Eli Lilly and Company $LLY Shares Sold by Edgewood Management LLC

Edgewood Management LLC cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 4.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,982,817 shares of the company’s stock after selling 102,196 shares during the quarter. Eli Lilly and Company makes up approximately 4.9% of Edgewood Management LLC’s holdings, making the stock its 7th largest holding. Edgewood Management LLC’s holdings in Eli Lilly and Company were worth $1,545,665,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ boosted its stake in Eli Lilly and Company by 2.4% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 329,014 shares of the company’s stock valued at $256,476,000 after acquiring an additional 7,629 shares during the last quarter. Colonial Trust Advisors raised its stake in shares of Eli Lilly and Company by 1.6% in the 2nd quarter. Colonial Trust Advisors now owns 37,326 shares of the company’s stock valued at $29,097,000 after purchasing an additional 573 shares in the last quarter. Silvant Capital Management LLC lifted its position in shares of Eli Lilly and Company by 0.6% during the second quarter. Silvant Capital Management LLC now owns 94,268 shares of the company’s stock worth $73,485,000 after purchasing an additional 601 shares during the last quarter. Norges Bank acquired a new position in Eli Lilly and Company in the second quarter worth about $8,827,714,000. Finally, Virtue Capital Management LLC grew its stake in Eli Lilly and Company by 10.4% in the second quarter. Virtue Capital Management LLC now owns 796 shares of the company’s stock worth $621,000 after purchasing an additional 75 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on LLY shares. Leerink Partnrs upgraded Eli Lilly and Company from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 10th. HSBC upped their price target on Eli Lilly and Company from $700.00 to $800.00 in a research report on Wednesday, October 1st. The Goldman Sachs Group lifted their price objective on shares of Eli Lilly and Company from $876.00 to $879.00 and gave the stock a “buy” rating in a report on Friday, October 10th. UBS Group boosted their target price on shares of Eli Lilly and Company from $895.00 to $1,080.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Finally, Daiwa America downgraded shares of Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a research report on Sunday, August 17th. Three analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,047.50.

Eli Lilly and Company Price Performance

Shares of LLY opened at $1,074.94 on Friday. Eli Lilly and Company has a 12 month low of $623.78 and a 12 month high of $1,111.99. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00. The stock has a fifty day moving average price of $889.37 and a 200 day moving average price of $799.23. The company has a market cap of $1.02 trillion, a P/E ratio of 70.26, a PEG ratio of 1.21 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, October 30th. The company reported $7.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.42 by $0.60. The company had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $16.09 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The company’s revenue for the quarter was up 53.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.18 earnings per share. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. On average, research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, November 14th will be given a $1.50 dividend. The ex-dividend date is Friday, November 14th. This represents a $6.00 annualized dividend and a yield of 0.6%. Eli Lilly and Company’s dividend payout ratio is 29.35%.

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.