Waters Parkerson & CO. LLC Lowers Position in Eli Lilly and Company (NYSE:LLY)

Waters Parkerson & CO. LLC trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,505 shares of the company’s stock after selling 306 shares during the quarter. Waters Parkerson & CO. LLC’s holdings in Eli Lilly and Company were worth $9,511,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Swedbank AB purchased a new stake in Eli Lilly and Company in the first quarter valued at approximately $932,797,000. Vanguard Group Inc. increased its holdings in shares of Eli Lilly and Company by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after buying an additional 1,133,810 shares during the last quarter. Wulff Hansen & CO. raised its position in shares of Eli Lilly and Company by 90,438.0% during the 2nd quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after buying an additional 936,033 shares in the last quarter. GQG Partners LLC lifted its holdings in shares of Eli Lilly and Company by 20.2% during the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock worth $2,994,280,000 after acquiring an additional 648,094 shares during the last quarter. Finally, Capital International Investors grew its position in Eli Lilly and Company by 8.1% in the fourth quarter. Capital International Investors now owns 6,636,833 shares of the company’s stock worth $3,868,559,000 after acquiring an additional 497,079 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 1,441 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $915.02, for a total transaction of $1,318,543.82. Following the sale, the insider now directly owns 97,367,369 shares of the company’s stock, valued at approximately $89,093,089,982.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold 442,229 shares of company stock worth $410,002,456 over the last three months. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on LLY. Truist Financial restated a “buy” rating and set a $1,000.00 price target (up previously from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Guggenheim boosted their target price on Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Berenberg Bank lifted their price target on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $977.35.

Eli Lilly and Company Stock Up 1.1 %

Shares of NYSE:LLY opened at $915.04 on Friday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The company has a market cap of $869.66 billion, a PE ratio of 134.76, a P/E/G ratio of 2.79 and a beta of 0.42. The stock’s 50-day moving average is $895.62 and its 200 day moving average is $836.99. Eli Lilly and Company has a 1 year low of $516.57 and a 1 year high of $972.53.

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

Eli Lilly and Company Announces Dividend

The business 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. This represents a $5.20 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

About Eli Lilly and Company

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.