Ontario Teachers Pension Plan Board Sells 37,299 Shares of Eli Lilly and Company (NYSE:LLY)

Key Points

• The Ontario Teachers Pension Plan Board has reduced its stake in Eli Lilly and Company by 12.0%, now holding 272,741 shares valued at approximately $225.26 million.
• Institutional investors collectively own 82.53% of Eli Lilly's stock, with several hedge funds significantly increasing their positions, including PNC Financial Services, which grew its holdings by 97.5%.
• Analyst ratings for Eli Lilly show a consensus of "Moderate Buy", with a new average price target of $1,012.56, reflecting a positive outlook on the stock.

Ontario Teachers Pension Plan Board trimmed its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 12.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 272,741 shares of the company's stock after selling 37,299 shares during the quarter. Eli Lilly and Company accounts for 3.3% of Ontario Teachers Pension Plan Board's portfolio, making the stock its 12th largest position. Ontario Teachers Pension Plan Board's holdings in Eli Lilly and Company were worth $225,260,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its holdings in shares of Eli Lilly and Company by 97.5% in the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock valued at $83,669,349,000 after purchasing an additional 50,002,551 shares in the last quarter. GAMMA Investing LLC lifted its stake in Eli Lilly and Company by 103,831.6% in the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock valued at $12,278,292,000 after acquiring an additional 14,852,076 shares in the last quarter. Vanguard Group Inc. lifted its stake in Eli Lilly and Company by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company's stock valued at $65,432,218,000 after acquiring an additional 4,975,395 shares in the last quarter. Capital International Investors lifted its stake in Eli Lilly and Company by 23.2% in the 4th quarter. Capital International Investors now owns 8,730,758 shares of the company's stock valued at $6,740,272,000 after acquiring an additional 1,645,222 shares in the last quarter. Finally, Capital Research Global Investors lifted its stake in Eli Lilly and Company by 16.1% in the 4th quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock valued at $8,304,811,000 after acquiring an additional 1,493,673 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

Insider Activity at Eli Lilly and Company

In related news, Director Jamere Jackson acquired 200 shares of the stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $639.56 per share, for a total transaction of $127,912.00. Following the purchase, the director directly owned 9,402 shares in the company, valued at approximately $6,013,143.12. The trade was a 2.17% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.13% of the company's stock.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock traded down $15.71 during trading hours on Friday, hitting $625.15. The company had a trading volume of 14,089,857 shares, compared to its average volume of 4,833,475. The firm has a market cap of $592.48 billion, a PE ratio of 40.86, a PEG ratio of 0.91 and a beta of 0.44. 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 one year low of $623.78 and a one year high of $972.53. The firm has a 50-day moving average of $774.10 and a 200 day moving average of $798.80.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, topping analysts' consensus estimates of $5.59 by $0.72. The company 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 firm's quarterly revenue was up 37.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.92 earnings per share. On average, sell-side analysts expect 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. Stockholders of record on Friday, August 15th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 1.0%. Eli Lilly and Company's dividend payout ratio (DPR) is currently 48.82%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on LLY shares. Guggenheim boosted their price objective on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Erste Group Bank cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Morgan Stanley reissued an "overweight" rating and set a $1,135.00 price target (up from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. Leerink Partners reiterated a "market perform" rating and set a $715.00 target price on shares of Eli Lilly and Company in a report on Thursday. Finally, HSBC lowered Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their target price for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Eli Lilly and Company presently has an average rating of "Moderate Buy" and a consensus price target of $990.89.

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.