Pineridge Advisors LLC Sells 1,109 Shares of Eli Lilly and Company (NYSE:LLY)

Pineridge Advisors LLC trimmed its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 88.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 141 shares of the company's stock after selling 1,109 shares during the quarter. Pineridge Advisors LLC's holdings in Eli Lilly and Company were worth $116,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. GAMMA Investing LLC lifted its holdings in Eli Lilly and Company by 103,831.6% during the 1st 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 acquired a new stake in Eli Lilly and Company during the 4th quarter worth approximately $8,407,908,000. Wellington Management Group LLP lifted its holdings in Eli Lilly and Company by 19.0% during the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after purchasing an additional 2,012,129 shares during the last quarter. Capital International Investors lifted its holdings in Eli Lilly and Company by 23.2% during the 4th quarter. Capital International Investors now owns 8,730,758 shares of the company's stock worth $6,740,272,000 after purchasing an additional 1,645,222 shares during the last quarter. Finally, Capital Research Global Investors lifted its holdings in Eli Lilly and Company by 16.1% during the 4th quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock worth $8,304,811,000 after purchasing an additional 1,493,673 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on LLY shares. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their price target for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price objective for the company. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, Guggenheim reissued a "buy" rating and set a $936.00 price target on shares of Eli Lilly and Company in a report on Friday, June 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,011.61.

Eli Lilly and Company Trading Up 1.2%

Shares of LLY stock opened at $787.00 on Thursday. The firm has a market capitalization of $745.87 billion, a P/E ratio of 64.04, a P/E/G ratio of 1.14 and a beta of 0.40. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18. The stock's fifty day simple moving average is $767.12 and its 200 day simple moving average is $800.05.

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 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 company 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 EPS. The company's quarterly revenue was up 45.2% on a year-over-year basis. As a group, sell-side analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a $1.50 dividend. 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 0.76%. Eli Lilly and Company's dividend payout ratio (DPR) is presently 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.

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