DnB Asset Management AS Sells 8,586 Shares of Eli Lilly and Company $LLY

DnB Asset Management AS trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 2.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324,422 shares of the company’s stock after selling 8,586 shares during the period. Eli Lilly and Company comprises about 1.2% of DnB Asset Management AS’s portfolio, making the stock its 11th largest position. DnB Asset Management AS’s holdings in Eli Lilly and Company were worth $267,943,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Duquesne Family Office LLC boosted its stake in shares of Eli Lilly and Company by 52.5% during the first quarter. Duquesne Family Office LLC now owns 94,830 shares of the company’s stock valued at $78,321,000 after purchasing an additional 32,640 shares in the last quarter. EFG Asset Management North America Corp. raised its position in shares of Eli Lilly and Company by 249.6% in the 1st quarter. EFG Asset Management North America Corp. now owns 11,761 shares of the company’s stock worth $9,710,000 after acquiring an additional 8,397 shares in the last quarter. Eventide Asset Management LLC lifted its stake in shares of Eli Lilly and Company by 13.7% during the 1st quarter. Eventide Asset Management LLC now owns 4,772 shares of the company’s stock worth $3,939,000 after purchasing an additional 574 shares during the last quarter. Cinctive Capital Management LP bought a new stake in Eli Lilly and Company during the first quarter valued at about $1,553,000. Finally, Clark Capital Management Group Inc. grew its stake in Eli Lilly and Company by 19.0% in the first quarter. Clark Capital Management Group Inc. now owns 132,369 shares of the company’s stock valued at $109,325,000 after purchasing an additional 21,128 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the topic of a number of recent analyst reports. Hsbc Global Res upgraded shares of Eli Lilly and Company from a “moderate sell” rating to a “hold” rating in a report on Wednesday, August 27th. Daiwa America downgraded shares of Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a research note on Sunday, August 17th. Daiwa Capital Markets downgraded Eli Lilly and Company from an “outperform” rating to a “neutral” rating and set a $700.00 price target on the stock. in a research report on Sunday, August 17th. Leerink Partners reiterated a “market perform” rating and set a $715.00 price objective on shares of Eli Lilly and Company in a report on Thursday, August 7th. Finally, Leerink Partnrs downgraded Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $950.17.

Insiders Place Their Bets

In related news, Director Jamere Jackson bought 200 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were acquired at an average price of $639.56 per share, for a total transaction of $127,912.00. Following the completion of the transaction, the director directly owned 9,402 shares in the company, valued at $6,013,143.12. This trade represents a 2.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David A. Ricks acquired 1,632 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased at an average price of $644.77 per share, for a total transaction of $1,052,264.64. Following the completion of the acquisition, the chief executive officer owned 546,601 shares in the company, valued at $352,431,926.77. The trade was a 0.30% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders bought 4,514 shares of company stock valued at $2,894,841. 0.14% of the stock is owned by insiders.

Eli Lilly and Company Stock Up 0.1%

NYSE:LLY opened at $736.27 on Thursday. The company’s fifty day moving average price is $745.91 and its 200-day moving average price is $783.42. The firm has a market capitalization of $696.85 billion, a P/E ratio of 48.12, a PEG ratio of 1.02 and a beta of 0.47. Eli Lilly and Company has a 1-year low of $623.78 and a 1-year high of $954.00. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.28 and a quick ratio of 1.00.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, August 7th. The company reported $6.31 EPS for the quarter, topping the consensus estimate of $5.59 by $0.72. The firm had revenue of $15.56 billion for the quarter, compared to analyst estimates of $14.40 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%.Eli Lilly and Company’s revenue for the quarter was up 37.6% compared to the same quarter last year. During the same period last year, the company earned $3.92 earnings per share. Eli Lilly and Company has set its FY 2025 guidance at 21.750-23.000 EPS. As a group, equities research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a $1.50 dividend. 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 (DPR) is presently 39.22%.

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.