Eli Lilly and Company (NYSE:LLY) Stake Lessened by USS Investment Management Ltd

USS Investment Management Ltd cut its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 0.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 159,714 shares of the company's stock after selling 889 shares during the period. Eli Lilly and Company accounts for approximately 0.9% of USS Investment Management Ltd's holdings, making the stock its 26th biggest holding. USS Investment Management Ltd's holdings in Eli Lilly and Company were worth $123,393,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in LLY. Vanguard Group Inc. boosted its position in Eli Lilly and Company by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company's stock worth $57,320,226,000 after purchasing an additional 475,530 shares during the period. Geode Capital Management LLC boosted its position in Eli Lilly and Company by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock worth $13,389,651,000 after purchasing an additional 291,875 shares during the period. Wellington Management Group LLP boosted its position in Eli Lilly and Company by 19.0% during the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after purchasing an additional 2,012,129 shares during the period. Norges Bank purchased a new stake in Eli Lilly and Company during the 4th quarter worth $8,407,908,000. Finally, Capital Research Global Investors boosted its position in Eli Lilly and Company by 16.1% during the 4th quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock worth $8,304,811,000 after purchasing an additional 1,493,673 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

LLY traded down $10.11 on Thursday, hitting $714.84. 4,242,720 shares of the company's stock were exchanged, compared to its average volume of 3,616,535. The firm has a market cap of $677.48 billion, a PE ratio of 61.05, a P/E/G ratio of 1.40 and a beta of 0.48. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The stock has a fifty day moving average of $793.65 and a two-hundred day moving average of $804.27. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The business had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. During the same quarter last year, the company earned $2.58 EPS. Eli Lilly and Company's revenue was up 45.2% compared to the same quarter last year. On average, research 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Friday, May 16th. Eli Lilly and Company's dividend payout ratio (DPR) is 48.82%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. HSBC lowered shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their price objective for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. Truist Financial boosted their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, Citigroup cut their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,011.37.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. This trade represents a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.13% of the stock is owned by insiders.

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.