Mackenzie Financial Corp Sells 22,047 Shares of Eli Lilly and Company (NYSE:LLY)

Mackenzie Financial Corp cut its holdings in Eli Lilly and Company (NYSE:LLY) by 8.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 252,434 shares of the company’s stock after selling 22,047 shares during the period. Mackenzie Financial Corp’s holdings in Eli Lilly and Company were worth $208,488,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. WestEnd Advisors LLC raised its holdings in Eli Lilly and Company by 210.0% during the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company’s stock valued at $26,000 after buying an additional 21 shares during the period. Citizens National Bank Trust Department increased its position in Eli Lilly and Company by 180.0% during the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company’s stock valued at $35,000 after acquiring an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in shares of Eli Lilly and Company in the first quarter valued at $40,000. Mascagni Wealth Management Inc. bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $43,000. Finally, Prudent Man Investment Management Inc. purchased a new position in shares of Eli Lilly and Company during the 4th quarter worth about $48,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 0.8%

Eli Lilly and Company stock opened at $811.73 on Monday. The business has a fifty day moving average price of $771.95 and a 200-day moving average price of $800.61. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The stock has a market capitalization of $769.31 billion, a price-to-earnings ratio of 66.05, a PEG ratio of 1.18 and a beta of 0.40. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). The company had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The business’s revenue for the quarter was up 45.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.58 earnings per share. Equities research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a $1.50 dividend. The ex-dividend date is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a yield of 0.74%. Eli Lilly and Company’s dividend payout ratio (DPR) is 48.82%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LLY. Erste Group Bank downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. Guggenheim lifted their target price on Eli Lilly and Company from $936.00 to $942.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Wall Street Zen upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Saturday. Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, The Goldman Sachs Group raised shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,012.56.

Eli Lilly and Company Profile

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.