Eli Lilly and Company (NYSE:LLY) is Sawgrass Asset Management LLC’s 10th Largest Position

Sawgrass Asset Management LLC lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,320 shares of the company’s stock after selling 792 shares during the period. Eli Lilly and Company accounts for approximately 1.8% of Sawgrass Asset Management LLC’s holdings, making the stock its 10th biggest position. Sawgrass Asset Management LLC’s holdings in Eli Lilly and Company were worth $15,925,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Eli Lilly and Company by 0.9% in the third quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after buying an additional 659,838 shares during the last quarter. Morgan Stanley boosted its stake in shares of Eli Lilly and Company by 0.7% in the third quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock valued at $6,738,605,000 after purchasing an additional 83,915 shares during the period. Northern Trust Corp boosted its stake in shares of Eli Lilly and Company by 3.6% in the third quarter. Northern Trust Corp now owns 10,158,275 shares of the company’s stock valued at $5,456,314,000 after purchasing an additional 355,317 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Eli Lilly and Company by 61,268.8% in the fourth quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock valued at $42,802,530,000 after purchasing an additional 7,330,815 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Eli Lilly and Company by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,560,553 shares of the company’s stock valued at $2,658,438,000 after purchasing an additional 125,242 shares during the period. Institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Citigroup raised their price objective on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. TheStreet raised shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. The Goldman Sachs Group raised their target price on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Finally, Barclays raised their target price on shares of Eli Lilly and Company from $680.00 to $810.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average target price of $757.95.

Eli Lilly and Company Trading Down 0.4 %

LLY traded down $2.77 during trading on Wednesday, reaching $775.00. The company had a trading volume of 2,010,705 shares, compared to its average volume of 3,076,480. Eli Lilly and Company has a 12-month low of $419.80 and a 12-month high of $800.78. The company has a market cap of $736.56 billion, a price-to-earnings ratio of 114.14, a PEG ratio of 1.45 and a beta of 0.37. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The firm’s 50-day simple moving average is $761.22 and its 200 day simple moving average is $674.88.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. The business had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.62 earnings per share. Equities research analysts anticipate that Eli Lilly and Company will post 13.82 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Wednesday, May 15th. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Eli Lilly and Company 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.