Eli Lilly and Company (NYSE:LLY) Shares Sold by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp reduced its holdings in Eli Lilly and Company by 8.0%, selling 22,047 shares and retaining 252,434 shares valued at approximately $208.5 million.
• Eli Lilly's recent quarterly earnings reported an EPS of $3.34, missing expectations by $1.30, despite a revenue increase of 45.2% from the previous year.
• The company announced a quarterly dividend of $1.50, which equates to an annualized yield of 0.74% and a dividend payout ratio of 48.82%.

Mackenzie Financial Corp reduced its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 252,434 shares of the company's stock after selling 22,047 shares during the period. Mackenzie Financial Corp's holdings in Eli Lilly and Company were worth $208,488,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LLY. Woodard & Co. Asset Management Group Inc. ADV increased its stake in shares of Eli Lilly and Company by 2.4% during the first quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 2,264 shares of the company's stock worth $1,870,000 after buying an additional 53 shares during the period. Nkcfo LLC acquired a new position in Eli Lilly and Company during the 1st quarter worth approximately $95,000. Carrera Capital Advisors increased its position in shares of Eli Lilly and Company by 68.4% in the 1st quarter. Carrera Capital Advisors now owns 633 shares of the company's stock valued at $523,000 after purchasing an additional 257 shares during the last quarter. Richards Merrill & Peterson Inc. raised its holdings in shares of Eli Lilly and Company by 7.6% in the 1st quarter. Richards Merrill & Peterson Inc. now owns 611 shares of the company's stock valued at $505,000 after purchasing an additional 43 shares in the last quarter. Finally, Wealthstream Advisors Inc. lifted its position in shares of Eli Lilly and Company by 3.9% during the 1st quarter. Wealthstream Advisors Inc. now owns 1,319 shares of the company's stock worth $1,090,000 after purchasing an additional 49 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock traded down $14.08 during trading hours on Thursday, reaching $746.00. 2,968,347 shares of the stock were exchanged, compared to its average volume of 3,778,807. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The stock has a market cap of $707.01 billion, a P/E ratio of 60.59, a P/E/G ratio of 1.08 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 is $774.07 and its 200 day moving average is $800.13.

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

Eli Lilly and Company Dividend Announcement

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 0.80%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is 48.82%.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of analyst reports. UBS Group cut their price target on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their target price for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price target on the stock. Finally, Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company currently has an average rating of "Moderate Buy" and an average price target 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.