Primecap Management Co. CA Has $17.76 Billion Holdings in Eli Lilly and Company (NYSE:LLY)

Primecap Management Co. CA trimmed its holdings in Eli Lilly and Company (NYSE:LLY) by 7.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,618,082 shares of the company’s stock after selling 1,636,108 shares during the period. Eli Lilly and Company accounts for approximately 12.9% of Primecap Management Co. CA’s holdings, making the stock its largest position. Primecap Management Co. CA owned about 2.06% of Eli Lilly and Company worth $17,761,819,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of LLY. Swedbank AB acquired a new stake in shares of Eli Lilly and Company in the first quarter worth $932,797,000. Vanguard Group Inc. raised its stake in Eli Lilly and Company by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 72,745,011 shares of the company’s stock valued at $56,592,709,000 after purchasing an additional 1,133,810 shares during the last quarter. Wulff Hansen & CO. raised its stake in Eli Lilly and Company by 90,438.0% during the 2nd quarter. Wulff Hansen & CO. now owns 937,068 shares of the company’s stock valued at $848,403,000 after purchasing an additional 936,033 shares during the last quarter. GQG Partners LLC raised its stake in Eli Lilly and Company by 20.2% during the 1st quarter. GQG Partners LLC now owns 3,848,886 shares of the company’s stock valued at $2,994,280,000 after purchasing an additional 648,094 shares during the last quarter. Finally, Capital International Investors raised its stake in Eli Lilly and Company by 8.1% during the 4th 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 last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 1,441 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $915.02, for a total transaction of $1,318,543.82. Following the sale, the insider now owns 97,367,369 shares of the company’s stock, valued at approximately $89,093,089,982.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 451,900 shares of company stock valued at $418,732,178 in the last 90 days. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Stock Up 0.0 %

LLY opened at $924.05 on Tuesday. The firm’s 50-day simple moving average is $897.24 and its 200-day simple moving average is $835.09. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. Eli Lilly and Company has a twelve month low of $516.57 and a twelve month high of $972.53. The firm has a market cap of $878.22 billion, a price-to-earnings ratio of 136.09, a PEG ratio of 2.79 and a beta of 0.42.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $9.83 billion. Equities research analysts anticipate that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday. BMO Capital Markets upped their target price on shares of Eli Lilly and Company from $1,001.00 to $1,101.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Morgan Stanley reiterated 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 upped their target price on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Finally, Jefferies Financial Group increased their price objective on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $977.35.

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.