Los Angeles Capital Management LLC Lowers Stock Position in Eli Lilly and Company (NYSE:LLY)

Los Angeles Capital Management LLC decreased its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 34.9% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 204,752 shares of the company's stock after selling 109,918 shares during the period. Eli Lilly and Company accounts for approximately 0.7% of Los Angeles Capital Management LLC's portfolio, making the stock its 29th largest holding. Los Angeles Capital Management LLC's holdings in Eli Lilly and Company were worth $169,107,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in LLY. Vanguard Group Inc. increased its holdings in Eli Lilly and Company by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company's stock valued at $57,320,226,000 after buying an additional 475,530 shares during the last quarter. Geode Capital Management LLC boosted its stake in Eli Lilly and Company by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock valued at $13,389,651,000 after acquiring an additional 291,875 shares during the period. GAMMA Investing LLC boosted its stake in Eli Lilly and Company by 103,831.6% in 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 during the period. Wellington Management Group LLP boosted its stake in 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 acquiring an additional 2,012,129 shares during the period. Finally, Norges Bank acquired a new position in Eli Lilly and Company in the fourth quarter valued at approximately $8,407,908,000. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

Shares of LLY stock traded up $10.28 during midday trading on Friday, hitting $771.78. 3,351,657 shares of the company were exchanged, compared to its average volume of 3,664,442. The firm has a market capitalization of $731.45 billion, a P/E ratio of 62.80, a PEG ratio of 1.12 and a beta of 0.40. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. The firm's 50 day moving average price is $767.03 and its two-hundred day moving average price is $800.02. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). The company had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The business's quarterly revenue was up 45.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.58 EPS. As a group, equities research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors 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 yield of 0.78%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is 48.82%.

Wall Street Analysts Forecast Growth

LLY has been the topic of several research reports. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their price target for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. UBS Group decreased their price objective on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Morgan Stanley restated an "overweight" rating and set 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. The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their price objective for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. Finally, Cantor Fitzgerald began 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 objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $1,012.56.

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.