Eli Lilly and Company (NYSE:LLY) Stake Reduced by Picton Mahoney Asset Management

Key Points

• Picton Mahoney Asset Management significantly reduced its holdings in Eli Lilly and Company by 53.4%, bringing their total shares to 37,083, valued at approximately $30.6 million.
• Eli Lilly's stock recently traded down by 5.5%, closing at $763.30, with an earnings miss reported at $3.34 per share compared to the consensus estimate of $4.64.
• The company announced a quarterly dividend of $1.50 per share, with an annualized yield of 0.79%, indicating a payout ratio of 48.82%.

Picton Mahoney Asset Management lessened its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 53.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,083 shares of the company's stock after selling 42,480 shares during the quarter. Eli Lilly and Company comprises about 0.5% of Picton Mahoney Asset Management's investment portfolio, making the stock its 19th biggest position. Picton Mahoney Asset Management's holdings in Eli Lilly and Company were worth $30,626,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in Eli Lilly and Company by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock worth $13,389,651,000 after buying an additional 291,875 shares during the last quarter. GAMMA Investing LLC lifted its stake 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 purchasing an additional 14,852,076 shares in the last quarter. Wellington Management Group LLP lifted its stake 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 purchasing an additional 2,012,129 shares in the last quarter. Capital Research Global Investors lifted its stake 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 purchasing an additional 1,493,673 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Eli Lilly and Company by 14.6% in the 4th quarter. Northern Trust Corp now owns 9,448,219 shares of the company's stock valued at $7,294,025,000 after purchasing an additional 1,204,337 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on LLY. UBS Group dropped their target price 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. 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 target price on the stock. Guggenheim raised their target price on Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a report on Friday, July 11th. Morgan Stanley reiterated an "overweight" rating and set a $1,135.00 target price (up from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. Finally, HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their target price for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,012.56.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY traded down $3.19 during trading on Wednesday, reaching $759.76. The stock had a trading volume of 4,331,834 shares, compared to its average volume of 3,787,427. Eli Lilly and Company has a one year low of $677.09 and a one year high of $972.53. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. The stock has a market cap of $720.05 billion, a PE ratio of 61.82, a P/E/G ratio of 1.15 and a beta of 0.40. The firm's 50 day moving average price is $773.36 and its two-hundred day moving average price is $800.41.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $12.77 billion. During the same quarter last year, the firm posted $2.58 earnings per share. Eli Lilly and Company's revenue was up 45.2% compared to the same quarter last year. On average, research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a dividend of $1.50 per share. The ex-dividend date is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a yield of 0.79%. 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.