State of New Jersey Common Pension Fund D Reduces Holdings in Eli Lilly and Company (NYSE:LLY)

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Eli Lilly and Company by 8.6%, resulting in holdings worth $224.45 million.
• Eli Lilly reported a 37.6% increase in year-over-year quarterly revenue, reaching $15.56 billion, and earnings per share (EPS) of $6.31, surpassing estimates by $0.72.
• The company declared a quarterly dividend of $1.50 per share, with an annualized dividend yield of 0.9%, scheduled for payment on September 10th.

State of New Jersey Common Pension Fund D lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 271,759 shares of the company's stock after selling 25,551 shares during the period. Eli Lilly and Company accounts for approximately 1.0% of State of New Jersey Common Pension Fund D's investment portfolio, making the stock its 16th biggest position. State of New Jersey Common Pension Fund D's holdings in Eli Lilly and Company were worth $224,448,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of Eli Lilly and Company by 22.0% in the 4th quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock valued at $7,409,000 after buying an additional 1,730 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Eli Lilly and Company by 2.8% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock worth $1,136,000 after acquiring an additional 40 shares during the last quarter. Orion Capital Management LLC lifted its holdings in shares of Eli Lilly and Company by 2.5% in the 4th quarter. Orion Capital Management LLC now owns 1,610 shares of the company's stock worth $1,243,000 after acquiring an additional 40 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in shares of Eli Lilly and Company by 4.1% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 64,758 shares of the company's stock worth $49,993,000 after acquiring an additional 2,568 shares during the last quarter. Finally, Breed s Hill Capital LLC lifted its holdings in shares of Eli Lilly and Company by 212.0% in the 4th quarter. Breed s Hill Capital LLC now owns 1,426 shares of the company's stock worth $1,101,000 after acquiring an additional 969 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Up 2.5%

Shares of LLY traded up $17.08 during midday trading on Friday, reaching $701.51. The stock had a trading volume of 8,211,278 shares, compared to its average volume of 6,346,453. Eli Lilly and Company has a 1-year low of $623.78 and a 1-year high of $972.53. The company's fifty day simple moving average is $764.55 and its two-hundred day simple moving average is $794.63. The company has a market cap of $663.95 billion, a price-to-earnings ratio of 45.85, a PEG ratio of 0.98 and a beta of 0.44. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00.

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

Eli Lilly and Company Dividend Announcement

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 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 dividend payout ratio (DPR) is presently 39.22%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LLY. Deutsche Bank Aktiengesellschaft decreased their price objective 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, August 11th. UBS Group decreased their price objective on shares of Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Hsbc Global Res lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. Cantor Fitzgerald decreased their price objective on shares of Eli Lilly and Company from $975.00 to $825.00 and set an "overweight" rating on the stock in a report on Wednesday. Finally, Morgan Stanley restated an "overweight" rating and issued a $1,135.00 price objective (up from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and a consensus price target of $964.88.

Insiders Place Their Bets

In related news, Director J Erik Fyrwald bought 1,565 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were purchased at an average cost of $642.33 per share, with a total value of $1,005,246.45. Following the transaction, the director directly owned 74,578 shares of the company's stock, valued at approximately $47,903,686.74. This represents a 2.14% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Daniel Skovronsky bought 1,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was bought at an average cost of $634.40 per share, for a total transaction of $634,400.00. Following the completion of the transaction, the executive vice president directly owned 137,660 shares in the company, valued at approximately $87,331,504. The trade was a 0.73% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 4,514 shares of company stock worth $2,894,841. 0.13% of the stock is currently owned by insiders.

Eli Lilly and 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.