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

Eli Lilly and Company logo with Medical background

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.

View Our Latest Research Report on Eli Lilly and Company

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

(Free Report)

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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Institutional Ownership by Quarter for Eli Lilly and Company (NYSE:LLY)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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