Eli Lilly and Company (NYSE:LLY) is Freedom Together Foundation’s 4th Largest Position

Freedom Together Foundation trimmed its position in Eli Lilly and Company (NYSE:LLY) by 79.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,868 shares of the company’s stock after selling 35,000 shares during the quarter. Eli Lilly and Company accounts for approximately 0.8% of Freedom Together Foundation’s portfolio, making the stock its 4th largest holding. Freedom Together Foundation’s holdings in Eli Lilly and Company were worth $6,846,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at about $8,407,908,000. Proficio Capital Partners LLC boosted its holdings in Eli Lilly and Company by 100,387.1% in the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock worth $4,016,110,000 after acquiring an additional 5,197,038 shares during the period. Wellington Management Group LLP grew its position in Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock valued at $9,747,214,000 after acquiring an additional 2,012,129 shares in the last quarter. Capital International Investors grew its position 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. Finally, Raymond James Financial Inc. acquired a new position in shares of Eli Lilly and Company during the fourth quarter worth $1,240,653,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Down 2.0 %

Shares of Eli Lilly and Company stock opened at $736.21 on Friday. The stock has a market capitalization of $697.73 billion, a price-to-earnings ratio of 62.87, a PEG 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 company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The business’s 50 day simple moving average is $810.98 and its 200-day simple moving average is $811.52.

Eli Lilly and Company (NYSE:LLY) last issued its 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). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The company had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same period in the prior year, the business earned $2.58 earnings per share. Eli Lilly and Company’s quarterly revenue was up 45.2% on a year-over-year basis. Equities research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.81%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 48.82%.

Analysts Set New Price Targets

LLY has been the subject of a number of recent analyst reports. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. HSBC downgraded Eli Lilly and Company from a “buy” rating to a “reduce” rating and lowered their target price for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. The Goldman Sachs Group upgraded Eli Lilly and Company from a “neutral” rating to a “buy” rating and cut their price target for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a report on Friday, January 17th. Finally, 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,002.80.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the transaction, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This trade represents a 14.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.14% of the company’s stock.

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.