Sharpepoint LLC has decreased its holdings in Eli Lilly and Company (NYSE: LLY) by 23.5% during the first quarter of 2023, as indicated by its latest filing with the Securities and Exchange Commission (SEC). Following the sale of 2,220 shares, the firm retains 7,209 shares of Eli Lilly, which constitutes approximately 5.7% of Sharpepoint’s overall portfolio, making it the largest single investment. As of the end of the most recent reporting period, these holdings were valued at $6.38 million.
Other institutional investors have also adjusted their positions in Eli Lilly recently. For instance, Knightsbridge Asset Management LLC increased its stake by 1.9% during the fourth quarter, now owning 813 shares worth $628,000 after acquiring an additional 15 shares. Similarly, LS Investment Advisors LLC lifted its holdings in Eli Lilly by 1.7% in the first quarter, bringing its total to 2,340 shares valued at $1.93 million.
In a more significant move, CSM Advisors LLC raised its stake by 30.6% in the fourth quarter, now holding 1,045 shares worth $807,000. Proficio Capital Partners LLC also saw a substantial increase of 30.2% in its stake during the same period, now owning 6,739 shares valued at $5.2 million. Finally, Bfsg LLC raised its position by 1.4% in the first quarter, now holding 2,959 shares worth $2.44 million. Overall, institutional investors now control 82.53% of Eli Lilly’s stock.
Eli Lilly’s Stock Performance and Dividend Announcement
Eli Lilly’s stock opened at $787.00 on Thursday, reflecting a 1.2% increase. The company has a market capitalization of $745.87 billion and key financial ratios that include a debt-to-equity ratio of 2.18 and a price-to-earnings (PE) ratio of 64.04. Over the past year, the stock has fluctuated between a low of $677.09 and a high of $972.53. As of now, Eli Lilly’s fifty-day moving average stands at $767.12, while the 200-day average is $800.05.
Additionally, Eli Lilly has announced a quarterly dividend of $1.50 per share, payable on September 10, 2023, to shareholders on record as of August 15, 2023. This represents an annualized dividend of $6.00 and a yield of 0.76%. The current dividend payout ratio is 48.82%.
Analyst Ratings and Market Outlook
Wall Street analysts have recently provided mixed reviews on Eli Lilly’s stock. Wells Fargo & Company reaffirmed an “overweight” rating in a research note dated May 1, 2023. Conversely, Wall Street Zen downgraded Eli Lilly from a “buy” to a “hold” rating on June 28, 2023. Morgan Stanley also maintained an “overweight” rating on the same date.
In a notable downgrade, HSBC reduced its rating from “buy” to “reduce” and adjusted its target price from $1,150.00 to $700.00 in a report issued on April 28, 2023. Meanwhile, Guggenheim reiterated a “buy” rating with a price objective of $936.00 in a report dated June 20, 2023. Currently, Eli Lilly has one sell rating, four hold ratings, and sixteen buy ratings, leading to a consensus rating of “Moderate Buy” with an average target price of $1,011.61, according to data from MarketBeat.com.
Eli Lilly and Company focuses on discovering, developing, and marketing human pharmaceuticals globally. The company provides a range of medications targeting diabetes, obesity, and other health conditions, including Basaglar, Humalog, and Jardiance.
