Liberty One Investment Management LLC Cuts Stock Position in Eli Lilly and Company (NYSE:LLY)

Liberty One Investment Management LLC reduced its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 4.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,769 shares of the company's stock after selling 1,670 shares during the quarter. Eli Lilly and Company comprises approximately 3.0% of Liberty One Investment Management LLC's investment portfolio, making the stock its 11th biggest holding. Liberty One Investment Management LLC's holdings in Eli Lilly and Company were worth $29,542,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in LLY. GAMMA Investing LLC raised its position in 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 valued at $12,278,292,000 after acquiring an additional 14,852,076 shares in the last quarter. Norges Bank acquired a new stake in Eli Lilly and Company in the fourth quarter valued at approximately $8,407,908,000. Wellington Management Group LLP increased its position in shares of Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock valued at $9,747,214,000 after buying an additional 2,012,129 shares in the last quarter. Capital International Investors lifted its position in shares of Eli Lilly and Company by 23.2% during the 4th quarter. Capital International Investors now owns 8,730,758 shares of the company's stock valued at $6,740,272,000 after buying an additional 1,645,222 shares in the last quarter. Finally, Capital Research Global Investors grew its position in shares of Eli Lilly and Company by 16.1% in the fourth quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock valued at $8,304,811,000 after purchasing an additional 1,493,673 shares during the period. Institutional investors and hedge funds own 82.53% of the company's stock.

Eli Lilly and Company Trading Up 1.2%

Shares of LLY stock traded up $9.34 during trading on Wednesday, hitting $787.00. 2,701,662 shares of the stock traded hands, compared to its average volume of 3,663,521. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The firm has a market capitalization of $745.87 billion, a P/E ratio of 64.04, a price-to-earnings-growth ratio of 1.13 and a beta of 0.40. The firm's fifty day moving average price is $769.37 and its 200-day moving average price is $800.14. 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 posted its earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). The business had revenue of $12.73 billion during the quarter, compared to analysts' expectations of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. Eli Lilly and Company's revenue for the quarter was up 45.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.58 EPS. As a group, research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is presently 48.82%.

Analyst Ratings Changes

A number of research analysts recently weighed in on LLY shares. Erste Group Bank lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 target price on the stock. Hsbc Global Res lowered Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. Morgan Stanley reissued an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,011.61.

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.