OVERSEA CHINESE BANKING Corp Ltd Sells 2,024 Shares of Eli Lilly and Company (NYSE:LLY)

OVERSEA CHINESE BANKING Corp Ltd trimmed its position in Eli Lilly and Company (NYSE:LLY) by 15.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,713 shares of the company’s stock after selling 2,024 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Eli Lilly and Company were worth $8,843,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Knightsbridge Asset Management LLC boosted its position in Eli Lilly and Company by 1.9% in the fourth quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company’s stock valued at $628,000 after buying an additional 15 shares in the last quarter. LS Investment Advisors LLC boosted its position in Eli Lilly and Company by 1.7% in the first quarter. LS Investment Advisors LLC now owns 2,340 shares of the company’s stock valued at $1,933,000 after buying an additional 40 shares in the last quarter. Prism Advisors Inc. acquired a new stake in Eli Lilly and Company in the first quarter valued at approximately $207,000. CSM Advisors LLC boosted its position in Eli Lilly and Company by 30.6% in the fourth quarter. CSM Advisors LLC now owns 1,045 shares of the company’s stock valued at $807,000 after buying an additional 245 shares in the last quarter. Finally, Bfsg LLC boosted its position in Eli Lilly and Company by 1.4% in the first quarter. Bfsg LLC now owns 2,959 shares of the company’s stock valued at $2,444,000 after buying an additional 42 shares in the last quarter. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Trading Up 2.9%

LLY opened at $761.47 on Friday. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. 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 company has a market cap of $721.67 billion, a P/E ratio of 61.96, a price-to-earnings-growth ratio of 1.05 and a beta of 0.44. The company has a fifty day moving average price of $775.51 and a two-hundred day moving average price of $799.86.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $12.77 billion. During the same period last year, the firm posted $2.58 earnings per share. The company’s revenue for the quarter was up 45.2% on a year-over-year basis. Analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company’s payout ratio is 48.82%.

Analysts Set New Price Targets

A number of brokerages have weighed in on LLY. Guggenheim raised their target price on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the company a “buy” rating in a research report on Friday, July 11th. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and cut their target price for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. Erste Group Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, June 5th. Hsbc Global Res lowered shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research report on Monday, April 28th. Finally, 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 target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target of $1,012.56.

About Eli Lilly and Company

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.