Public Employees Retirement Association of Colorado Cuts Stock Position in Eli Lilly and Company (NYSE:LLY)

Public Employees Retirement Association of Colorado lessened its holdings in Eli Lilly and Company (NYSE:LLY) by 2.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 112,286 shares of the company’s stock after selling 3,058 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Eli Lilly and Company were worth $101,661,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased 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 buying an additional 1,133,810 shares in the last quarter. Capital World Investors increased its stake in Eli Lilly and Company by 0.3% in the 4th quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock worth $15,709,466,000 after buying an additional 89,720 shares in the last quarter. Capital Research Global Investors increased its stake in Eli Lilly and Company by 6.0% in the 1st quarter. Capital Research Global Investors now owns 8,031,531 shares of the company’s stock worth $6,248,210,000 after buying an additional 453,939 shares in the last quarter. Capital International Investors increased its stake in Eli Lilly and Company by 5.1% in the 1st quarter. Capital International Investors now owns 6,972,393 shares of the company’s stock worth $5,424,243,000 after buying an additional 335,560 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in Eli Lilly and Company by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 4,542,089 shares of the company’s stock worth $2,647,675,000 after buying an additional 85,015 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on LLY shares. Deutsche Bank Aktiengesellschaft raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and increased their price objective for the company from $725.00 to $1,025.00 in a report on Monday, August 12th. JPMorgan Chase & Co. increased their price objective on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday. Bank of America increased their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Guggenheim increased their price objective on shares of Eli Lilly and Company from $884.00 to $1,030.00 and gave the company a “buy” rating in a report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $977.35.

Insider Buying and Selling

In other news, major shareholder Lilly Endowment Inc sold 210,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $939.82, for a total transaction of $197,362,200.00. Following the transaction, the insider now directly owns 96,943,810 shares of the company’s stock, valued at $91,109,731,514.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold 442,229 shares of company stock valued at $410,002,456 in the last ninety days. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $915.04 on Friday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.11 and a quick ratio of 0.87. Eli Lilly and Company has a 1-year low of $516.57 and a 1-year high of $972.53. The firm has a market capitalization of $869.66 billion, a P/E ratio of 134.76, a price-to-earnings-growth ratio of 2.79 and a beta of 0.42. The company’s 50-day moving average is $895.62 and its 200 day moving average is $836.99.

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

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

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.