Mizuho Securities USA LLC Sells 11,588 Shares of Eli Lilly and Company (NYSE:LLY)

Key Points

• Mizuho Securities USA LLC sold 11,588 shares of Eli Lilly and Company, reducing its holdings by 15.5% during the first quarter, leaving it with 63,090 shares valued at approximately $52.1 million.
• Eli Lilly reported strong earnings of $6.31 per share, exceeding analysts' expectations by $0.72, while revenue for the quarter reached $15.56 billion, a 37.6% increase from the previous year.
• The company declared a quarterly dividend of $1.50 per share, with an annualized dividend yield of 1.0% and a payout ratio of 48.82%.

Mizuho Securities USA LLC reduced its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 15.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 63,090 shares of the company's stock after selling 11,588 shares during the quarter. Eli Lilly and Company comprises approximately 1.1% of Mizuho Securities USA LLC's holdings, making the stock its 13th largest holding. Mizuho Securities USA LLC's holdings in Eli Lilly and Company were worth $52,107,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Knightsbridge Asset Management LLC raised its holdings in Eli Lilly and Company by 1.9% during the 4th quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock valued at $628,000 after buying an additional 15 shares during the period. LS Investment Advisors LLC raised its holdings in Eli Lilly and Company by 1.7% during the 1st quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock valued at $1,933,000 after buying an additional 40 shares during the period. Prism Advisors Inc. purchased a new stake in Eli Lilly and Company during the 1st quarter valued at $207,000. CSM Advisors LLC raised its holdings in Eli Lilly and Company by 30.6% during the 4th quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock valued at $807,000 after buying an additional 245 shares during the period. Finally, Hemington Wealth Management raised its holdings in Eli Lilly and Company by 14.4% during the 1st quarter. Hemington Wealth Management now owns 985 shares of the company's stock valued at $813,000 after buying an additional 124 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Jamere Jackson acquired 200 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were bought at an average price of $639.56 per share, with a total value of $127,912.00. Following the completion of the transaction, the director directly owned 9,402 shares in the company, valued at $6,013,143.12. This trade represents a 2.17% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on LLY. Leerink Partners restated a "market perform" rating and set a $715.00 price target on shares of Eli Lilly and Company in a report on Thursday. Guggenheim increased their target price on 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. HSBC lowered Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their target price for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. UBS Group reduced their target price on Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating on the stock in a research note on Friday. Finally, Hsbc Global Res lowered Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of "Moderate Buy" and an average target price of $990.89.

Eli Lilly and Company Stock Down 2.5%

Shares of Eli Lilly and Company stock traded down $15.71 during trading on Friday, hitting $625.15. 14,089,857 shares of the stock traded hands, compared to its average volume of 4,833,475. The firm has a market cap of $592.48 billion, a P/E ratio of 40.86, a price-to-earnings-growth ratio of 0.89 and a beta of 0.44. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. Eli Lilly and Company has a 52-week low of $623.78 and a 52-week high of $972.53. The stock's fifty day simple moving average is $774.10 and its 200 day simple moving average is $799.11.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $6.31 EPS for the quarter, beating the consensus estimate of $5.59 by $0.72. The firm had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.40 billion. Eli Lilly and Company had a return on equity of 98.25% and a net margin of 25.91%. The business's revenue for the quarter was up 37.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.92 earnings per share. On average, equities analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

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. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a yield of 1.0%. Eli Lilly and Company's dividend payout ratio (DPR) is presently 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.