Eli Lilly and Company (NYSE:LLY) Holdings Cut by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lowered its position in Eli Lilly and Company (NYSE:LLY) by 1.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 447,110 shares of the company’s stock after selling 7,137 shares during the quarter. Eli Lilly and Company accounts for about 1.0% of Mitsubishi UFJ Trust & Banking Corp’s investment portfolio, making the stock its 11th biggest position. Mitsubishi UFJ Trust & Banking Corp’s holdings in Eli Lilly and Company were worth $369,273,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. WestEnd Advisors LLC increased its stake in shares of Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company’s stock valued at $26,000 after acquiring an additional 21 shares during the period. Citizens National Bank Trust Department increased its stake in shares of 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 period. Financial Gravity Asset Management Inc. acquired a new position in shares of Eli Lilly and Company during the first quarter valued at approximately $40,000. Mascagni Wealth Management Inc. acquired a new position in shares of Eli Lilly and Company during the fourth quarter valued at approximately $43,000. Finally, O Brien Wealth Partners LLC increased its stake in shares of Eli Lilly and Company by 25.5% during the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company’s stock valued at $49,000 after acquiring an additional 12 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 2.9%

Eli Lilly and Company stock opened at $761.47 on Friday. The company has a 50 day moving average price of $775.51 and a 200 day moving average price of $799.86. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. The firm has a market capitalization of $721.68 billion, a price-to-earnings ratio of 61.96, a P/E/G ratio of 1.05 and a beta of 0.44.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The firm had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same period in the prior year, the business posted $2.58 EPS. The company’s revenue for the quarter was up 45.2% on a year-over-year basis. Research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed 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 of this dividend is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a yield of 0.8%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 48.82%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on LLY shares. Guggenheim raised their price objective on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Hsbc Global Res lowered shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research note on Monday, April 28th. The Goldman Sachs Group upgraded 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 note on Tuesday, April 8th. Wells Fargo & Company restated an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, HSBC cut shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and reduced their target price for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. One 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.