GKV Capital Management Co. Inc. cut its holdings in shares of Eli Lilly and Company (NYSE:LLY – Free Report) by 4.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,892 shares of the company’s stock after selling 679 shares during the period. Eli Lilly and Company accounts for approximately 4.6% of GKV Capital Management Co. Inc.’s investment portfolio, making the stock its 3rd biggest holding. GKV Capital Management Co. Inc.’s holdings in Eli Lilly and Company were worth $12,777,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in Eli Lilly and Company during the 4th quarter valued at about $12,976,634,000. J. Stern & Co. LLP raised its stake in Eli Lilly and Company by 46,191.3% in the fourth quarter. J. Stern & Co. LLP now owns 4,047,245 shares of the company’s stock valued at $4,047,245,000 after buying an additional 4,038,502 shares during the last quarter. Cardano Risk Management B.V. boosted its holdings in Eli Lilly and Company by 876.1% in the fourth quarter. Cardano Risk Management B.V. now owns 2,375,050 shares of the company’s stock worth $2,552,419,000 after acquiring an additional 2,131,734 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Eli Lilly and Company by 321.3% in the first quarter. Fifth Third Bancorp now owns 1,963,490 shares of the company’s stock worth $1,805,959,000 after acquiring an additional 1,497,423 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Eli Lilly and Company by 10.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,910,505 shares of the company’s stock worth $16,024,022,000 after acquiring an additional 1,432,069 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.
Eli Lilly and Company Trading Down 0.5%
Eli Lilly and Company stock opened at $1,149.28 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.50 and a debt-to-equity ratio of 1.26. Eli Lilly and Company has a 52 week low of $623.78 and a 52 week high of $1,249.45. The company has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 40.83, a price-to-earnings-growth ratio of 1.43 and a beta of 0.51. The stock has a 50-day moving average price of $1,152.66 and a 200 day moving average price of $1,044.16.
Eli Lilly and Company Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be paid a dividend of $1.73 per share. This represents a $6.92 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, August 14th. Eli Lilly and Company’s payout ratio is presently 24.58%.
Eli Lilly and Company News Summary
Here are the key news stories impacting Eli Lilly and Company this week:
- Positive Sentiment: Lilly continues to pull ahead of Novo Nordisk in the rapidly expanding obesity-treatment market, with significantly stronger recent revenue growth and a more favorable outlook. Lilly’s latest reported quarter included 55.5% year-over-year revenue growth, while Novo Nordisk expects an adjusted sales decline. Eli Lilly Stock Has Skyrocketed. Novo Nordisk Has Crashed.
- Positive Sentiment: The company is investing another $750 million with Resilience to expand U.S. manufacturing capacity for diabetes and obesity medicines. The project is expected to add at least 400 jobs and supports Lilly’s ability to meet continued demand. Lilly Boosts Diabetes and Obesity Capacity With $750 Million Deal
- Positive Sentiment: Completion of a late-stage retatrutide trial provides a potential future catalyst in diabetes, obesity and related cardiovascular indications. Lilly has also begun an early-stage study of eloralintide, adding another candidate to its weight-loss pipeline. Lilly’s Retatrutide Trial Completion Signals Next Wave in Diabetes and Obesity Drugs
- Neutral Sentiment: Analysts are focused on key operating metrics for Lilly’s second-quarter results, including demand, prescription trends and guidance. The company’s prior earnings report substantially exceeded estimates, raising expectations for the upcoming release. Lilly Q2 Earnings on the Horizon
- Negative Sentiment: Weight-loss drug stocks came under pressure as investors digested clinical-trial news and positioned ahead of earnings. Technical selling intensified after Lilly fell below a closely watched support level, despite its stronger long-term fundamentals. Weight Loss Drug Stocks Slump
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the stock. Royal Bank Of Canada upped their price objective on shares of Eli Lilly and Company from $1,250.00 to $1,500.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Jefferies Financial Group boosted their target price on shares of Eli Lilly and Company from $1,330.00 to $1,350.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. BMO Capital Markets restated an “outperform” rating on shares of Eli Lilly and Company in a research note on Monday, June 15th. UBS Group raised their price target on shares of Eli Lilly and Company from $1,250.00 to $1,425.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Finally, Leerink Partners lifted their price objective on shares of Eli Lilly and Company from $1,119.00 to $1,232.00 and gave the stock an “outperform” rating in a research note on Thursday, June 25th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus target price of $1,283.64.
About Eli Lilly and Company
Eli Lilly and Company (NYSE: LLY) is a global pharmaceutical company founded in 1876 and headquartered in Indianapolis, Indiana. The company researches, develops, manufactures and commercializes a broad range of medicines and therapies for patients worldwide. Eli Lilly maintains operations and commercial presence across North America, Europe, Asia and other regions, serving both developed and emerging markets. The company has been led in recent years by President and Chief Executive Officer David A.
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