Eli Lilly and Company (NYSE:LLY) Stake Lowered by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC lowered its holdings in Eli Lilly and Company (NYSE:LLY) by 9.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 173,522 shares of the company’s stock after selling 17,067 shares during the quarter. Eli Lilly and Company comprises 1.5% of Gateway Investment Advisers LLC’s investment portfolio, making the stock its 9th biggest holding. Gateway Investment Advisers LLC’s holdings in Eli Lilly and Company were worth $134,993,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Eli Lilly and Company by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after acquiring an additional 659,838 shares during the last quarter. Capital World Investors grew its stake in Eli Lilly and Company by 0.3% during the 4th quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock worth $15,709,466,000 after buying an additional 89,720 shares during the last quarter. Morgan Stanley grew its stake in Eli Lilly and Company by 0.7% during the 3rd quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock worth $6,738,605,000 after buying an additional 83,915 shares during the last quarter. Norges Bank purchased a new position in Eli Lilly and Company during the 4th quarter worth approximately $5,992,890,000. Finally, Capital Research Global Investors grew its stake in Eli Lilly and Company by 4.5% during the 4th quarter. Capital Research Global Investors now owns 7,577,592 shares of the company’s stock worth $4,417,120,000 after buying an additional 325,342 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

LLY has been the topic of a number of research reports. TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Argus raised their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday. Truist Financial reaffirmed a “buy” rating and set a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday. Finally, JPMorgan Chase & Co. increased their price objective on Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $812.72.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the sale, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, major shareholder Lilly Endowment Inc sold 17,229 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $902.38, for a total value of $15,547,105.02. Following the transaction, the insider now directly owns 97,556,910 shares of the company’s stock, valued at approximately $88,033,404,445.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the sale, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. Insiders sold a total of 789,704 shares of company stock valued at $672,385,964 over the last quarter. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $904.95 on Wednesday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The stock has a fifty day moving average of $804.54 and a two-hundred day moving average of $734.18. The company has a market capitalization of $860.07 billion, a price-to-earnings ratio of 133.28, a PEG ratio of 1.94 and a beta of 0.36. Eli Lilly and Company has a fifty-two week low of $434.34 and a fifty-two week high of $909.42.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.05. The company had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. Eli Lilly and Company’s revenue was up 26.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.62 earnings per share. On average, analysts anticipate that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

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.