Eli Lilly and Company (NYSE:LLY) Stock Position Decreased by Martin Currie Ltd.

Key Points

• Martin Currie Ltd. has reduced its stake in Eli Lilly and Company by 6.9%, selling 2,580 shares and holding 34,842 shares, which are valued at approximately $28.78 million.
• Eli Lilly's quarterly earnings report showed $6.31 earnings per share, exceeding estimates and reflecting a 37.6% increase in revenue compared to last year.
• The company declared a quarterly dividend of $1.50 per share, with an upcoming payment date of September 10th, translating to an annual yield of 0.9%.

Martin Currie Ltd. lessened its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 6.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,842 shares of the company's stock after selling 2,580 shares during the quarter. Eli Lilly and Company accounts for 1.2% of Martin Currie Ltd.'s investment portfolio, making the stock its 29th biggest position. Martin Currie Ltd.'s holdings in Eli Lilly and Company were worth $28,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of LLY. Brighton Jones LLC increased its holdings in Eli Lilly and Company by 22.0% in the fourth quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock valued at $7,409,000 after buying an additional 1,730 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in Eli Lilly and Company by 2.8% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock valued at $1,136,000 after buying an additional 40 shares during the last quarter. Orion Capital Management LLC increased its holdings in Eli Lilly and Company by 2.5% in the fourth quarter. Orion Capital Management LLC now owns 1,610 shares of the company's stock valued at $1,243,000 after buying an additional 40 shares during the last quarter. Bank Pictet & Cie Europe AG increased its holdings in Eli Lilly and Company by 4.1% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 64,758 shares of the company's stock valued at $49,993,000 after buying an additional 2,568 shares during the last quarter. Finally, Breed s Hill Capital LLC increased its holdings in Eli Lilly and Company by 212.0% in the fourth quarter. Breed s Hill Capital LLC now owns 1,426 shares of the company's stock valued at $1,101,000 after buying an additional 969 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on LLY. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Leerink Partnrs lowered Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. Hsbc Global Res cut Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. DZ Bank upgraded Eli Lilly and Company from a "hold" rating to a "strong-buy" rating in a research report on Thursday. Finally, UBS Group dropped their price target on Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Eli Lilly and Company currently has an average rating of "Moderate Buy" and an average target price of $964.88.

Eli Lilly and Company Stock Performance

LLY traded up $17.08 during trading hours on Friday, hitting $701.51. The company's stock had a trading volume of 8,211,278 shares, compared to its average volume of 6,346,453. The company has a 50-day simple moving average of $764.55 and a 200 day simple moving average of $794.63. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $663.95 billion, a PE ratio of 45.85, a PEG ratio of 0.98 and a beta of 0.44. Eli Lilly and Company has a fifty-two week low of $623.78 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.59 by $0.72. The firm had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.40 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%. The firm's quarterly revenue was up 37.6% on a year-over-year basis. During the same period last year, the company posted $3.92 EPS. As a group, sell-side analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders 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 yield of 0.9%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is presently 39.22%.

Insider Activity

In other news, EVP Daniel Skovronsky purchased 1,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was purchased at an average cost of $634.40 per share, with a total value of $634,400.00. Following the purchase, the executive vice president owned 137,660 shares in the company, valued at $87,331,504. This trade represents a 0.73% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director J Erik Fyrwald purchased 1,565 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were purchased at an average cost of $642.33 per share, with a total value of $1,005,246.45. Following the completion of the purchase, the director owned 74,578 shares in the company, valued at $47,903,686.74. This represents a 2.14% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 4,514 shares of company stock worth $2,894,841 in the last quarter. 0.13% of the stock is currently owned by corporate insiders.

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.