Eli Lilly and Company (NYSE:LLY) is Primecap Management Co. CA's Largest Position

Key Points

• Primecap Management Co. CA has reduced its stake in Eli Lilly and Company by 11.8%, now holding approximately 14.78 million shares, valued at over $12.20 billion.
• Eli Lilly's shares are currently trading at $766.47, with a 12-month low of $677.09 and a high of $972.53, indicating significant volatility in its stock performance.
• The company recently declared a quarterly dividend of $1.50, representing a dividend yield of 0.8%, scheduled for payment on September 10th.

Primecap Management Co. CA reduced its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 11.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 14,779,770 shares of the company's stock after selling 1,976,884 shares during the quarter. Eli Lilly and Company accounts for approximately 10.1% of Primecap Management Co. CA's portfolio, making the stock its largest holding. Primecap Management Co. CA owned 1.56% of Eli Lilly and Company worth $12,206,760,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in Eli Lilly and Company by 97.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock worth $83,669,349,000 after acquiring an additional 50,002,551 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Eli Lilly and Company by 103,831.6% during the first 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 in the last quarter. Vanguard Group Inc. increased its position in shares of Eli Lilly and Company by 6.7% in the first quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company's stock worth $65,432,218,000 after purchasing an additional 4,975,395 shares during the last quarter. Capital International Investors increased its position in shares of Eli Lilly and Company by 23.2% in the fourth 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 raised its stake in Eli Lilly and Company by 16.1% in the fourth 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. Institutional investors own 82.53% of the company's stock.

Analysts Set New Price Targets

LLY has been the subject of several research reports. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. UBS Group cut their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Cantor Fitzgerald assumed 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. Hsbc Global Res lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $1,135.00 target price (up previously from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $999.50.

Eli Lilly and Company Stock Down 14.2%

LLY stock traded down $106.20 during midday trading on Thursday, hitting $640.17. The stock had a trading volume of 26,056,463 shares, compared to its average volume of 3,684,957. The business has a 50-day moving average of $776.36 and a two-hundred day moving average of $799.60. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. The firm has a market cap of $606.71 billion, a price-to-earnings ratio of 52.09, a price-to-earnings-growth ratio of 1.06 and a beta of 0.44. Eli Lilly and Company has a 52-week low of $633.20 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.59 by $0.72. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The company had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.40 billion. During the same period last year, the business earned $3.92 EPS. Eli Lilly and Company's quarterly revenue was up 37.6% compared to the same quarter last year. As a group, equities 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 given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is 48.82%.

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.