Eli Lilly and Company (NYSE:LLY) Shares Sold by New Covenant Trust Company N.A.

New Covenant Trust Company N.A. cut its position in Eli Lilly and Company (NYSE:LLY) by 2.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,943 shares of the company’s stock after selling 68 shares during the period. Eli Lilly and Company makes up 2.6% of New Covenant Trust Company N.A.’s holdings, making the stock its 10th largest position. New Covenant Trust Company N.A.’s holdings in Eli Lilly and Company were worth $2,421,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC lifted its position in Eli Lilly and Company by 103,831.6% during 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. Norges Bank purchased a new position in shares of Eli Lilly and Company during the 4th quarter valued at about $8,407,908,000. Proficio Capital Partners LLC lifted its holdings in shares of Eli Lilly and Company by 100,387.1% in the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock valued at $4,016,110,000 after buying an additional 5,197,038 shares during the period. Wellington Management Group LLP boosted its stake in shares of Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock worth $9,747,214,000 after buying an additional 2,012,129 shares during the last quarter. Finally, Capital International Investors grew its holdings in Eli Lilly and Company by 23.2% during the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company’s stock worth $6,740,272,000 after acquiring an additional 1,645,222 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Up 1.1%

LLY stock opened at $778.97 on Wednesday. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53. The business’s 50-day moving average is $781.26 and its 200 day moving average is $800.21. 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 stock has a market cap of $738.26 billion, a price-to-earnings ratio of 63.38, a PEG ratio of 1.13 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (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 firm earned $2.58 earnings per share. The business’s revenue was up 45.2% on a year-over-year basis. On average, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company’s payout ratio is 48.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on LLY shares. Wall Street Zen upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Saturday, June 7th. Hsbc Global Res downgraded shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. Morgan Stanley restated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Cantor Fitzgerald began coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price objective for the company. Finally, Erste Group Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,011.61.

Eli Lilly and 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.