Eli Lilly and Company (NYSE:LLY) Holdings Decreased by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC lowered its stake in Eli Lilly and Company (NYSE:LLY) by 24.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,261 shares of the company’s stock after selling 4,994 shares during the quarter. Eli Lilly and Company comprises about 1.3% of Sawgrass Asset Management LLC’s portfolio, making the stock its 26th biggest holding. Sawgrass Asset Management LLC’s holdings in Eli Lilly and Company were worth $11,782,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. AMF Tjanstepension AB boosted its stake in Eli Lilly and Company by 113.7% during the third quarter. AMF Tjanstepension AB now owns 331,786 shares of the company’s stock valued at $293,964,000 after buying an additional 176,552 shares in the last quarter. Values Added Financial LLC increased its stake in Eli Lilly and Company by 4.9% in the 3rd quarter. Values Added Financial LLC now owns 366 shares of the company’s stock worth $324,000 after purchasing an additional 17 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in Eli Lilly and Company by 3.4% in the 3rd quarter. Wedge Capital Management L L P NC now owns 876 shares of the company’s stock worth $776,000 after purchasing an additional 29 shares during the period. PFG Advisors grew its holdings in shares of Eli Lilly and Company by 1.6% during the third quarter. PFG Advisors now owns 3,417 shares of the company’s stock valued at $3,027,000 after buying an additional 53 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in Eli Lilly and Company by 4.8% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 305 shares of the company’s stock valued at $270,000 after acquiring an additional 14 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on LLY. Citigroup decreased their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Barclays dropped their price target on shares of Eli Lilly and Company from $1,025.00 to $975.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, Truist Financial upped their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $997.50.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $872.81 on Friday. The firm has a market capitalization of $828.58 billion, a PE ratio of 74.54, a PEG ratio of 1.87 and a beta of 0.42. Eli Lilly and Company has a 1 year low of $711.40 and a 1 year high of $972.53. 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 fifty day simple moving average is $793.14 and its 200 day simple moving average is $844.15.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, February 6th. The company reported $5.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.45 by ($0.13). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 86.26%. On average, sell-side analysts anticipate that Eli Lilly and Company will post 23.33 EPS for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $1.50 dividend. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.30. This represents a $6.00 annualized dividend and a yield of 0.69%. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s payout ratio is currently 44.41%.

Eli Lilly and Company announced that its board has authorized a stock repurchase plan on Monday, December 9th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.