Eli Lilly and Company (NYSE:LLY) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. reduced its holdings in Eli Lilly and Company by 35.8% during the first quarter, owning 40,247 shares valued at approximately $33.24 million.
• Wall Street analysts have varied ratings for Eli Lilly, with 17 analysts assigning a "buy" rating and a consensus price target of $1,012.56, despite some institutions lowering their ratings.
• Eli Lilly has announced a quarterly dividend of $1.50, resulting in an annualized dividend yield of 0.74%, with a dividend payout ratio of 48.82%.

Pacer Advisors Inc. decreased its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 35.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,247 shares of the company's stock after selling 22,486 shares during the quarter. Pacer Advisors Inc.'s holdings in Eli Lilly and Company were worth $33,240,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Knightsbridge Asset Management LLC raised its position in Eli Lilly and Company by 1.9% during the 4th quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock worth $628,000 after purchasing an additional 15 shares during the last quarter. LS Investment Advisors LLC raised its position in Eli Lilly and Company by 1.7% during the 1st quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock worth $1,933,000 after purchasing an additional 40 shares during the last quarter. Prism Advisors Inc. bought a new position in Eli Lilly and Company during the 1st quarter worth $207,000. CSM Advisors LLC raised its position in Eli Lilly and Company by 30.6% during the 4th quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock worth $807,000 after purchasing an additional 245 shares during the last quarter. Finally, Bfsg LLC raised its position in Eli Lilly and Company by 1.4% during the 1st quarter. Bfsg LLC now owns 2,959 shares of the company's stock worth $2,444,000 after purchasing an additional 42 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on LLY shares. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Erste Group Bank downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. UBS Group cut their price target on 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. Morgan Stanley reiterated an "overweight" rating and set a $1,135.00 price target (up previously from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. Finally, Guggenheim lifted their price target on Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a research note on Friday, July 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,012.56.

Eli Lilly and Company Stock Performance

Shares of LLY stock traded down $39.64 during trading hours on Tuesday, hitting $768.47. The company's stock had a trading volume of 3,635,747 shares, compared to its average volume of 3,756,908. The company has a 50 day moving average of $773.01 and a 200 day moving average of $800.67. The stock has a market cap of $728.31 billion, a PE ratio of 62.53, a price-to-earnings-growth ratio of 1.18 and a beta of 0.40. 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 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 quarterly 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 firm had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The firm's quarterly revenue was up 45.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.58 EPS. On average, sell-side analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's payout ratio is currently 48.82%.

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.