Woodley Farra Manion Portfolio Management Inc. Trims Stake in Eli Lilly and Company (NYSE:LLY)

Key Points

• Woodley Farra Manion Portfolio Management Inc. has decreased its stake in Eli Lilly and Company by 2.6%, now holding 32,925 shares valued at approximately $27.19 million, making it the firm's 29th largest position.
• Institutional ownership remains high, with over 82.53% of Eli Lilly's stock held by institutional investors, including GAMMA Investing LLC, which increased its position dramatically by over 103,831% during the first quarter.
• Eli Lilly recently reported earnings of $3.34 per share for the latest quarter, missing estimates, with revenue reaching $12.73 billion, up 45.2% compared to the same period last year.

Woodley Farra Manion Portfolio Management Inc. decreased its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,925 shares of the company's stock after selling 882 shares during the quarter. Eli Lilly and Company makes up approximately 1.4% of Woodley Farra Manion Portfolio Management Inc.'s portfolio, making the stock its 29th largest position. Woodley Farra Manion Portfolio Management Inc.'s holdings in Eli Lilly and Company were worth $27,193,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in LLY. GAMMA Investing LLC grew its position in Eli Lilly and Company by 103,831.6% during the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock valued at $12,278,292,000 after acquiring an additional 14,852,076 shares during the last quarter. Capital International Investors boosted its holdings in Eli Lilly and Company by 23.2% in the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company's stock valued at $6,740,272,000 after acquiring an additional 1,645,222 shares in the last quarter. Capital Research Global Investors lifted its position in Eli Lilly and Company by 16.1% during the fourth quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock valued at $8,304,811,000 after buying an additional 1,493,673 shares during the period. Northern Trust Corp lifted its position in Eli Lilly and Company by 14.6% during the fourth quarter. Northern Trust Corp now owns 9,448,219 shares of the company's stock valued at $7,294,025,000 after buying an additional 1,204,337 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Eli Lilly and Company by 15.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,084,880 shares of the company's stock valued at $5,469,527,000 after buying an additional 969,376 shares during the period. Institutional investors own 82.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. UBS Group reduced their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a report on Friday, May 2nd. HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their price objective for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. Morgan Stanley restated 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 research note on Thursday, July 10th. Finally, The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their price target for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $1,012.56.

Eli Lilly and Company Stock Down 0.4%

Shares of LLY traded down $3.19 during midday trading on Wednesday, reaching $759.76. 4,331,834 shares of the stock were exchanged, compared to its average volume of 2,949,040. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. The company's 50 day moving average is $774.07 and its two-hundred day moving average is $800.13. The company has a market capitalization of $720.05 billion, a P/E ratio of 61.82, a PEG ratio of 1.08 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. Eli Lilly and Company's revenue was up 45.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.58 EPS. On average, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders 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 dividend yield of 0.79%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is presently 48.82%.

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.