Pitcairn Co. Sells 872 Shares of Eli Lilly and Company $LLY

Pitcairn Co. cut its holdings in Eli Lilly and Company (NYSE:LLY) by 9.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,960 shares of the company’s stock after selling 872 shares during the quarter. Pitcairn Co.’s holdings in Eli Lilly and Company were worth $6,205,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Laurel Wealth Advisors LLC boosted its position in shares of Eli Lilly and Company by 78,621.2% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 11,552,336 shares of the company’s stock worth $9,005,392,000 after purchasing an additional 11,537,661 shares during the last quarter. Norges Bank acquired a new position in Eli Lilly and Company in the second quarter valued at about $8,827,714,000. Vanguard Group Inc. boosted its holdings in Eli Lilly and Company by 1.5% during the second quarter. Vanguard Group Inc. now owns 80,407,430 shares of the company’s stock worth $62,680,004,000 after buying an additional 1,183,038 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Eli Lilly and Company by 106.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,481,031 shares of the company’s stock worth $1,154,508,000 after buying an additional 765,010 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of Eli Lilly and Company by 13.4% in the 2nd quarter. Franklin Resources Inc. now owns 4,766,865 shares of the company’s stock valued at $3,715,913,000 after acquiring an additional 564,736 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 1.8%

NYSE:LLY opened at $1,027.68 on Friday. The stock has a 50-day simple moving average of $939.47 and a 200 day simple moving average of $819.64. Eli Lilly and Company has a 52-week low of $623.78 and a 52-week high of $1,111.99. The company has a market cap of $971.55 billion, a PE ratio of 50.28, a PEG ratio of 1.14 and a beta of 0.37. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.24 and a current ratio of 1.55.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, October 30th. The company reported $7.02 EPS for the quarter, beating the consensus estimate of $6.42 by $0.60. The firm had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $16.09 billion. Eli Lilly and Company had a return on equity of 109.52% and a net margin of 30.99%.The business’s quarterly revenue was up 53.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.18 EPS. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. On average, sell-side analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 13th will be issued a dividend of $1.73 per share. The ex-dividend date is Friday, February 13th. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.50. This represents a $6.92 annualized dividend and a yield of 0.7%. Eli Lilly and Company’s dividend payout ratio is currently 29.35%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LLY. Leerink Partners raised shares of Eli Lilly and Company from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $886.00 to $1,104.00 in a research note on Monday, November 10th. Daiwa America cut shares of Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a research report on Sunday, August 17th. The Goldman Sachs Group boosted their price target on shares of Eli Lilly and Company from $951.00 to $1,145.00 and gave the company a “buy” rating in a report on Monday, December 8th. Berenberg Bank raised their price objective on Eli Lilly and Company from $830.00 to $950.00 and gave the stock a “hold” rating in a research note on Tuesday, December 2nd. Finally, Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Tuesday, October 14th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,121.90.

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.