Primecap Management Co. CA Lowers Position in Eli Lilly and Company (NYSE:LLY)

Primecap Management Co. CA reduced its position in Eli Lilly and Company (NYSE:LLY) by 3.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 22,200,534 shares of the company’s stock after selling 863,002 shares during the quarter. Eli Lilly and Company comprises 10.2% of Primecap Management Co. CA’s investment portfolio, making the stock its largest holding. Primecap Management Co. CA’s holdings in Eli Lilly and Company were worth $12,941,135,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Simon Quick Advisors LLC boosted its position in Eli Lilly and Company by 10.5% in the fourth quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock valued at $1,706,000 after buying an additional 278 shares during the last quarter. Independent Advisor Alliance boosted its position in Eli Lilly and Company by 1.7% in the fourth quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock valued at $18,810,000 after buying an additional 544 shares during the last quarter. Apexium Financial LP boosted its position in Eli Lilly and Company by 1,819.1% in the fourth quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock valued at $6,667,000 after buying an additional 10,842 shares during the last quarter. Clear Harbor Asset Management LLC purchased a new stake in Eli Lilly and Company in the fourth quarter valued at approximately $363,000. Finally, Terril Brothers Inc. boosted its position in Eli Lilly and Company by 113.2% in the fourth quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock valued at $471,000 after buying an additional 429 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Down 0.1 %

Shares of LLY traded down $1.02 during midday trading on Friday, reaching $807.43. The company had a trading volume of 1,758,200 shares, compared to its average volume of 2,993,883. The stock has a market cap of $767.39 billion, a PE ratio of 118.91, a price-to-earnings-growth ratio of 1.75 and a beta of 0.37. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. Eli Lilly and Company has a 1-year low of $419.80 and a 1-year high of $820.60. The firm has a 50 day simple moving average of $765.47 and a 200-day simple moving average of $692.32.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. The business had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company’s revenue was up 26.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.62 EPS. Research analysts forecast that Eli Lilly and Company will post 13.78 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Wednesday, May 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LLY shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 target price (up previously from $815.00) on shares of Eli Lilly and Company in a research report on Tuesday, April 30th. Truist Financial upped their price objective on Eli Lilly and Company from $850.00 to $892.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Argus upped their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Morgan Stanley upped their price objective on Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Finally, TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $769.53.

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.