Synovus Financial Corp Reduces Stock Holdings in Eli Lilly and Company $LLY

Key Points

• Synovus Financial Corp reduced its stake in Eli Lilly by 1.8%, now owning 105,336 shares valued at approximately $87 million, making it the 17th largest position in their portfolio.
• Multiple institutional investors, including Corient IA LLC and Hemington Wealth Management, have either increased their stakes or made new investments in Eli Lilly during the first quarter.
• Eli Lilly reported earnings of $6.31 EPS, exceeding expectations, and is set to pay a quarterly dividend of $1.50 with a yield of 0.8% on September 10th.

Synovus Financial Corp reduced its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 1.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 105,336 shares of the company's stock after selling 1,884 shares during the period. Eli Lilly and Company accounts for about 1.1% of Synovus Financial Corp's holdings, making the stock its 17th biggest position. Synovus Financial Corp's holdings in Eli Lilly and Company were worth $87,001,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Corient IA LLC acquired a new stake in shares of Eli Lilly and Company in the first quarter valued at approximately $570,000. LS Investment Advisors LLC boosted its holdings in shares of Eli Lilly and Company by 1.7% in the first quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock valued at $1,933,000 after acquiring an additional 40 shares during the period. Prism Advisors Inc. acquired a new stake in shares of Eli Lilly and Company in the first quarter valued at approximately $207,000. Hemington Wealth Management boosted its holdings in shares of Eli Lilly and Company by 14.4% in the first quarter. Hemington Wealth Management now owns 985 shares of the company's stock valued at $813,000 after acquiring an additional 124 shares during the period. Finally, Bfsg LLC boosted its holdings in shares of Eli Lilly and Company by 1.4% in the first quarter. Bfsg LLC now owns 2,959 shares of the company's stock valued at $2,444,000 after acquiring an additional 42 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, Director Gabrielle Sulzberger acquired 117 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was purchased at an average price of $641.18 per share, for a total transaction of $75,018.06. Following the completion of the transaction, the director owned 2,703 shares of the company's stock, valued at $1,733,109.54. The trade was a 4.52% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jamere Jackson acquired 200 shares of the business's stock in a transaction on Friday, August 8th. The stock was acquired at an average price of $639.56 per share, with a total value of $127,912.00. Following the transaction, the director directly owned 9,402 shares of the company's stock, valued at $6,013,143.12. This represents a 2.17% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 4,514 shares of company stock valued at $2,894,841 in the last three months. Insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Hsbc Global Res downgraded Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. Guggenheim decreased their price target on Eli Lilly and Company from $942.00 to $875.00 and set a "buy" rating for the company in a report on Wednesday, August 13th. HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their price target for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $1,135.00 price target (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 Strong Buy rating, fourteen have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Eli Lilly and Company has an average rating of "Moderate Buy" and a consensus target price of $950.17.

Eli Lilly and Company Trading Up 0.1%

NYSE:LLY opened at $710.7290 on Friday. The stock has a fifty day moving average price of $754.70 and a two-hundred day moving average price of $790.53. The stock has a market capitalization of $672.67 billion, a price-to-earnings ratio of 46.45, a PEG ratio of 0.99 and a beta of 0.44. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28. Eli Lilly and Company has a 1 year low of $623.78 and a 1 year high of $972.48.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.59 by $0.72. The firm had revenue of $15.56 billion during the quarter, compared to analysts' expectations of $14.40 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.Eli Lilly and Company's revenue was up 37.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.92 earnings per share. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a $1.50 dividend. The ex-dividend date is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.8%. Eli Lilly and Company's dividend payout ratio is presently 39.22%.

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.

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