Eli Lilly and Company $LLY Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S cut its stake in Eli Lilly and Company (NYSE:LLY) by 13.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 110,177 shares of the company’s stock after selling 16,891 shares during the quarter. Eli Lilly and Company comprises approximately 1.0% of BI Asset Management Fondsmaeglerselskab A S’s investment portfolio, making the stock its 16th biggest position. BI Asset Management Fondsmaeglerselskab A S’s holdings in Eli Lilly and Company were worth $90,996,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of LLY. PNC Financial Services Group Inc. raised its position in shares of Eli Lilly and Company by 97.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company’s stock valued at $83,669,349,000 after buying an additional 50,002,551 shares during the period. Vanguard Group Inc. increased its stake in Eli Lilly and Company by 6.7% during the first quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company’s stock worth $65,432,218,000 after acquiring an additional 4,975,395 shares during the last quarter. GAMMA Investing LLC raised its position in Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock valued at $12,278,292,000 after purchasing an additional 14,852,076 shares during the period. Wellington Management Group LLP raised its position in Eli Lilly and Company by 0.6% in the first quarter. Wellington Management Group LLP now owns 12,707,512 shares of the company’s stock valued at $10,495,261,000 after purchasing an additional 81,587 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Eli Lilly and Company by 14.6% in the 4th quarter. Northern Trust Corp now owns 9,448,219 shares of the company’s stock valued at $7,294,025,000 after purchasing an additional 1,204,337 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on LLY shares. Erste Group Bank cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, June 5th. Wall Street Zen upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Guggenheim reduced their price target on shares of Eli Lilly and Company from $942.00 to $875.00 and set a “buy” rating on the stock in a research report on Wednesday, August 13th. Daiwa Capital Markets lowered shares of Eli Lilly and Company from an “outperform” rating to a “neutral” rating and set a $700.00 price objective for the company. in a research note on Sunday. Finally, Leerink Partnrs downgraded shares of Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $950.17.

Insider Activity

In other news, Director J Erik Fyrwald bought 1,565 shares of Eli Lilly and Company stock in a transaction dated Tuesday, August 12th. The stock was bought at an average price of $642.33 per share, for a total transaction of $1,005,246.45. Following the purchase, the director owned 74,578 shares of the company’s stock, valued at approximately $47,903,686.74. The trade was a 2.14% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jamere Jackson purchased 200 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were purchased at an average cost of $639.56 per share, with a total value of $127,912.00. Following the completion of the acquisition, the director directly owned 9,402 shares of the company’s stock, valued at $6,013,143.12. This represents a 2.17% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 4,514 shares of company stock valued at $2,894,841. Insiders own 0.14% of the company’s stock.

Eli Lilly and Company Trading Down 0.3%

LLY opened at $698.89 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. The firm has a market cap of $661.47 billion, a price-to-earnings ratio of 45.68, a price-to-earnings-growth ratio of 0.98 and a beta of 0.44. The business’s 50 day moving average is $763.06 and its two-hundred day moving average is $793.64. Eli Lilly and Company has a 52 week low of $623.78 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $15.56 billion during the quarter, compared to analysts’ expectations of $14.40 billion. During the same quarter in the prior year, the business earned $3.92 EPS. Eli Lilly and Company’s quarterly revenue was up 37.6% compared to the same quarter last year. On average, research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

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

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.