1834 Investment Advisors Co. Cuts Stock Position in Eli Lilly and Company (NYSE:LLY)

1834 Investment Advisors Co. decreased its position in shares of Eli Lilly and Company (NYSE:LLY) by 3.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,366 shares of the company’s stock after selling 135 shares during the period. 1834 Investment Advisors Co.’s holdings in Eli Lilly and Company were worth $2,780,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its stake in Eli Lilly and Company by 97.5% during the first quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company’s stock worth $83,669,349,000 after purchasing an additional 50,002,551 shares during the period. GAMMA Investing LLC boosted its stake in shares of Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock valued at $12,278,292,000 after purchasing an additional 14,852,076 shares during the period. Vanguard Group Inc. grew its holdings in shares of Eli Lilly and Company by 6.7% in the first quarter. Vanguard Group Inc. now owns 79,224,392 shares of the company’s stock valued at $65,432,218,000 after purchasing an additional 4,975,395 shares in the last quarter. Capital International Investors increased its stake in Eli Lilly and Company by 23.2% during the 4th quarter. Capital International Investors now owns 8,730,758 shares of the company’s stock worth $6,740,272,000 after buying an additional 1,645,222 shares during the period. Finally, Capital Research Global Investors lifted its holdings in Eli Lilly and Company by 16.1% during the 4th quarter. Capital Research Global Investors now owns 10,757,511 shares of the company’s stock worth $8,304,811,000 after buying an additional 1,493,673 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of recent research reports. Wall Street Zen raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. HSBC cut Eli Lilly and Company from a “buy” rating to a “reduce” rating and decreased their price objective for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 target price on the stock. Erste Group Bank cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $1,012.56.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $746.17 on Thursday. The stock has a market capitalization of $707.17 billion, a P/E ratio of 60.71, a P/E/G ratio of 1.09 and a beta of 0.44. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53. The company’s fifty day moving average is $777.97 and its two-hundred day moving average is $800.20.

Eli Lilly and Company Dividend Announcement

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

Eli Lilly and Company 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.