Eli Lilly and Company (NYSE:LLY) Stake Lessened by UMB Bank n.a.

UMB Bank n.a. lessened its stake in Eli Lilly and Company (NYSE:LLY) by 4.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 90,226 shares of the company’s stock after selling 4,399 shares during the period. Eli Lilly and Company comprises about 1.2% of UMB Bank n.a.’s investment portfolio, making the stock its 19th largest position. UMB Bank n.a.’s holdings in Eli Lilly and Company were worth $74,519,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in LLY. GAMMA Investing LLC increased its stake in shares of Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock worth $12,278,292,000 after buying an additional 14,852,076 shares during the last quarter. Norges Bank bought a new stake in Eli Lilly and Company during the fourth quarter valued at $8,407,908,000. Proficio Capital Partners LLC increased its stake in Eli Lilly and Company by 100,387.1% during the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock valued at $4,016,110,000 after purchasing an additional 5,197,038 shares during the last quarter. Wellington Management Group LLP increased its stake in Eli Lilly and Company by 19.0% during the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock valued at $9,747,214,000 after purchasing an additional 2,012,129 shares during the last quarter. Finally, Capital International Investors increased its stake in Eli Lilly and Company by 23.2% during the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company’s stock valued at $6,740,272,000 after purchasing an additional 1,645,222 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the sale, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This represents a 14.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Stock Performance

LLY stock opened at $770.00 on Friday. The company has a market capitalization of $729.76 billion, a P/E ratio of 65.76, a PEG ratio of 1.40 and a beta of 0.40. The company has a 50-day simple moving average of $770.87 and a 200 day simple moving average of $800.27. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The business had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same period in the previous year, the company posted $2.58 earnings per share. Eli Lilly and Company’s revenue was up 45.2% compared to the same quarter last year. Sell-side analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Friday, May 16th. Eli Lilly and Company’s payout ratio is 48.82%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on LLY shares. Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 target price for the company. Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Guggenheim reiterated a “buy” rating on shares of Eli Lilly and Company in a research note on Friday, May 23rd. Wall Street Zen upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Hsbc Global Res lowered shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,011.37.

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.