ASB Consultores LLC Reduces Stock Holdings in Eli Lilly and Company (NYSE:LLY)

ASB Consultores LLC cut its holdings in Eli Lilly and Company (NYSE:LLY) by 45.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,145 shares of the company’s stock after selling 950 shares during the quarter. ASB Consultores LLC’s holdings in Eli Lilly and Company were worth $1,037,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Capital Planning LLC acquired a new position in shares of Eli Lilly and Company in the 1st quarter valued at $262,000. CHURCHILL MANAGEMENT Corp purchased a new position in shares of Eli Lilly and Company in the first quarter worth about $6,916,000. M&G Plc purchased a new position in shares of Eli Lilly and Company in the first quarter worth about $8,896,000. IPG Investment Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth about $351,000. Finally, HighPoint Advisor Group LLC purchased a new stake in Eli Lilly and Company in the fourth quarter valued at approximately $9,878,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Ratings Changes

LLY has been the topic of several recent research reports. Berenberg Bank upped their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Citigroup assumed coverage on Eli Lilly and Company in a research note on Friday, September 13th. They issued a “buy” rating and a $1,060.00 target price on the stock. Finally, Morgan Stanley reissued an “overweight” rating and issued a $1,106.00 price target on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus price target of $977.35.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $915.04 on Friday. The stock has a 50 day moving average of $895.62 and a two-hundred day moving average of $836.99. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $972.53. The firm has a market cap of $869.66 billion, a P/E ratio of 134.76, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping the consensus estimate of $2.64 by $1.28. The firm had revenue of $11.30 billion during the quarter, compared to analysts’ expectations of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. On average, analysts expect that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.57%. Eli Lilly and Company’s payout ratio is presently 76.58%.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 1,441 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $915.02, for a total value of $1,318,543.82. Following the completion of the sale, the insider now owns 97,367,369 shares of the company’s stock, valued at $89,093,089,982.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last quarter, insiders sold 442,229 shares of company stock valued at $410,002,456. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company 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.