Eli Lilly and Company (NYSE:LLY) Stake Trimmed by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its position in shares of Eli Lilly and Company (NYSE:LLY) by 7.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,144,878 shares of the company’s stock after selling 94,084 shares during the period. Eli Lilly and Company accounts for 1.4% of New York State Common Retirement Fund’s portfolio, making the stock its 9th largest holding. New York State Common Retirement Fund’s holdings in Eli Lilly and Company were worth $1,014,293,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of LLY. International Assets Investment Management LLC raised its position in shares of Eli Lilly and Company by 87,091.7% during the third quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock valued at $11,041,631,000 after buying an additional 12,448,888 shares during the last quarter. Swedbank AB bought a new stake in Eli Lilly and Company in the 1st quarter valued at $932,797,000. Vanguard Group Inc. lifted its stake in Eli Lilly and Company by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock worth $56,592,709,000 after purchasing an additional 1,133,810 shares in the last quarter. Pathway Financial Advisers LLC boosted its holdings in shares of Eli Lilly and Company by 92,759.9% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,022,388 shares of the company’s stock valued at $905,774,000 after purchasing an additional 1,021,287 shares during the last quarter. Finally, Wulff Hansen & CO. grew its position in shares of Eli Lilly and Company by 90,438.0% during the second quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after purchasing an additional 936,033 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LLY. Evercore ISI raised Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,025.00 target price on shares of Eli Lilly and Company in a research report on Thursday, October 3rd. Cantor Fitzgerald restated an “overweight” rating and issued a $885.00 price target on shares of Eli Lilly and Company in a research report on Monday, September 16th. Bank of America lowered their price objective on shares of Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating for the company in a research report on Thursday. Finally, BMO Capital Markets boosted their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $1,009.00.

Eli Lilly and Company Stock Performance

LLY stock opened at $818.93 on Friday. Eli Lilly and Company has a twelve month low of $561.65 and a twelve month high of $972.53. The firm has a market cap of $778.34 billion, a price-to-earnings ratio of 88.53, a PEG ratio of 3.07 and a beta of 0.42. The business’s fifty day simple moving average is $911.04 and its two-hundred day simple moving average is $865.33. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.34). The company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $12.09 billion. Eli Lilly and Company had a return on equity of 73.73% and a net margin of 20.48%. The company’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 EPS. Analysts predict that Eli Lilly and Company will post 13.79 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.63%. Eli Lilly and Company’s payout ratio is 56.22%.

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.