Senator Investment Group LP Sells 42,728 Shares of Eli Lilly and Company $LLY

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Senator Investment Group LP trimmed its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 50.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 42,373 shares of the company's stock after selling 42,728 shares during the quarter. Eli Lilly and Company accounts for about 1.9% of Senator Investment Group LP's holdings, making the stock its 26th biggest holding. Senator Investment Group LP's holdings in Eli Lilly and Company were worth $34,996,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Redwood Investments LLC increased its position in Eli Lilly and Company by 0.5% during the 4th quarter. Redwood Investments LLC now owns 2,209 shares of the company's stock valued at $1,705,000 after purchasing an additional 12 shares during the period. Hobbs Wealth Management LLC increased its position in Eli Lilly and Company by 0.8% during the 1st quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company's stock valued at $1,205,000 after purchasing an additional 12 shares during the period. Hixon Zuercher LLC increased its position in Eli Lilly and Company by 0.7% during the 1st quarter. Hixon Zuercher LLC now owns 1,789 shares of the company's stock valued at $1,477,000 after purchasing an additional 12 shares during the period. O Brien Wealth Partners LLC grew its position in shares of Eli Lilly and Company by 25.5% in the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock worth $49,000 after buying an additional 12 shares during the period. Finally, Ascent Capital Management LLC grew its position in shares of Eli Lilly and Company by 2.5% in the 1st quarter. Ascent Capital Management LLC now owns 495 shares of the company's stock worth $409,000 after buying an additional 12 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Eli Lilly and Company news, EVP Daniel Skovronsky acquired 1,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased at an average cost of $634.40 per share, with a total value of $634,400.00. Following the transaction, the executive vice president owned 137,660 shares of the company's stock, valued at $87,331,504. This trade represents a 0.73% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jamere Jackson bought 200 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were purchased at an average price of $639.56 per share, with a total value of $127,912.00. Following the completion of the acquisition, the director directly owned 9,402 shares in the company, valued at $6,013,143.12. This trade represents a 2.17% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 4,514 shares of company stock worth $2,894,841. 0.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Leerink Partnrs downgraded shares of Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. Wall Street Zen raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft reduced 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 research report on Monday, August 11th. Finally, Guggenheim reduced their target price on shares of Eli Lilly and Company from $942.00 to $875.00 and set a "buy" rating on the stock in a research report on Wednesday, August 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $950.17.

Eli Lilly and Company Trading Down 0.3%

Shares of LLY stock opened at $698.89 on Tuesday. The stock's fifty day moving average is $763.06 and its two-hundred day moving average is $793.64. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28. The firm has a market capitalization of $661.47 billion, a P/E ratio of 45.68, a PEG ratio of 0.98 and a beta of 0.44. Eli Lilly and Company has a fifty-two week low of $623.78 and a fifty-two week high of $972.53.

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

Eli Lilly and Company Dividend Announcement

The firm 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 dividend 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 presently 39.22%.

Eli Lilly and Company Company Profile

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.

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.