Westpac Banking Corp Sells 8,210 Shares of Eli Lilly and Company (NYSE:LLY)

Westpac Banking Corp lessened its holdings in shares of Eli Lilly and Company (NYSE:LLYFree Report) by 31.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 17,836 shares of the company’s stock after selling 8,210 shares during the period. Eli Lilly and Company makes up 1.1% of Westpac Banking Corp’s investment portfolio, making the stock its 13th largest position. Westpac Banking Corp’s holdings in Eli Lilly and Company were worth $14,731,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. WestEnd Advisors LLC boosted its stake in Eli Lilly and Company by 210.0% in the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company’s stock worth $26,000 after purchasing an additional 21 shares in the last quarter. Citizens National Bank Trust Department raised its position in Eli Lilly and Company by 180.0% in the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company’s stock worth $35,000 after buying an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new position in Eli Lilly and Company in the 1st quarter worth about $40,000. Mascagni Wealth Management Inc. purchased a new position in Eli Lilly and Company in the 4th quarter worth about $43,000. Finally, O Brien Wealth Partners LLC raised its position in Eli Lilly and Company by 25.5% in the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company’s stock worth $49,000 after buying an additional 12 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 1.6%

Eli Lilly and Company stock opened at $635.46 on Tuesday. The firm has a 50 day moving average of $771.87 and a 200 day moving average of $798.30. The firm has a market capitalization of $601.44 billion, a price-to-earnings ratio of 41.53, a P/E/G ratio of 0.87 and a beta of 0.44. Eli Lilly and Company has a 12-month low of $623.78 and a 12-month high of $972.53. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86.

Eli Lilly and Company (NYSE:LLYGet Free Report) last released its earnings results on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.59 by $0.72. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The company had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.40 billion. During the same period in the prior year, the firm posted $3.92 EPS. The firm’s quarterly revenue was up 37.6% compared to the same quarter last year. As a group, research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 39.22%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LLY. Morgan Stanley reissued an “overweight” rating and issued a $1,135.00 target price (up previously from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. UBS Group decreased their target price on Eli Lilly and Company from $1,050.00 to $895.00 and set a “buy” rating for the company in a research report on Friday. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Erste Group Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, June 5th. Finally, Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $977.65.

View Our Latest Research Report on Eli Lilly and Company

Insider Transactions at Eli Lilly and Company

In related news, Director Jamere Jackson acquired 200 shares of the business’s stock in a transaction on Friday, August 8th. The stock was acquired at an average cost of $639.56 per share, with a total value of $127,912.00. Following the acquisition, the director directly owned 9,402 shares in the company, valued at $6,013,143.12. This represents a 2.17% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.14% of the stock is currently owned by company insiders.

About Eli Lilly and Company

(Free Report)

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.

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Institutional Ownership by Quarter for Eli Lilly and Company (NYSE:LLY)

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