Invesco LLC Sells 457 Shares of Eli Lilly and Company (NYSE:LLY)

Invesco LLC decreased its stake in Eli Lilly and Company (NYSE:LLY) by 8.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,701 shares of the company’s stock after selling 457 shares during the period. Eli Lilly and Company comprises about 1.6% of Invesco LLC’s holdings, making the stock its 14th largest holding. Invesco LLC’s holdings in Eli Lilly and Company were worth $3,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Knightsbridge Asset Management LLC raised its holdings in Eli Lilly and Company by 1.9% in the 4th quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company’s stock valued at $628,000 after buying an additional 15 shares during the last quarter. LS Investment Advisors LLC raised its stake in Eli Lilly and Company by 1.7% during the first quarter. LS Investment Advisors LLC now owns 2,340 shares of the company’s stock worth $1,933,000 after buying an additional 40 shares during the last quarter. CSM Advisors LLC lifted its stake in shares of Eli Lilly and Company by 30.6% in the 4th quarter. CSM Advisors LLC now owns 1,045 shares of the company’s stock valued at $807,000 after purchasing an additional 245 shares during the period. Proficio Capital Partners LLC lifted its stake in Eli Lilly and Company by 30.2% in the fourth quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company’s stock valued at $5,202,000 after buying an additional 1,562 shares during the period. Finally, Bfsg LLC lifted its position 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 acquiring an additional 42 shares during the period. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $778.97 on Wednesday. The business’s fifty day moving average is $781.26 and its 200 day moving average is $800.21. The firm 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. 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 52-week low of $677.09 and a 52-week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The company had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.77 billion. During the same period in the previous year, the firm earned $2.58 EPS. The firm’s quarterly revenue was up 45.2% compared to the same quarter last year. Research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LLY shares. Wall Street Zen raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Saturday, June 7th. HSBC lowered Eli Lilly and Company from a “buy” rating to a “reduce” rating and reduced their target price for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. Hsbc Global Res downgraded Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research note on Monday, April 28th. Finally, Guggenheim reiterated a “buy” rating and set a $936.00 target price on shares of Eli Lilly and Company in a research note on Friday, June 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,011.61.

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.