Eli Lilly and Company (NYSE:LLY) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board decreased its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,808 shares of the company's stock after selling 800 shares during the period. Eli Lilly and Company makes up approximately 1.1% of New Mexico Educational Retirement Board's holdings, making the stock its 12th largest position. New Mexico Educational Retirement Board's holdings in Eli Lilly and Company were worth $30,400,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Garner Asset Management Corp raised its stake in shares of Eli Lilly and Company by 2.3% in the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after buying an additional 12 shares during the period. Morling Financial Advisors LLC increased its stake in Eli Lilly and Company by 4.7% in the 4th quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock worth $205,000 after acquiring an additional 12 shares during the last quarter. Prestige Wealth Management Group LLC increased its position in shares of Eli Lilly and Company by 2.0% during the 4th quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company's stock valued at $468,000 after purchasing an additional 12 shares during the last quarter. Applied Finance Capital Management LLC increased its position in shares of Eli Lilly and Company by 1.4% during the 4th quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock valued at $660,000 after purchasing an additional 12 shares during the last quarter. Finally, Tobias Financial Advisors Inc. grew its position in Eli Lilly and Company by 4.1% in the 4th quarter. Tobias Financial Advisors Inc. now owns 307 shares of the company's stock valued at $237,000 after acquiring an additional 12 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Eli Lilly and Company Price Performance

LLY stock traded up $9.34 during mid-day trading on Wednesday, reaching $787.00. 2,701,662 shares of the company's stock were exchanged, compared to its average volume of 3,663,522. The company has a market cap of $745.87 billion, a price-to-earnings ratio of 64.04, a price-to-earnings-growth ratio of 1.13 and a beta of 0.40. The stock's 50 day moving average is $769.37 and its 200 day moving average is $800.14. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.30). The firm had revenue of $12.73 billion during the quarter, compared to analysts' expectations of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The business's revenue was up 45.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.58 EPS. On average, research analysts expect that Eli Lilly and Company will post 23.48 EPS 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 paid a dividend of $1.50 per share. The ex-dividend date is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.76%. Eli Lilly and Company's dividend payout ratio (DPR) is 48.82%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on LLY shares. Erste Group Bank cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their target price for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. Wall Street Zen downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. HSBC downgraded shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their price objective for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. Finally, UBS Group lowered their target price on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,011.61.

About Eli Lilly and Company

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.