Richard Bernstein Advisors LLC Trims Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Richard Bernstein Advisors LLC lowered its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 4.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,751 shares of the company's stock after selling 699 shares during the period. Richard Bernstein Advisors LLC's holdings in Eli Lilly and Company were worth $13,009,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Eli Lilly and Company by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company's stock worth $57,320,226,000 after buying an additional 475,530 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Eli Lilly and Company by 1.7% during 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 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 buying an additional 14,852,076 shares during the last quarter. 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 buying an additional 2,012,129 shares during the last quarter. Finally, Norges Bank bought a new position in Eli Lilly and Company during the 4th quarter worth approximately $8,407,908,000. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Down 1.0%

LLY opened at $772.82 on Tuesday. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. 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 stock has a market cap of $732.43 billion, a P/E ratio of 62.88, a P/E/G ratio of 1.14 and a beta of 0.40. The stock's 50 day moving average price is $771.52 and its 200 day moving average price is $800.30.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate 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 business had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same quarter in the prior year, the business earned $2.58 earnings per share. The firm's revenue was up 45.2% compared to the same quarter last year. As a group, research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is presently 48.82%.

Analyst Ratings Changes

A number of research firms have commented on LLY. HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their target price for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Guggenheim reiterated a "buy" rating and set a $936.00 price target on shares of Eli Lilly and Company in a research report on Friday, June 20th. Finally, Hsbc Global Res cut Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four 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 $1,011.61.

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.

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