Eli Lilly and Company (NYSE:LLY) is Primecap Management Co. CA’s Largest Position

Primecap Management Co. CA trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 9.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 17,690,508 shares of the company’s stock after selling 1,927,574 shares during the quarter. Eli Lilly and Company accounts for approximately 11.5% of Primecap Management Co. CA’s investment portfolio, making the stock its biggest position. Primecap Management Co. CA’s holdings in Eli Lilly and Company were worth $15,672,729,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Virtu Financial LLC purchased a new position in shares of Eli Lilly and Company in the 1st quarter worth $2,138,000. Chesley Taft & Associates LLC grew its position in Eli Lilly and Company by 5.4% during the second quarter. Chesley Taft & Associates LLC now owns 22,553 shares of the company’s stock valued at $20,419,000 after buying an additional 1,163 shares during the period. OMNI 360 Wealth Inc. purchased a new stake in shares of Eli Lilly and Company in the 2nd quarter worth $239,000. Long Run Wealth Advisors LLC purchased a new position in Eli Lilly and Company during the second quarter valued at $209,000. Finally, Essex Financial Services Inc. grew its holdings in Eli Lilly and Company by 5.8% during the second quarter. Essex Financial Services Inc. now owns 28,183 shares of the company’s stock valued at $25,517,000 after purchasing an additional 1,556 shares during the period. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 3.2 %

Shares of Eli Lilly and Company stock opened at $753.41 on Thursday. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The firm’s 50 day simple moving average is $872.25 and its two-hundred day simple moving average is $869.98. Eli Lilly and Company has a 12-month low of $561.65 and a 12-month high of $972.53. The firm has a market capitalization of $715.23 billion, a price-to-earnings ratio of 81.45, a PEG ratio of 2.76 and a beta of 0.43.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.52 by ($0.34). The business had revenue of $11.44 billion during the quarter, compared to analyst estimates of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. Eli Lilly and Company’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 EPS. Analysts predict that Eli Lilly and Company will post 13.21 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a $1.30 dividend. The ex-dividend date is Friday, November 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.69%. Eli Lilly and Company’s payout ratio is 56.22%.

Wall Street Analyst Weigh In

LLY has been the topic of a number of analyst reports. BMO Capital Markets lifted their price objective on Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company 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 report on Thursday, September 5th. Morgan Stanley restated an “overweight” rating and set a $1,106.00 target price on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Wells Fargo & Company increased their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Finally, Berenberg Bank upped their price objective 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. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,007.94.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 900 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.13% of the stock is owned by company 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.