Sawgrass Asset Management LLC Has $17.95 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Sawgrass Asset Management LLC lessened its holdings in Eli Lilly and Company (NYSE:LLY) by 3.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,255 shares of the company’s stock after selling 704 shares during the period. Eli Lilly and Company accounts for about 1.9% of Sawgrass Asset Management LLC’s investment portfolio, making the stock its 11th biggest holding. Sawgrass Asset Management LLC’s holdings in Eli Lilly and Company were worth $17,945,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. boosted its position in Eli Lilly and Company by 19.6% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,897 shares of the company’s stock worth $7,699,000 after purchasing an additional 1,620 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Eli Lilly and Company by 6.6% in the first quarter. Acadian Asset Management LLC now owns 36,897 shares of the company’s stock worth $28,699,000 after buying an additional 2,289 shares during the last quarter. Edgestream Partners L.P. boosted its holdings in shares of Eli Lilly and Company by 13.8% during the 1st quarter. Edgestream Partners L.P. now owns 5,348 shares of the company’s stock worth $4,161,000 after buying an additional 649 shares during the period. Covestor Ltd grew its stake in Eli Lilly and Company by 6.5% in the 1st quarter. Covestor Ltd now owns 296 shares of the company’s stock valued at $230,000 after buying an additional 18 shares during the last quarter. Finally, Alley Investment Management Company LLC raised its holdings in Eli Lilly and Company by 0.4% in the 1st quarter. Alley Investment Management Company LLC now owns 10,623 shares of the company’s stock worth $8,264,000 after acquiring an additional 38 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $803.38, for a total transaction of $723,042.00. Following the completion of the sale, the chief accounting officer now directly owns 5,480 shares of the company’s stock, valued at $4,402,522.40. This trade represents a 14.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Evercore ISI upgraded shares of Eli Lilly and Company to a “hold” rating in a report on Thursday, September 5th. Truist Financial increased their target price on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. BMO Capital Markets lifted their price target 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. Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company raised their price objective on shares of Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,007.94.

Eli Lilly and Company Trading Down 4.9 %

Shares of LLY opened at $746.20 on Friday. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The stock has a market cap of $708.38 billion, a PE ratio of 80.67, a PEG ratio of 2.82 and a beta of 0.43. Eli Lilly and Company has a 1 year low of $561.65 and a 1 year high of $972.53. The stock has a 50 day simple moving average of $882.65 and a 200-day simple moving average of $870.38.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results 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 company had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $12.09 billion. Eli Lilly and Company had a net margin of 20.48% and a return on equity of 71.08%. The business’s revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the company earned $0.10 earnings per share. On average, sell-side analysts predict that Eli Lilly and Company will post 13.21 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.70%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s dividend 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.