Eli Lilly and Company (NYSE:LLY) Stake Reduced by Forum Financial Management LP

Forum Financial Management LP trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.9% in the 1st quarter, HoldingsChannel reports. The firm owned 8,368 shares of the company’s stock after selling 247 shares during the quarter. Forum Financial Management LP’s holdings in Eli Lilly and Company were worth $6,911,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its position in 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 worth $57,320,226,000 after purchasing an additional 475,530 shares during the last quarter. Geode Capital Management LLC increased its position in Eli Lilly and Company by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company’s stock worth $13,389,651,000 after purchasing an additional 291,875 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of 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 last quarter. Wellington Management Group LLP increased its holdings in shares of 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 valued at $9,747,214,000 after acquiring an additional 2,012,129 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Eli Lilly and Company during the 4th quarter valued at about $8,407,908,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Up 2.2%

LLY stock opened at $788.91 on Thursday. The company has a market cap of $747.68 billion, a P/E ratio of 64.19, a PEG ratio of 1.12 and a beta of 0.40. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18. The business has a fifty day moving average of $766.12 and a 200-day moving average of $799.91.

Eli Lilly and Company (NYSE:LLY) last released 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 the consensus estimate of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The company’s revenue was up 45.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.58 EPS. As a group, equities research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a yield of 0.76%. Eli Lilly and Company’s dividend payout ratio is presently 48.82%.

Analysts Set New Price Targets

LLY has been the topic of a number of analyst reports. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 price objective on the stock. Erste Group Bank lowered Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. Wells Fargo & Company reissued an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Guggenheim raised their target price on Eli Lilly and Company from $936.00 to $942.00 and gave the company a “buy” rating in a report on Friday, July 11th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $1,135.00 target price (up previously from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.