Eli Lilly and Company (NYSE:LLY) is Tredje AP fonden's 9th Largest Position

Key Points

• Tredje AP fonden increased its stake in Eli Lilly and Company by 6.9% in the first quarter, making it the 9th largest position in its portfolio with 256,573 shares valued at approximately $211.9 million.
• Analysts have set mixed ratings for Eli Lilly, with a consensus of 17 buy ratings, 1 sell, and 3 hold ratings, while lowering price targets from a high of $1,150 to as low as $700.
• The company recently reported quarterly earnings of $3.34 EPS, missing expectations, although it experienced year-over-year revenue growth of 45.2%.

Tredje AP fonden lifted its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 6.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 256,573 shares of the company's stock after buying an additional 16,450 shares during the quarter. Eli Lilly and Company comprises 2.0% of Tredje AP fonden's portfolio, making the stock its 9th largest position. Tredje AP fonden's holdings in Eli Lilly and Company were worth $211,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Garner Asset Management Corp grew its holdings in shares of Eli Lilly and Company by 2.3% in the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after acquiring an additional 12 shares during the period. Applied Finance Capital Management LLC lifted its stake in shares of Eli Lilly and Company by 1.4% in the 4th quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock worth $660,000 after purchasing an additional 12 shares during the period. Tobias Financial Advisors Inc. grew its position in Eli Lilly and Company by 4.1% during the fourth quarter. Tobias Financial Advisors Inc. now owns 307 shares of the company's stock valued at $237,000 after buying an additional 12 shares during the period. Redwood Investments LLC increased its holdings in Eli Lilly and Company by 0.5% during the fourth quarter. Redwood Investments LLC now owns 2,209 shares of the company's stock valued at $1,705,000 after buying an additional 12 shares during the last quarter. Finally, Hobbs Wealth Management LLC increased its holdings in Eli Lilly and Company by 0.8% during the first quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company's stock valued at $1,205,000 after buying an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on LLY shares. UBS Group reduced their price objective on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. HSBC lowered shares of 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 report on Monday, April 28th. Erste Group Bank lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. 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. Finally, Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,012.56.

Eli Lilly and Company Stock Performance

NYSE LLY traded down $3.19 during trading hours on Wednesday, hitting $759.76. The company had a trading volume of 4,331,834 shares, compared to its average volume of 2,949,040. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18. The business has a fifty day simple moving average of $774.07 and a 200-day simple moving average of $800.13. The firm has a market cap of $720.05 billion, a P/E ratio of 61.82, a price-to-earnings-growth ratio of 1.08 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (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 business had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. During the same period in the previous year, the company posted $2.58 EPS. The company's revenue for the quarter was up 45.2% compared to the same quarter last year. Equities analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors 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 dividend on an annualized basis and a dividend yield of 0.79%. Eli Lilly and Company's dividend payout ratio (DPR) is 48.82%.

About Eli Lilly and Company

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.