Eli Lilly and Company (NYSE:LLY) Shares Sold by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB has reduced its stake in Eli Lilly and Company by 4.5%, owning 321,385 shares after selling 15,214 shares in the first quarter.
• Several hedge funds have increased their positions in Eli Lilly, with WestEnd Advisors LLC lifting their stake by 210% in the same period.
• Eli Lilly announced a quarterly dividend of $1.50, payable on September 10th, with an annualized yield of 0.75% and a payout ratio of 48.82%.

Skandinaviska Enskilda Banken AB publ trimmed its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 4.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 321,385 shares of the company's stock after selling 15,214 shares during the period. Eli Lilly and Company accounts for approximately 1.3% of Skandinaviska Enskilda Banken AB publ's holdings, making the stock its 12th biggest position. Skandinaviska Enskilda Banken AB publ's holdings in Eli Lilly and Company were worth $265,435,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LLY. WestEnd Advisors LLC raised its stake in shares of Eli Lilly and Company by 210.0% in the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after buying an additional 21 shares in the last quarter. Citizens National Bank Trust Department grew its stake in shares of 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 worth $35,000 after acquiring an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new position in shares of Eli Lilly and Company in the first quarter valued at $40,000. Mascagni Wealth Management Inc. bought a new position in Eli Lilly and Company during the fourth quarter worth $43,000. Finally, O Brien Wealth Partners LLC boosted its position in shares of Eli Lilly and Company by 25.5% in the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock valued at $49,000 after acquiring an additional 12 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY traded up $2.58 during trading on Monday, hitting $815.27. 1,099,933 shares of the stock were exchanged, compared to its average volume of 3,749,341. The company has a fifty day moving average price of $771.95 and a two-hundred day moving average price of $800.61. The company has a market cap of $772.66 billion, a PE ratio of 66.29, a P/E/G ratio of 1.18 and a beta of 0.40. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly 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 return on equity of 85.51% and a net margin of 22.67%. The firm had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. During the same period last year, the firm earned $2.58 EPS. Eli Lilly and Company's revenue was up 45.2% compared to the same quarter last year. On average, analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors 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 yield of 0.74%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is currently 48.82%.

Analyst Ratings Changes

Several research analysts have commented on LLY shares. HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their target price for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Wall Street Zen upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Saturday. Morgan Stanley restated an "overweight" rating and set a $1,135.00 price objective (up from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. Guggenheim lifted their price objective on Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their price target for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Eli Lilly and Company currently has an average rating of "Moderate Buy" and a consensus target price of $1,012.56.

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.