Eli Lilly and Company (NYSE:LLY) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 662,352 shares of the company's stock after selling 31,273 shares during the period. Eli Lilly and Company makes up approximately 1.3% of New York State Teachers Retirement System's investment portfolio, making the stock its 12th biggest holding. New York State Teachers Retirement System owned approximately 0.07% of Eli Lilly and Company worth $547,043,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. GAMMA Investing LLC grew its holdings in shares of Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after purchasing an additional 14,852,076 shares during the last quarter. Norges Bank purchased a new stake in Eli Lilly and Company in the 4th quarter valued at about $8,407,908,000. Wellington Management Group LLP grew its stake in Eli Lilly and Company by 19.0% in the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after acquiring an additional 2,012,129 shares in the last quarter. Capital International Investors increased its position in shares of Eli Lilly and Company by 23.2% during the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company's stock worth $6,740,272,000 after acquiring an additional 1,645,222 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Eli Lilly and Company during the fourth quarter valued at approximately $1,240,653,000. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

Shares of LLY traded up $3.06 during trading hours on Wednesday, hitting $778.96. The stock had a trading volume of 1,977,577 shares, compared to its average volume of 3,671,348. The firm has a 50-day moving average price of $778.38 and a 200 day moving average price of $799.85. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The firm has a market capitalization of $738.25 billion, a price-to-earnings ratio of 63.38, a PEG ratio of 1.13 and a beta of 0.40. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The firm had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. During the same period in the previous year, the company earned $2.58 earnings per share. The company's revenue was up 45.2% compared to the same quarter last year. As a group, research analysts anticipate that Eli Lilly and Company will post 23.48 EPS 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. Stockholders 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 dividend yield of 0.77%. Eli Lilly and Company's dividend payout ratio (DPR) is 48.82%.

Analysts Set New Price Targets

LLY has been the topic of several research reports. UBS Group reduced their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Hsbc Global Res lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. Cantor Fitzgerald began coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 target price on the stock. Guggenheim restated a "buy" rating and set a $936.00 target price on shares of Eli Lilly and Company in a report on Friday, June 20th. Finally, Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. 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's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target 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.