Primecap Management Co. CA Trims Holdings in Eli Lilly and Company (NYSE:LLY)

Primecap Management Co. CA lessened its holdings in Eli Lilly and Company (NYSE:LLY) by 9.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,690,508 shares of the company’s stock after selling 1,927,574 shares during the quarter. Eli Lilly and Company makes up approximately 11.5% of Primecap Management Co. CA’s investment portfolio, making the stock its largest position. Primecap Management Co. CA owned 1.86% of Eli Lilly and Company worth $15,672,729,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. International Assets Investment Management LLC grew its holdings in Eli Lilly and Company by 87,091.7% during the 3rd quarter. International Assets Investment Management LLC now owns 12,463,182 shares of the company’s stock worth $11,041,631,000 after acquiring an additional 12,448,888 shares during the period. Dimensional Fund Advisors LP grew its holdings in Eli Lilly and Company by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,581,075 shares of the company’s stock worth $3,242,296,000 after purchasing an additional 171,595 shares during the period. Janus Henderson Group PLC increased its stake in Eli Lilly and Company by 7.3% in the first quarter. Janus Henderson Group PLC now owns 3,575,684 shares of the company’s stock valued at $2,781,613,000 after purchasing an additional 243,729 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Eli Lilly and Company by 0.7% during the second quarter. Ameriprise Financial Inc. now owns 3,027,901 shares of the company’s stock valued at $2,741,832,000 after purchasing an additional 22,392 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Eli Lilly and Company by 5.1% in the 2nd quarter. American Century Companies Inc. now owns 2,069,881 shares of the company’s stock valued at $1,874,029,000 after buying an additional 100,426 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their target price on Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Bank of America decreased their target price on shares of Eli Lilly and Company from $1,150.00 to $1,100.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Citigroup raised their price target on shares of Eli Lilly and Company from $1,060.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Truist Financial lifted their price objective on shares of Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $1,106.00 price objective on shares of Eli Lilly and Company in a research report on Tuesday, August 27th. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,007.94.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at approximately $4,402,522.40. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $753.41 on Thursday. Eli Lilly and Company has a fifty-two week low of $561.65 and a fifty-two week high of $972.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The stock has a market cap of $715.23 billion, a P/E ratio of 81.45, a price-to-earnings-growth ratio of 2.76 and a beta of 0.43. The firm’s fifty day moving average price is $872.25 and its 200-day moving average price is $869.98.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). The business had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The company’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 earnings per share. On average, equities research analysts expect that Eli Lilly and Company will post 13.21 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Friday, November 15th. Eli Lilly and Company’s payout ratio is currently 56.22%.

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.