Marsico Capital Management LLC Trims Stake in Eli Lilly and Company (NYSE:LLY)

Marsico Capital Management LLC lowered its position in Eli Lilly and Company (NYSE:LLY) by 6.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 185,785 shares of the company’s stock after selling 13,006 shares during the period. Eli Lilly and Company comprises 5.0% of Marsico Capital Management LLC’s holdings, making the stock its 7th largest position. Marsico Capital Management LLC’s holdings in Eli Lilly and Company were worth $168,206,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in LLY. Tidemark LLC acquired a new position in Eli Lilly and Company in the 4th quarter worth $29,000. Core Wealth Advisors Inc. grew its stake in shares of Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after acquiring an additional 32 shares in the last quarter. Lynx Investment Advisory bought a new stake in shares of Eli Lilly and Company in the second quarter worth $32,000. LGT Financial Advisors LLC acquired a new stake in Eli Lilly and Company in the 2nd quarter valued at $36,000. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Transactions at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 9,671 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $902.67, for a total transaction of $8,729,721.57. Following the sale, the insider now owns 97,574,139 shares of the company’s stock, valued at approximately $88,077,248,051.13. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 451,900 shares of company stock worth $418,732,178. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the topic of several analyst reports. BMO Capital Markets upped their price target 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. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft raised Eli Lilly and Company from a “hold” rating to a “buy” rating and boosted their price target for the stock from $725.00 to $1,025.00 in a research report on Monday, August 12th. Berenberg Bank lifted their target price on Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Finally, Truist Financial reaffirmed a “buy” rating and set a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $977.35.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $906.17 on Wednesday. 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 $861.23 billion, a PE ratio of 133.46, a P/E/G 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’s 50-day moving average price is $896.70 and its two-hundred day moving average price is $835.96.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating 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%. As a group, analysts expect that Eli Lilly and Company will post 16.49 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were paid 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 0.57%. Eli Lilly and Company’s payout ratio is presently 76.58%.

Eli Lilly and Company 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.