The Manufacturers Life Insurance Company Trims Stake in Eli Lilly and Company (NYSE:LLY)

The Manufacturers Life Insurance Company reduced its holdings in shares of Eli Lilly and Company (NYSE:LLYFree Report) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,778,274 shares of the company’s stock after selling 39,371 shares during the period. Eli Lilly and Company comprises 0.6% of The Manufacturers Life Insurance Company’s portfolio, making the stock its 20th largest holding. The Manufacturers Life Insurance Company owned 0.19% of Eli Lilly and Company worth $1,036,591,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Buckhead Capital Management LLC grew its holdings in shares of Eli Lilly and Company by 0.7% during the 4th quarter. Buckhead Capital Management LLC now owns 2,104 shares of the company’s stock worth $1,226,000 after purchasing an additional 15 shares during the period. Levin Capital Strategies L.P. grew its holdings in shares of Eli Lilly and Company by 3.8% during the 4th quarter. Levin Capital Strategies L.P. now owns 415 shares of the company’s stock worth $242,000 after purchasing an additional 15 shares during the period. Clearwater Capital Advisors LLC grew its holdings in shares of Eli Lilly and Company by 1.3% during the 4th quarter. Clearwater Capital Advisors LLC now owns 1,202 shares of the company’s stock worth $701,000 after purchasing an additional 15 shares during the period. JGP Wealth Management LLC grew its holdings in shares of Eli Lilly and Company by 0.9% during the 4th quarter. JGP Wealth Management LLC now owns 1,843 shares of the company’s stock worth $1,074,000 after purchasing an additional 16 shares during the period. Finally, Claret Asset Management Corp boosted its holdings in Eli Lilly and Company by 3.3% during the 4th quarter. Claret Asset Management Corp now owns 494 shares of the company’s stock valued at $288,000 after acquiring an additional 16 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LLY. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 target price (up from $815.00) on shares of Eli Lilly and Company in a report on Tuesday, April 30th. Morgan Stanley lifted their price objective on Eli Lilly and Company from $805.00 to $950.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Bank of America lifted their price objective on Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Barclays lifted their price objective on Eli Lilly and Company from $680.00 to $810.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Finally, The Goldman Sachs Group lifted their price objective on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $769.53.

Get Our Latest Stock Report on Eli Lilly and Company

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the transaction, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder Lilly Endowment Inc sold 92,563 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $809.21, for a total value of $74,902,905.23. Following the completion of the transaction, the insider now directly owns 98,556,247 shares in the company, valued at $79,752,700,634.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the transaction, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The disclosure for this sale can be found here. Insiders sold a total of 124,627 shares of company stock valued at $101,214,896 over the last three months. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Stock Performance

LLY traded down $1.36 during trading on Tuesday, hitting $829.90. 502,642 shares of the stock were exchanged, compared to its average volume of 2,959,856. The firm has a market capitalization of $788.75 billion, a P/E ratio of 122.38, a PEG ratio of 1.79 and a beta of 0.36. Eli Lilly and Company has a 1-year low of $432.34 and a 1-year high of $838.28. The stock has a fifty day moving average price of $770.96 and a two-hundred day moving average price of $702.67. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLYGet Free Report) last announced its earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. During the same period last year, the business posted $1.62 EPS. The company’s revenue was up 26.0% on a year-over-year basis. As a group, sell-side analysts predict that Eli Lilly and Company will post 13.76 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 Monday, June 10th. Stockholders of record on Thursday, May 16th will be issued a $1.30 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.63%. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

About Eli Lilly and Company

(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.

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

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