Marble Harbor Investment Counsel LLC Sells 1,450 Shares of Eli Lilly and Company (NYSE:LLY)

Key Points

• Marble Harbor Investment Counsel LLC reduced its stake in Eli Lilly and Company by 24.7% in the first quarter, selling 1,450 shares and leaving it with a total of 4,414 shares valued at approximately $3.65 million.
• Eli Lilly's earnings per share for the latest quarter were reported at $3.34, missing analyst estimates of $4.64, while revenue for the quarter was $12.73 billion, slightly below expectations.
• The company also announced a quarterly dividend of $1.50 per share, translating to an annualized dividend of $6.00 and a yield of 0.8%, with the ex-dividend date set for August 15th.

Marble Harbor Investment Counsel LLC cut its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 24.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,414 shares of the company's stock after selling 1,450 shares during the period. Marble Harbor Investment Counsel LLC's holdings in Eli Lilly and Company were worth $3,646,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its stake in shares of Eli Lilly and Company by 97.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock valued at $83,669,349,000 after purchasing an additional 50,002,551 shares during the period. GAMMA Investing LLC boosted its holdings 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 worth $12,278,292,000 after purchasing an additional 14,852,076 shares during the last quarter. Capital Research Global Investors boosted its holdings in Eli Lilly and Company by 16.1% during the fourth quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock worth $8,304,811,000 after purchasing an additional 1,493,673 shares during the last quarter. Northern Trust Corp boosted its holdings in Eli Lilly and Company by 14.6% during the fourth quarter. Northern Trust Corp now owns 9,448,219 shares of the company's stock worth $7,294,025,000 after purchasing an additional 1,204,337 shares during the last quarter. Finally, Capital International Investors grew its holdings in shares of Eli Lilly and Company by 23.2% in the 4th quarter. Capital International Investors now owns 8,730,758 shares of the company's stock valued at $6,740,272,000 after acquiring an additional 1,645,222 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY opened at $761.47 on Friday. The company's 50 day moving average price is $775.51 and its two-hundred day moving average price is $800.23. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53. The firm has a market cap of $721.68 billion, a PE ratio of 61.96, a PEG ratio of 1.08 and a beta of 0.44. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18.

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

Eli Lilly and Company Dividend Announcement

The firm also recently announced 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 0.8%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is presently 48.82%.

Wall Street Analysts Forecast Growth

LLY has been the subject of several analyst reports. Guggenheim raised their price objective on Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a report on Friday, July 11th. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price objective for the company. Erste Group Bank cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. UBS Group decreased their price objective on 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. Finally, Wall Street Zen upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,012.56.

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.

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