Great Lakes Advisors LLC Decreases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Great Lakes Advisors LLC cut its stake in Eli Lilly and Company (NYSE:LLY) by 12.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 33,235 shares of the company’s stock after selling 4,762 shares during the quarter. Great Lakes Advisors LLC’s holdings in Eli Lilly and Company were worth $30,089,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Eli Lilly and Company during the 4th quarter worth $5,992,890,000. Swedbank AB acquired a new position in shares of Eli Lilly and Company during the 1st quarter worth approximately $932,797,000. Vanguard Group Inc. lifted its stake in Eli Lilly and Company by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after buying an additional 1,133,810 shares in the last quarter. GQG Partners LLC grew its holdings in Eli Lilly and Company by 20.2% during the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after buying an additional 648,094 shares during the last quarter. Finally, Capital International Investors increased its position in Eli Lilly and Company by 8.1% during the fourth quarter. Capital International Investors now owns 6,636,833 shares of the company’s stock worth $3,868,559,000 after buying an additional 497,079 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. JPMorgan Chase & Co. increased their price objective on Eli Lilly and Company from $900.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. Berenberg Bank lifted their target price on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. BMO Capital Markets increased their price target on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Wells Fargo & Company increased their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Finally, Argus lifted their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus target price of $961.76.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 75,510 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $860.78, for a total value of $64,997,497.80. Following the completion of the transaction, the insider now owns 97,793,810 shares of the company’s stock, valued at $84,178,955,771.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 737,410 shares of company stock valued at $669,719,100. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Stock Down 1.1 %

Eli Lilly and Company stock traded down $10.04 during midday trading on Friday, hitting $902.71. 3,439,999 shares of the company were exchanged, compared to its average volume of 3,063,074. The company has a market cap of $857.94 billion, a PE ratio of 132.95, a price-to-earnings-growth ratio of 2.91 and a beta of 0.41. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week high of $972.53. The company’s fifty day moving average price is $895.97 and its 200-day moving average price is $827.49. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The business had revenue of $11.30 billion for the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. On average, research analysts predict that Eli Lilly and Company will post 16.51 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be given a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.58%. Eli Lilly and Company’s payout ratio is currently 76.58%.

Eli Lilly and Company 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.