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Prudential PLC Sells 3,819 Shares of Eli Lilly and Company (NYSE:LLY)

Eli Lilly and Company logo with Medical background

Key Points

  • Prudential PLC has reduced its stake in Eli Lilly and Company by 5.6% during the first quarter, now holding 64,553 shares worth approximately $53.3 million.
  • Eli Lilly's shares recently experienced a 1.6% increase in price, bringing its market capitalization to $601.44 billion.
  • The company reported earnings of $6.31 per share for the last quarter, surpassing expectations and marking a 37.6% year-over-year revenue growth to $15.56 billion.
  • Want stock alerts on Eli Lilly and Company? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Prudential PLC lessened its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 5.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 64,553 shares of the company's stock after selling 3,819 shares during the quarter. Eli Lilly and Company makes up approximately 0.3% of Prudential PLC's portfolio, making the stock its 26th biggest holding. Prudential PLC's holdings in Eli Lilly and Company were worth $53,315,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of LLY. Resona Asset Management Co. Ltd. raised its holdings in Eli Lilly and Company by 7.7% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 267,921 shares of the company's stock valued at $221,137,000 after acquiring an additional 19,165 shares during the period. Rathbones Group PLC raised its holdings in Eli Lilly and Company by 18.1% during the 1st quarter. Rathbones Group PLC now owns 224,179 shares of the company's stock valued at $185,152,000 after acquiring an additional 34,433 shares during the period. Iyo Bank Ltd. raised its holdings in Eli Lilly and Company by 225.9% during the 1st quarter. Iyo Bank Ltd. now owns 2,366 shares of the company's stock valued at $1,954,000 after acquiring an additional 1,640 shares during the period. Ariadne Wealth Management LP raised its holdings in Eli Lilly and Company by 1.7% during the 1st quarter. Ariadne Wealth Management LP now owns 1,223 shares of the company's stock valued at $1,010,000 after acquiring an additional 20 shares during the period. Finally, Callan Family Office LLC raised its holdings in Eli Lilly and Company by 1.9% during the 1st quarter. Callan Family Office LLC now owns 22,926 shares of the company's stock valued at $18,935,000 after acquiring an additional 421 shares during the period. Institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Up 1.6%

Shares of NYSE:LLY opened at $635.46 on Tuesday. Eli Lilly and Company has a 52-week low of $623.78 and a 52-week high of $972.53. The firm has a fifty day moving average of $771.87 and a 200 day moving average of $798.30. The firm has a market capitalization of $601.44 billion, a PE ratio of 41.53, a price-to-earnings-growth ratio of 0.87 and a beta of 0.44. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, topping the consensus estimate of $5.59 by $0.72. The business had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The firm's revenue for the quarter was up 37.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.92 earnings per share. As a group, research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.9%. Eli Lilly and Company's payout ratio is currently 39.22%.

Analyst Ratings Changes

LLY has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating on the stock in a report on Monday. Morgan Stanley reissued an "overweight" rating and set a $1,135.00 target price (up previously from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. Hsbc Global Res cut shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. Erste Group Bank lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Finally, Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $977.65.

Get Our Latest Research Report on Eli Lilly and Company

Insiders Place Their Bets

In other Eli Lilly and Company news, Director Jamere Jackson purchased 200 shares of the stock in a transaction on Friday, August 8th. The stock was acquired at an average cost of $639.56 per share, with a total value of $127,912.00. Following the completion of the purchase, the director directly owned 9,402 shares of the company's stock, valued at approximately $6,013,143.12. This trade represents a 2.17% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by corporate insiders.

About Eli Lilly and Company

(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.

See Also

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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