New Mexico Educational Retirement Board Reduces Holdings in Eli Lilly and Company (NYSE:LLY)

New Mexico Educational Retirement Board cut its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 2.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,808 shares of the company's stock after selling 800 shares during the period. Eli Lilly and Company makes up about 1.1% of New Mexico Educational Retirement Board's holdings, making the stock its 12th largest holding. 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 Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Rehmann Capital Advisory Group grew its position in Eli Lilly and Company by 12.5% in the first quarter. Rehmann Capital Advisory Group now owns 4,849 shares of the company's stock worth $4,006,000 after acquiring an additional 538 shares during the period. Cornerstone Planning Group LLC lifted its stake in Eli Lilly and Company by 303.7% during the first quarter. Cornerstone Planning Group LLC now owns 432 shares of the company's stock worth $358,000 after purchasing an additional 325 shares in the last quarter. Dogwood Wealth Management LLC lifted its stake in Eli Lilly and Company by 10.7% during the first quarter. Dogwood Wealth Management LLC now owns 955 shares of the company's stock worth $789,000 after purchasing an additional 92 shares in the last quarter. GFG Capital LLC lifted its stake in Eli Lilly and Company by 134.3% during the first quarter. GFG Capital LLC now owns 724 shares of the company's stock worth $598,000 after purchasing an additional 415 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC lifted its stake in Eli Lilly and Company by 1,096.2% during the first quarter. MeadowBrook Investment Advisors LLC now owns 311 shares of the company's stock worth $257,000 after purchasing an additional 285 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of research reports. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their price target for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Wall Street Zen cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price target on the stock. Finally, Hsbc Global Res cut Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $1,012.22.

Eli Lilly and Company Stock Up 0.8%

NYSE:LLY traded up $6.11 during trading hours on Thursday, hitting $793.03. The company's stock had a trading volume of 1,377,274 shares, compared to its average volume of 3,810,895. The stock has a market capitalization of $751.59 billion, a P/E ratio of 64.53, a price-to-earnings-growth ratio of 1.14 and a beta of 0.40. The stock has a fifty day moving average of $767.12 and a 200-day moving average of $800.05. 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 $677.09 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). The business 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 quarterly revenue was up 45.2% compared to the same quarter last year. During the same period last year, the company earned $2.58 EPS. On average, equities analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

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.