Manchester Capital Management LLC Sells 491 Shares of Eli Lilly and Company (NYSE:LLY)

Manchester Capital Management LLC decreased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 8.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,025 shares of the company’s stock after selling 491 shares during the quarter. Manchester Capital Management LLC’s holdings in Eli Lilly and Company were worth $4,150,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of LLY. PNC Financial Services Group Inc. raised its holdings in Eli Lilly and Company by 97.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company’s stock valued at $83,669,349,000 after acquiring an additional 50,002,551 shares during the period. GAMMA Investing LLC raised its holdings in Eli Lilly and Company by 103,831.6% during the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock valued at $12,278,292,000 after acquiring an additional 14,852,076 shares during the period. Capital International Investors raised its holdings in Eli Lilly and Company by 23.2% during the 4th quarter. Capital International Investors now owns 8,730,758 shares of the company’s stock valued at $6,740,272,000 after acquiring an additional 1,645,222 shares during the period. Capital Research Global Investors raised its holdings in Eli Lilly and Company by 16.1% during the 4th quarter. Capital Research Global Investors now owns 10,757,511 shares of the company’s stock valued at $8,304,811,000 after acquiring an additional 1,493,673 shares during the period. Finally, Northern Trust Corp raised its holdings in Eli Lilly and Company by 14.6% during the 4th quarter. Northern Trust Corp now owns 9,448,219 shares of the company’s stock valued at $7,294,025,000 after acquiring an additional 1,204,337 shares during the period. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $761.47 on Friday. The company has a 50-day simple moving average of $775.51 and a two-hundred day simple moving average of $800.23. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53. The firm has a market cap of $721.68 billion, a price-to-earnings ratio of 61.96, a PEG ratio of 1.08 and a beta of 0.44.

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

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company’s dividend payout ratio is currently 48.82%.

Wall Street Analyst Weigh In

LLY has been the topic of a number of analyst reports. Wall Street Zen raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Erste Group Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, June 5th. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and reduced their price target for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. Guggenheim boosted their price target on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Finally, UBS Group reduced their price target on shares of 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $1,012.56.

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.