Eli Lilly and Company (NYSE:LLY) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 19.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 836,834 shares of the company's stock after selling 208,384 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.09% of Eli Lilly and Company worth $691,150,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of LLY. Sumitomo Life Insurance Co. lifted its stake in Eli Lilly and Company by 22.4% in the 1st quarter. Sumitomo Life Insurance Co. now owns 30,720 shares of the company's stock worth $25,372,000 after purchasing an additional 5,631 shares in the last quarter. Asahi Life Asset Management CO. LTD. raised its position in Eli Lilly and Company by 57.3% in the 1st quarter. Asahi Life Asset Management CO. LTD. now owns 1,866 shares of the company's stock worth $1,541,000 after purchasing an additional 680 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its position in Eli Lilly and Company by 4,588.9% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 597,224 shares of the company's stock worth $493,253,000 after purchasing an additional 584,487 shares during the period. Lokken Investment Group LLC raised its position in Eli Lilly and Company by 36.8% in the 1st quarter. Lokken Investment Group LLC now owns 5,616 shares of the company's stock worth $4,638,000 after purchasing an additional 1,510 shares during the period. Finally, Apollon Financial LLC raised its position in Eli Lilly and Company by 2.3% in the 1st quarter. Apollon Financial LLC now owns 1,614 shares of the company's stock worth $1,333,000 after purchasing an additional 37 shares during the period. Hedge funds and other institutional investors own 82.53% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group reduced their price objective on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. 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 target price on the stock. Wall Street Zen downgraded shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. Guggenheim upped their target price on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Morgan Stanley restated an "overweight" rating and issued a $1,135.00 target price (up from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average price target of $1,012.56.

Eli Lilly and Company Stock Performance

LLY traded up $11.72 on Friday, reaching $773.22. The stock had a trading volume of 2,409,437 shares, compared to its average volume of 3,677,189. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. The business's 50-day moving average price is $766.32 and its two-hundred day moving average price is $799.83. The company has a market cap of $732.81 billion, a P/E ratio of 62.94, a price-to-earnings-growth ratio of 1.15 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The firm had revenue of $12.73 billion during the quarter, compared to analysts' expectations of $12.77 billion. During the same period in the previous year, the firm posted $2.58 EPS. The firm's quarterly revenue was up 45.2% on a year-over-year basis. Sell-side analysts forecast 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 announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a $1.50 dividend. The ex-dividend date is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.78%. Eli Lilly and Company's dividend payout ratio (DPR) is 48.82%.

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.