Eli Lilly and Company (NYSE:LLY) Stock Holdings Cut by Hudson Canyon Capital Management

Hudson Canyon Capital Management lowered its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 12.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,683 shares of the company’s stock after selling 671 shares during the quarter. Eli Lilly and Company makes up approximately 2.9% of Hudson Canyon Capital Management’s holdings, making the stock its 6th biggest position. Hudson Canyon Capital Management’s holdings in Eli Lilly and Company were worth $4,240,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. D.A. Davidson & CO. raised its holdings in Eli Lilly and Company by 4.9% in the 2nd quarter. D.A. Davidson & CO. now owns 43,054 shares of the company’s stock worth $38,981,000 after purchasing an additional 2,027 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its position in Eli Lilly and Company by 8.3% in the second quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 63,161 shares of the company’s stock worth $57,185,000 after buying an additional 4,819 shares in the last quarter. Drive Wealth Management LLC raised its stake in shares of Eli Lilly and Company by 2.8% in the second quarter. Drive Wealth Management LLC now owns 2,242 shares of the company’s stock worth $2,029,000 after buying an additional 62 shares during the period. JPL Wealth Management LLC lifted its position in shares of Eli Lilly and Company by 38.1% during the 2nd quarter. JPL Wealth Management LLC now owns 783 shares of the company’s stock valued at $709,000 after buying an additional 216 shares in the last quarter. Finally, Massachusetts Wealth Management grew its stake in shares of Eli Lilly and Company by 35.1% during the 2nd quarter. Massachusetts Wealth Management now owns 2,215 shares of the company’s stock valued at $2,005,000 after acquiring an additional 575 shares during the period. Institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 20,383 shares of Eli Lilly and Company stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $836.32, for a total transaction of $17,046,710.56. Following the transaction, the insider now directly owns 98,188,427 shares of the company’s stock, valued at $82,116,945,268.64. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 897,283 shares of company stock valued at $805,651,743 in the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Argus lifted their price target on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Bank of America raised their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. increased their price target on Eli Lilly and Company from $900.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. 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. Finally, BMO Capital Markets increased their target price on 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. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $961.76.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $960.02 on Monday. The stock has a 50 day moving average price of $892.64 and a 200 day moving average price of $822.54. Eli Lilly and Company has a 52-week low of $516.57 and a 52-week high of $972.53. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The firm has a market capitalization of $912.43 billion, a P/E ratio of 141.39, a P/E/G ratio of 2.91 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, topping the consensus estimate 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, sell-side analysts predict that Eli Lilly and Company will post 16.51 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.20 annualized dividend and a yield of 0.54%. Eli Lilly and Company’s payout ratio is currently 76.58%.

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.