BBR Partners LLC Decreases Holdings in Eli Lilly and Company (NYSE:LLY)

BBR Partners LLC cut its stake in Eli Lilly and Company (NYSE:LLY) by 33.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,659 shares of the company’s stock after selling 829 shares during the quarter. BBR Partners LLC’s holdings in Eli Lilly and Company were worth $1,502,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Eli Lilly and Company by 1.6% during the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after acquiring an additional 1,133,810 shares in the last quarter. Capital World Investors boosted its holdings in Eli Lilly and Company by 0.3% in the fourth quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock valued at $15,709,466,000 after purchasing an additional 89,720 shares during the last quarter. Norges Bank purchased a new position in Eli Lilly and Company in the fourth quarter valued at about $5,992,890,000. Capital Research Global Investors grew its stake in Eli Lilly and Company by 6.0% during the 1st quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock valued at $6,248,210,000 after purchasing an additional 453,939 shares in the last quarter. Finally, Capital International Investors increased its holdings in Eli Lilly and Company by 5.1% during the 1st quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock worth $5,424,243,000 after purchasing an additional 335,560 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 15,022 shares of Eli Lilly and Company stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $882.47, for a total transaction of $13,256,464.34. Following the sale, the insider now directly owns 97,778,788 shares in the company, valued at $86,286,847,046.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 737,410 shares of company stock valued at $669,719,100 in the last three months. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. BMO Capital Markets increased their target price on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and increased their price objective for the company from $725.00 to $1,025.00 in a research note on Monday, August 12th. Wells Fargo & Company boosted their target price on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Guggenheim increased their price target on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Finally, Bank of America boosted their price objective on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $961.76.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $912.75 on Friday. Eli Lilly and Company has a 1-year low of $516.57 and a 1-year high of $972.53. The firm has a market capitalization of $867.48 billion, a PE ratio of 134.43, a P/E/G ratio of 2.91 and a beta of 0.41. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. The business’s fifty day moving average price is $896.03 and its two-hundred day moving average price is $826.65.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $2.64 by $1.28. The firm had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. On average, research analysts expect that Eli Lilly and Company will post 16.51 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.57%. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

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.