Russell Investments Group Ltd. Trims Stock Position in Eli Lilly and Company (NYSE:LLY)

Russell Investments Group Ltd. trimmed its holdings in Eli Lilly and Company (NYSE:LLYFree Report) by 9.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 655,627 shares of the company’s stock after selling 68,889 shares during the quarter. Eli Lilly and Company accounts for about 0.7% of Russell Investments Group Ltd.’s holdings, making the stock its 13th biggest holding. Russell Investments Group Ltd. owned approximately 0.07% of Eli Lilly and Company worth $541,205,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its position in shares of Eli Lilly and Company by 97.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company’s stock worth $83,669,349,000 after buying an additional 50,002,551 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock worth $12,278,292,000 after buying an additional 14,852,076 shares during the last quarter. Nuveen LLC purchased a new position in Eli Lilly and Company during the first quarter valued at approximately $4,613,912,000. Vanguard Group Inc. lifted its holdings in shares of Eli Lilly and Company by 6.7% in the first quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company’s stock worth $65,432,218,000 after buying an additional 4,975,395 shares in the last quarter. Finally, Capital International Investors increased its position in Eli Lilly and Company by 23.2% in the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company’s stock worth $6,740,272,000 after purchasing an additional 1,645,222 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Insider Activity at Eli Lilly and Company

In other news, Director Jamere Jackson bought 200 shares of the stock in a transaction on Friday, August 8th. The shares were bought at an average price of $639.56 per share, with a total value of $127,912.00. Following the completion of the acquisition, the director owned 9,402 shares of the company’s stock, valued at approximately $6,013,143.12. This trade represents a 2.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on LLY shares. Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 price objective on the stock. HSBC lowered shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and decreased their price target for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. Guggenheim increased their price objective 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. Morgan Stanley reissued an “overweight” rating and set a $1,135.00 price target (up from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. Finally, Leerink Partnrs cut shares of Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $977.65.

Get Our Latest Stock Report on LLY

Eli Lilly and Company Stock Up 1.6%

NYSE LLY opened at $635.46 on Tuesday. The firm has a market cap of $601.44 billion, a PE ratio of 41.53, a P/E/G ratio of 0.87 and a beta of 0.44. Eli Lilly and Company has a 52 week low of $623.78 and a 52 week high of $972.53. The business’s fifty day simple moving average is $771.87 and its 200-day simple moving average is $798.30. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86.

Eli Lilly and Company (NYSE:LLYGet Free Report) last released its earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, beating the consensus estimate of $5.59 by $0.72. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%. The company had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. During the same period in the previous year, the company posted $3.92 EPS. Eli Lilly and Company’s revenue was up 37.6% compared to the same quarter last year. As a group, equities analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

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 paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company’s dividend payout ratio is 39.22%.

Eli Lilly and Company Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Eli Lilly and Company (NYSE:LLY)

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