Gabelli Funds LLC Lowers Stock Position in Eli Lilly and Company (NYSE:LLY)

Gabelli Funds LLC cut its holdings in Eli Lilly and Company (NYSE:LLY) by 4.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,248 shares of the company’s stock after selling 5,306 shares during the quarter. Eli Lilly and Company makes up about 0.8% of Gabelli Funds LLC’s holdings, making the stock its 21st biggest holding. Gabelli Funds LLC’s holdings in Eli Lilly and Company were worth $110,681,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Eli Lilly and Company by 1.6% during the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after purchasing an additional 1,133,810 shares in the last quarter. Capital World Investors grew its stake in shares of Eli Lilly and Company by 0.3% in 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. Capital Research Global Investors increased its position in Eli Lilly and Company by 6.0% during the 1st quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock valued at $6,248,210,000 after buying an additional 453,939 shares in the last quarter. Capital International Investors increased its holdings in shares of Eli Lilly and Company by 5.1% during the first quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock valued at $5,424,243,000 after acquiring an additional 335,560 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Eli Lilly and Company by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,542,089 shares of the company’s stock worth $2,647,675,000 after buying an additional 85,015 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Up 0.7 %

NYSE LLY opened at $921.49 on Friday. Eli Lilly and Company has a 12 month low of $516.57 and a 12 month high of $972.53. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The stock has a market cap of $875.79 billion, a PE ratio of 135.71, a P/E/G ratio of 2.79 and a beta of 0.42. The stock’s 50 day moving average is $895.06 and its 200 day moving average is $838.32.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Research analysts predict that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 1,441 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $915.02, for a total transaction of $1,318,543.82. Following 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. Insiders have sold 442,229 shares of company stock valued at $410,002,456 in the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Jefferies Financial Group lifted their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Wells Fargo & Company lifted their price target on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Truist Financial reissued a “buy” rating and set a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Finally, Bank of America boosted their target price on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $977.35.

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.