AMF Tjanstepension AB Cuts Holdings in Eli Lilly and Company (NYSE:LLY)

AMF Tjanstepension AB reduced its position in Eli Lilly and Company (NYSE:LLY) by 11.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 227,186 shares of the company’s stock after selling 29,431 shares during the quarter. Eli Lilly and Company comprises about 1.3% of AMF Tjanstepension AB’s investment portfolio, making the stock its 22nd biggest position. AMF Tjanstepension AB’s holdings in Eli Lilly and Company were worth $176,763,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Versant Capital Management Inc raised its position in shares of Eli Lilly and Company by 1.8% in the 1st quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock worth $573,000 after buying an additional 13 shares during the period. Moseley Investment Management Inc. increased its holdings in Eli Lilly and Company by 0.4% in the 1st quarter. Moseley Investment Management Inc. now owns 3,890 shares of the company’s stock valued at $3,027,000 after purchasing an additional 14 shares in the last quarter. CGN Advisors LLC increased its holdings in Eli Lilly and Company by 1.4% in the 1st quarter. CGN Advisors LLC now owns 1,001 shares of the company’s stock valued at $779,000 after purchasing an additional 14 shares in the last quarter. Buckhead Capital Management LLC increased its holdings in Eli Lilly and Company by 0.7% in the 4th quarter. Buckhead Capital Management LLC now owns 2,104 shares of the company’s stock valued at $1,226,000 after purchasing an additional 15 shares in the last quarter. Finally, Levin Capital Strategies L.P. increased its holdings in Eli Lilly and Company by 3.8% in the 4th quarter. Levin Capital Strategies L.P. now owns 415 shares of the company’s stock valued at $242,000 after purchasing an additional 15 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $905.87 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The firm’s 50-day moving average price is $814.40 and its two-hundred day moving average price is $738.79. Eli Lilly and Company has a 52-week low of $434.34 and a 52-week high of $915.54. The stock has a market capitalization of $860.95 billion, a P/E ratio of 133.41, a P/E/G ratio of 1.98 and a beta of 0.36.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The firm had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. During the same quarter last year, the company posted $1.62 earnings per share. Eli Lilly and Company’s revenue was up 26.0% on a year-over-year basis. As a group, sell-side analysts forecast that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.57%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. BMO Capital Markets increased their price target on Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Bank of America restated a “buy” rating and set a $1,000.00 target price on shares of Eli Lilly and Company in a research note on Monday, June 24th. Cantor Fitzgerald restated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday, June 24th. The Goldman Sachs Group raised their target price on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. raised their target price on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $812.72.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the completion of the transaction, the insider now directly owns 98,554,195 shares in the company, valued at $79,730,343,755. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the completion of the transaction, the insider now directly owns 98,554,195 shares in the company, valued at $79,730,343,755. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total value of $5,781,545.28. Following the transaction, the executive vice president now owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The disclosure for this sale can be found here. Insiders have sold 789,704 shares of company stock valued at $672,385,964 over the last quarter. Insiders own 0.13% of the company’s stock.

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.