University of Texas Texas AM Investment Management Co. Has $5.79 Million Holdings in Eli Lilly and Company (NYSE:LLY)

University of Texas Texas AM Investment Management Co. cut its position in Eli Lilly and Company (NYSE:LLY) by 16.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 7,007 shares of the company’s stock after selling 1,350 shares during the quarter. Eli Lilly and Company makes up approximately 1.0% of University of Texas Texas AM Investment Management Co.’s investment portfolio, making the stock its 19th largest holding. University of Texas Texas AM Investment Management Co.’s holdings in Eli Lilly and Company were worth $5,787,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of LLY. GAMMA Investing LLC grew its stake in Eli Lilly and Company by 103,831.6% in the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock valued at $12,278,292,000 after buying an additional 14,852,076 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Eli Lilly and Company by 19.0% in the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock valued at $9,747,214,000 after purchasing an additional 2,012,129 shares during the period. Capital International Investors boosted its holdings in Eli Lilly and Company by 23.2% in the 4th quarter. Capital International Investors now owns 8,730,758 shares of the company’s stock valued at $6,740,272,000 after purchasing an additional 1,645,222 shares during the period. Capital Research Global Investors boosted its holdings in Eli Lilly and Company by 16.1% in the 4th quarter. Capital Research Global Investors now owns 10,757,511 shares of the company’s stock valued at $8,304,811,000 after purchasing an additional 1,493,673 shares during the period. Finally, Northern Trust Corp boosted its holdings in Eli Lilly and Company by 14.6% in the 4th quarter. Northern Trust Corp now owns 9,448,219 shares of the company’s stock valued at $7,294,025,000 after purchasing an additional 1,204,337 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Saturday. Erste Group Bank downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 price objective for the company. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, HSBC downgraded shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and cut their price target for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,012.56.

Eli Lilly and Company Stock Up 0.8%

Shares of NYSE:LLY opened at $811.73 on Monday. Eli Lilly and Company has a one year low of $677.09 and a one year high of $972.53. The company has a 50 day moving average of $771.95 and a 200-day moving average of $800.61. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. The stock has a market cap of $769.31 billion, a price-to-earnings ratio of 66.05, a P/E/G ratio of 1.18 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 EPS for the quarter, missing the consensus estimate 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 business had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. During the same quarter in the prior year, the firm earned $2.58 EPS. The firm’s quarterly revenue was up 45.2% compared to the same quarter last year. On average, sell-side analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

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. This represents a $6.00 annualized dividend and a yield of 0.74%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company’s payout ratio is 48.82%.

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.