Primecap Management Co. CA Has $12.21 Billion Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Primecap Management Co. CA cut its stake in Eli Lilly and Company (NYSE:LLY) by 11.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,779,770 shares of the company’s stock after selling 1,976,884 shares during the period. Eli Lilly and Company makes up about 10.1% of Primecap Management Co. CA’s portfolio, making the stock its biggest holding. Primecap Management Co. CA owned approximately 1.56% of Eli Lilly and Company worth $12,206,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of LLY. Knightsbridge Asset Management LLC increased its holdings in shares of Eli Lilly and Company by 1.9% in the fourth quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company’s stock worth $628,000 after buying an additional 15 shares during the period. LS Investment Advisors LLC raised its stake in Eli Lilly and Company by 1.7% during the 1st quarter. LS Investment Advisors LLC now owns 2,340 shares of the company’s stock valued at $1,933,000 after buying an additional 40 shares during the last quarter. Prism Advisors Inc. purchased a new stake in shares of Eli Lilly and Company in the 1st quarter worth $207,000. CSM Advisors LLC boosted its holdings in Eli Lilly and Company by 30.6% in the 4th quarter. CSM Advisors LLC now owns 1,045 shares of the company’s stock worth $807,000 after buying an additional 245 shares during the period. Finally, Bfsg LLC boosted its holdings in shares of Eli Lilly and Company by 1.4% during the 1st quarter. Bfsg LLC now owns 2,959 shares of the company’s stock valued at $2,444,000 after purchasing an additional 42 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $766.47 on Wednesday. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $726.41 billion, a price-to-earnings ratio of 62.37, a PEG ratio of 1.09 and a beta of 0.44. The firm has a 50-day moving average of $777.42 and a two-hundred day moving average of $800.57.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company’s dividend payout ratio is 48.82%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group raised shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Wall Street Zen raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Erste Group Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. Finally, HSBC lowered 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 research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus 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.