Huber Capital Management LLC Sells 600 Shares of Eli Lilly and Company (NYSE:LLY)

Huber Capital Management LLC cut its stake in Eli Lilly and Company (NYSE:LLY) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,437 shares of the company’s stock after selling 600 shares during the quarter. Eli Lilly and Company makes up approximately 4.6% of Huber Capital Management LLC’s investment portfolio, making the stock its 5th largest holding. Huber Capital Management LLC’s holdings in Eli Lilly and Company were worth $20,314,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of LLY. Swedbank AB acquired a new position in Eli Lilly and Company in the 1st quarter valued at $932,797,000. Vanguard Group Inc. boosted its position in shares of Eli Lilly and Company by 1.6% in the first quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after acquiring an additional 1,133,810 shares during the period. Wulff Hansen & CO. grew its stake in shares of Eli Lilly and Company by 90,438.0% in the second quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after acquiring an additional 936,033 shares in the last quarter. GQG Partners LLC grew its stake in shares of Eli Lilly and Company by 20.2% in the first quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after acquiring an additional 648,094 shares in the last quarter. Finally, Capital International Investors increased its position in Eli Lilly and Company by 8.1% during the fourth quarter. Capital International Investors now owns 6,636,833 shares of the company’s stock worth $3,868,559,000 after acquiring an additional 497,079 shares during the period. Institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. BMO Capital Markets increased their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,106.00 price objective on shares of Eli Lilly and Company in a report on Tuesday, August 27th. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, September 16th. Barclays raised their price target on Eli Lilly and Company from $913.00 to $1,025.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Finally, Evercore ISI raised shares of Eli Lilly and Company to a “hold” rating in a research report on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $977.35.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 1,441 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $915.02, for a total transaction of $1,318,543.82. Following the completion of the transaction, the insider now directly owns 97,367,369 shares of the company’s stock, valued at approximately $89,093,089,982.38. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 442,229 shares of company stock valued at $410,002,456 over the last 90 days. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Price Performance

Shares of LLY opened at $921.72 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The stock has a market cap of $876.01 billion, a PE ratio of 135.75, a PEG ratio of 2.79 and a beta of 0.42. Eli Lilly and Company has a 12-month low of $516.57 and a 12-month high of $972.53. The business has a 50-day simple moving average of $895.06 and a two-hundred day simple moving average of $837.89.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, August 8th. The company reported $3.92 earnings per share (EPS) for the quarter, beating 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 business had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. Analysts anticipate that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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

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.