Harbor Capital Advisors Inc. Sells 2,951 Shares of Eli Lilly and Company (NYSE:LLY)

Harbor Capital Advisors Inc. trimmed its stake in Eli Lilly and Company (NYSE:LLY) by 19.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,105 shares of the company’s stock after selling 2,951 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Eli Lilly and Company were worth $9,998,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in LLY. Vanguard Group Inc. lifted its holdings in shares of Eli Lilly and Company by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company’s stock valued at $57,320,226,000 after purchasing an additional 475,530 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Eli Lilly and Company by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company’s stock valued at $13,389,651,000 after purchasing an additional 291,875 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Eli Lilly and Company by 103,831.6% during the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock valued at $12,278,292,000 after purchasing an additional 14,852,076 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Eli Lilly and Company by 19.0% during the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock valued at $9,747,214,000 after purchasing an additional 2,012,129 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Eli Lilly and Company during the fourth quarter valued at $8,407,908,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $773.59 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The business has a 50-day simple moving average of $769.95 and a two-hundred day simple moving average of $800.81. The stock has a market cap of $733.16 billion, a price-to-earnings ratio of 66.06, a PEG ratio of 1.40 and a beta of 0.40. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The company had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.77 billion. During the same quarter in the previous year, the company earned $2.58 EPS. The business’s quarterly revenue was up 45.2% compared to the same quarter last year. On average, analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Friday, May 16th. Eli Lilly and Company’s dividend payout ratio is currently 48.82%.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the sale, the chief accounting officer now owns 5,840 shares in the company, valued at approximately $4,778,521.60. This trade represents a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of research analyst reports. HSBC downgraded Eli Lilly and Company from a “buy” rating to a “reduce” rating and lowered their price target for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. UBS Group reduced their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Guggenheim reiterated a “buy” rating on shares of Eli Lilly and Company in a research report on Friday, May 23rd. The Goldman Sachs Group upgraded Eli Lilly and Company from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average target price of $1,011.37.

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.