Harbour Capital Advisors LLC Sells 2,248 Shares of Eli Lilly and Company (NYSE:LLY)

Harbour Capital Advisors LLC reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 12.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,299 shares of the company’s stock after selling 2,248 shares during the period. Eli Lilly and Company accounts for about 3.2% of Harbour Capital Advisors LLC’s portfolio, making the stock its largest holding. Harbour Capital Advisors LLC’s holdings in Eli Lilly and Company were worth $12,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Eli Lilly and Company by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company’s stock valued at $57,320,226,000 after buying an additional 475,530 shares during the period. Geode Capital Management LLC lifted its stake in Eli Lilly and Company by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company’s stock worth $13,389,651,000 after acquiring an additional 291,875 shares in the last quarter. GAMMA Investing LLC lifted its position 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 worth $12,278,292,000 after purchasing an additional 14,852,076 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Eli Lilly and Company by 19.0% during the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock worth $9,747,214,000 after buying an additional 2,012,129 shares in the last quarter. Finally, Norges Bank purchased a new position in Eli Lilly and Company in the fourth quarter valued at $8,407,908,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. HSBC lowered shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and lowered their target price for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. The Goldman Sachs Group raised shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. Hsbc Global Res cut shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. Finally, Wall Street Zen raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Saturday, June 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and an average price target of $1,011.61.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $778.97 on Wednesday. The company has a market cap of $738.26 billion, a P/E ratio of 63.38, a price-to-earnings-growth ratio of 1.13 and a beta of 0.40. Eli Lilly and Company has a one year low of $677.09 and a one year high of $972.53. The business has a fifty day moving average of $781.26 and a two-hundred day moving average of $800.21. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). The company had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The business’s revenue for the quarter was up 45.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.58 EPS. As a group, analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.77%. Eli Lilly and Company’s payout ratio is 48.82%.

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.