Russell Investments Group Ltd. lessened its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 9.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 655,627 shares of the company's stock after selling 68,889 shares during the quarter. Eli Lilly and Company accounts for about 0.7% of Russell Investments Group Ltd.'s investment portfolio, making the stock its 13th largest position. Russell Investments Group Ltd. owned 0.07% of Eli Lilly and Company worth $541,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also modified their holdings of LLY. WestEnd Advisors LLC increased its holdings in Eli Lilly and Company by 210.0% during the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after purchasing an additional 21 shares in the last quarter. Citizens National Bank Trust Department increased its holdings in Eli Lilly and Company by 180.0% during the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after purchasing an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in Eli Lilly and Company during the 1st quarter valued at $40,000. Mascagni Wealth Management Inc. acquired a new stake in Eli Lilly and Company during the 4th quarter valued at $43,000. Finally, O Brien Wealth Partners LLC increased its holdings in Eli Lilly and Company by 25.5% during the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock valued at $49,000 after purchasing an additional 12 shares in the last quarter. Institutional investors own 82.53% of the company's stock.
Wall Street Analyst Weigh In
LLY has been the subject of a number of recent analyst reports. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Erste Group Bank cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Deutsche Bank Aktiengesellschaft lowered their target price on Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating for the company in a research note on Monday. Morgan Stanley reissued an "overweight" rating and issued a $1,135.00 target price (up from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. Finally, Leerink Partnrs cut Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of "Moderate Buy" and an average price target of $964.88.
View Our Latest Stock Report on LLY
Insider Buying and Selling
In other news, CEO David A. Ricks purchased 1,632 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were bought at an average cost of $644.77 per share, for a total transaction of $1,052,264.64. Following the completion of the acquisition, the chief executive officer directly owned 546,601 shares in the company, valued at approximately $352,431,926.77. This trade represents a 0.30% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel Skovronsky purchased 1,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was purchased at an average price of $634.40 per share, for a total transaction of $634,400.00. Following the completion of the acquisition, the executive vice president owned 137,660 shares of the company's stock, valued at approximately $87,331,504. This represents a 0.73% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 4,514 shares of company stock valued at $2,894,841. Corporate insiders own 0.13% of the company's stock.
Eli Lilly and Company Trading Up 3.8%
Shares of Eli Lilly and Company stock traded up $24.78 during trading on Thursday, reaching $685.27. 8,337,362 shares of the company were exchanged, compared to its average volume of 4,136,313. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. Eli Lilly and Company has a twelve month low of $623.78 and a twelve month high of $972.53. The business has a 50-day moving average price of $767.52 and a 200-day moving average price of $796.25. The firm has a market capitalization of $648.58 billion, a price-to-earnings ratio of 44.79, a P/E/G ratio of 0.90 and a beta of 0.44.
Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its 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 firm had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.40 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%. The company's revenue for the quarter was up 37.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.92 earnings per share. Sell-side analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.
Eli Lilly and Company Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is 39.22%.
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.
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