Prudential Financial Inc. Cuts Stock Holdings in Eli Lilly and Company $LLY

Prudential Financial Inc. lowered its position in Eli Lilly and Company (NYSE:LLY) by 9.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 816,459 shares of the company’s stock after selling 87,429 shares during the period. Eli Lilly and Company comprises about 0.8% of Prudential Financial Inc.’s portfolio, making the stock its 18th largest position. Prudential Financial Inc. owned about 0.09% of Eli Lilly and Company worth $636,454,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LLY. PNC Financial Services Group Inc. grew its holdings in shares of Eli Lilly and Company by 97.5% in the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company’s stock valued at $83,669,349,000 after acquiring an additional 50,002,551 shares in the last quarter. Vanguard Group Inc. boosted its position in Eli Lilly and Company by 1.5% in the second quarter. Vanguard Group Inc. now owns 80,407,430 shares of the company’s stock worth $62,680,004,000 after purchasing an additional 1,183,038 shares during the last quarter. Wellington Management Group LLP grew its stake in Eli Lilly and Company by 0.6% in the 1st 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. Goldman Sachs Group Inc. increased its position in shares of Eli Lilly and Company by 13.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,821,993 shares of the company’s stock valued at $4,808,443,000 after purchasing an additional 682,203 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of Eli Lilly and Company during the 1st quarter worth $4,613,912,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 1.4%

LLY opened at $1,058.05 on Friday. The business’s fifty day simple moving average is $855.89 and its 200 day simple moving average is $787.74. Eli Lilly and Company has a 52 week low of $623.78 and a 52 week high of $1,066.65. 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 stock has a market cap of $1.00 trillion, a PE ratio of 69.15, a P/E/G ratio of 1.21 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, October 30th. The company reported $7.02 EPS for the quarter, beating analysts’ consensus estimates of $6.42 by $0.60. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The business had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $16.09 billion. During the same period last year, the business earned $1.18 earnings per share. The business’s quarterly revenue was up 53.9% on a year-over-year basis. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. As a group, research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, November 14th. Eli Lilly and Company’s dividend payout ratio is currently 29.35%.

Analyst Ratings Changes

Several brokerages have commented on LLY. Cantor Fitzgerald lifted their price objective on shares of Eli Lilly and Company from $925.00 to $985.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Truist Financial lifted their price target on shares of Eli Lilly and Company from $1,038.00 to $1,182.00 and gave the stock a “buy” rating in a report on Wednesday. Sanford C. Bernstein reiterated an “outperform” rating on shares of Eli Lilly and Company in a research note on Monday, November 3rd. DZ Bank raised Eli Lilly and Company from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 14th. Finally, JPMorgan Chase & Co. boosted their target price on Eli Lilly and Company from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Tuesday, November 18th. Three analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,027.95.

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.