Oxbow Advisors LLC Decreases Stake in Eli Lilly and Company (NYSE:LLY)

Oxbow Advisors LLC reduced its position in Eli Lilly and Company (NYSE:LLY) by 19.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,021 shares of the company’s stock after selling 243 shares during the period. Oxbow Advisors LLC’s holdings in Eli Lilly and Company were worth $794,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in LLY. Norges Bank purchased a new stake in shares of Eli Lilly and Company in the fourth quarter worth about $5,992,890,000. International Assets Investment Management LLC raised its position in Eli Lilly and Company by 61,268.8% during the fourth quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock valued at $42,802,530,000 after purchasing an additional 7,330,815 shares during the period. Sapient Capital LLC purchased a new stake in Eli Lilly and Company during the fourth quarter valued at approximately $682,139,000. Vanguard Group Inc. raised its position in Eli Lilly and Company by 0.9% during the third quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after purchasing an additional 659,838 shares during the period. Finally, Capital International Investors raised 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 valued at $3,868,559,000 after purchasing an additional 497,079 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the transaction, the insider now directly owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the transaction, the insider now directly owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the transaction, the chief accounting officer now owns 7,130 shares in the company, valued at $5,842,821.10. The disclosure for this sale can be found here. Insiders have sold a total of 1,214,704 shares of company stock worth $1,066,841,316 in the last ninety days. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Stock Up 1.2 %

Shares of NYSE:LLY traded up $11.37 on Friday, reaching $945.51. The company had a trading volume of 766,238 shares, compared to its average volume of 2,919,053. Eli Lilly and Company has a 52-week low of $434.34 and a 52-week high of $948.71. The firm’s 50 day simple moving average is $845.17 and its 200-day simple moving average is $760.02. The firm has a market capitalization of $898.62 billion, a PE ratio of 137.58, a PEG ratio of 2.05 and a beta of 0.41. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The business had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. During the same period last year, the business posted $1.62 EPS. The business’s revenue was up 26.0% compared to the same quarter last year. As a group, analysts expect that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be paid a dividend of $1.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.55%. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on LLY shares. Berenberg Bank upped their price objective on Eli Lilly and Company from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday. 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 note on Wednesday. The Goldman Sachs Group raised their price target on Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Truist Financial reissued a “buy” rating and set a $1,000.00 price target (up from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. Finally, Citigroup raised their price target on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Three research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target of $843.00.

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.