OVERSEA CHINESE BANKING Corp Ltd Has $493.25 Million Holdings in Eli Lilly and Company (NYSE:LLY)

OVERSEA CHINESE BANKING Corp Ltd boosted its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 4,588.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 597,224 shares of the company's stock after purchasing an additional 584,487 shares during the quarter. Eli Lilly and Company makes up 2.3% of OVERSEA CHINESE BANKING Corp Ltd's investment portfolio, making the stock its 9th largest position. OVERSEA CHINESE BANKING Corp Ltd owned about 0.06% of Eli Lilly and Company worth $493,253,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in shares of 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. Norges Bank purchased a new stake in shares of Eli Lilly and Company in the 4th quarter valued at about $8,407,908,000. Wellington Management Group LLP raised its holdings in shares of 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 valued at $9,747,214,000 after acquiring an additional 2,012,129 shares in the last quarter. Capital International Investors raised its holdings in shares of 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 raised its holdings in shares of 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. Institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Price Performance

LLY opened at $793.34 on Monday. 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 has a 52-week low of $677.09 and a 52-week high of $972.53. The stock has a market capitalization of $751.88 billion, a PE ratio of 64.55, a price-to-earnings-growth ratio of 1.16 and a beta of 0.40. The stock's 50 day moving average price is $766.39 and its 200-day moving average price is $800.06.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly 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). Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The firm had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same quarter in the prior year, the firm earned $2.58 earnings per share. The company's revenue for the quarter was up 45.2% compared to the same quarter last year. On average, equities research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders 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 48.82%.

Analyst Ratings Changes

Several research firms have weighed in on LLY. Erste Group Bank cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. Wall Street Zen cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. Finally, Cantor Fitzgerald began coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,012.56.

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.

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