Quest Investment Management LLC Reduces Holdings in Eli Lilly and Company (NYSE:LLY)

Quest Investment Management LLC trimmed its stake in Eli Lilly and Company (NYSE:LLY) by 4.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,119 shares of the company’s stock after selling 915 shares during the period. Eli Lilly and Company accounts for about 2.2% of Quest Investment Management LLC’s investment portfolio, making the stock its 11th biggest holding. Quest Investment Management LLC’s holdings in Eli Lilly and Company were worth $20,026,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Frank Rimerman Advisors LLC increased its stake in shares of Eli Lilly and Company by 21,390.6% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,754 shares of the company’s stock worth $12,453,000 after acquiring an additional 13,690 shares in the last quarter. Holderness Investments Co. increased its stake in shares of Eli Lilly and Company by 3.5% in the 2nd quarter. Holderness Investments Co. now owns 2,261 shares of the company’s stock worth $2,047,000 after acquiring an additional 76 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Eli Lilly and Company by 7.4% in the 2nd quarter. ProShare Advisors LLC now owns 120,302 shares of the company’s stock worth $108,919,000 after acquiring an additional 8,246 shares in the last quarter. Kowal Investment Group LLC increased its stake in shares of Eli Lilly and Company by 16.7% in the 2nd quarter. Kowal Investment Group LLC now owns 1,287 shares of the company’s stock worth $1,165,000 after acquiring an additional 184 shares in the last quarter. Finally, Hancock Whitney Corp increased its stake in shares of Eli Lilly and Company by 16.8% in the 2nd quarter. Hancock Whitney Corp now owns 41,484 shares of the company’s stock worth $37,559,000 after acquiring an additional 5,982 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Jefferies Financial Group raised their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Citigroup initiated coverage on shares of Eli Lilly and Company in a research note on Friday, September 13th. They set a “buy” rating and a $1,060.00 price objective for the company. Barclays raised their price objective on shares of Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Finally, Wells Fargo & Company raised their price objective on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $977.35.

Eli Lilly and Company Stock Performance

LLY opened at $921.49 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.87 and a debt-to-equity ratio of 1.74. The company has a market cap of $875.79 billion, a price-to-earnings ratio of 135.71, a PEG ratio of 2.79 and a beta of 0.42. The company’s 50 day moving average is $895.06 and its 200 day moving average is $838.32. Eli Lilly and Company has a 12-month low of $516.57 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $1.28. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $9.83 billion. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. On average, equities research analysts predict that Eli Lilly and Company will post 16.49 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.56%. The ex-dividend date was Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 17,229 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $902.38, for a total transaction of $15,547,105.02. Following the transaction, the insider now owns 97,556,910 shares of the company’s stock, valued at $88,033,404,445.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 442,229 shares of company stock valued at $410,002,456 over the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

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.