inc. bought a new stake in shares of Eli Lilly and Company during the 1st quarter worth $40,000. Mascagni Wealth Management Inc. bought a new stake in shares of Eli Lilly and Company during the 4th quarter worth $43,000. Finally, O Brien Wealth Partners LLC boosted its holdings in shares of Eli Lilly and Company by 25.5% during the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock worth $49,000 after buying an additional 12 shares during the period. Institutional investors and hedge funds own 82.53% of the company's stock.

Insider Buying and Selling

In other news, Director J Erik Fyrwald bought 1,565 shares of Eli Lilly and Company stock in a transaction dated Tuesday, August 12th. The shares were bought at an average price of $642.33 per share, for a total transaction of $1,005,246.45. Following the purchase, the director owned 74,578 shares of the company's stock, valued at approximately $47,903,686.74. This trade represents a 2.14% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David A. Ricks bought 1,632 shares of Eli Lilly and Company stock in a transaction dated Tuesday, August 12th. The stock was purchased at an average price of $644.77 per share, for a total transaction of $1,052,264.64. Following the purchase, the chief executive officer directly owned 546,601 shares in the company, valued at $352,431,926.77. This represents a 0.30% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 4,514 shares of company stock worth $2,894,841 in the last three months. Company insiders own 0.14% of the company's stock.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock traded up $5.5170 during trading on Tuesday, hitting $703.5670. 5,929,987 shares of the company's stock traded hands, compared to its average volume of 6,686,759. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00. The firm's fifty day moving average price is $760.97 and its 200 day moving average price is $793.02. Eli Lilly and Company has a twelve month low of $623.78 and a twelve month high of $972.53. The company has a market cap of $665.90 billion, a PE ratio of 45.98, a PEG ratio of 0.97 and a beta of 0.44.

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 for the quarter, beating the consensus estimate of $5.59 by $0.72. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The business had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.40 billion. During the same period in the previous year, the business earned $3.92 EPS. The firm's revenue was up 37.6% on a year-over-year basis. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. Analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company 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 $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is currently 39.22%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Daiwa America downgraded shares of Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a report on Sunday. HSBC cut shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their target price for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Daiwa Capital Markets cut shares of Eli Lilly and Company from an "outperform" rating to a "neutral" rating and set a $700.00 target price for the company. in a research note on Sunday. Finally, Leerink Partners reiterated a "market perform" rating and set a $715.00 target price on shares of Eli Lilly and Company in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average price target of $950.17.

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.