Eli Lilly and Company (NYSE:LLY) Position Reduced by AGF Management Ltd.

AGF Management Ltd. lowered its position in Eli Lilly and Company (NYSE:LLY) by 15.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 504,512 shares of the company’s stock after selling 92,653 shares during the quarter. Eli Lilly and Company accounts for approximately 2.2% of AGF Management Ltd.’s holdings, making the stock its 6th biggest holding. AGF Management Ltd. owned 0.05% of Eli Lilly and Company worth $416,682,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in LLY. WestEnd Advisors LLC lifted 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 buying an additional 21 shares during the period. Citizens National Bank Trust Department raised its holdings in Eli Lilly and Company by 180.0% in the 1st 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 position in shares of Eli Lilly and Company during the 1st quarter worth $40,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth $43,000. Finally, O Brien Wealth Partners LLC grew its position in shares of Eli Lilly and Company by 25.5% in the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company’s stock valued at $49,000 after purchasing an additional 12 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Ratings Changes

LLY has been the subject of several recent analyst reports. Erste Group Bank cut Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. HSBC downgraded shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and lowered their target price for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. Wells Fargo & Company reissued an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. UBS Group reduced their target price on Eli Lilly and Company from $1,050.00 to $895.00 and set a “buy” rating on the stock in a report on Friday. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $1,135.00 price objective (up from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $984.41.

Eli Lilly and Company Stock Performance

LLY stock opened at $625.15 on Monday. The stock’s 50 day simple moving average is $774.10 and its 200 day simple moving average is $799.34. Eli Lilly and Company has a 12-month low of $623.78 and a 12-month high of $972.53. The firm has a market cap of $591.68 billion, a P/E ratio of 40.86, a P/E/G ratio of 0.87 and a beta of 0.44. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86.

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

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company’s payout ratio is presently 48.82%.

Insider Buying and Selling

In related news, Director Jamere Jackson purchased 200 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were acquired at an average cost of $639.56 per share, for a total transaction of $127,912.00. Following the transaction, the director owned 9,402 shares of the company’s stock, valued at $6,013,143.12. This trade represents a 2.17% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.14% of the stock is currently owned by insiders.

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.