Public Employees Retirement Association of Colorado Trims Stock Position in Eli Lilly and Company (NYSE:LLY)

Public Employees Retirement Association of Colorado cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.7% during the second quarter, HoldingsChannel.com reports. The fund owned 112,286 shares of the company’s stock after selling 3,058 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Eli Lilly and Company were worth $101,661,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Lynx Investment Advisory bought a new position in Eli Lilly and Company in the second quarter worth approximately $32,000. LGT Financial Advisors LLC bought a new position in Eli Lilly and Company in the second quarter worth approximately $36,000. Morton Brown Family Wealth LLC raised its stake in Eli Lilly and Company by 45.5% in the second quarter. Morton Brown Family Wealth LLC now owns 48 shares of the company’s stock worth $41,000 after buying an additional 15 shares in the last quarter. Core Wealth Advisors Inc. raised its stake in Eli Lilly and Company by 188.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after buying an additional 32 shares in the last quarter. Finally, Tidemark LLC bought a new position in Eli Lilly and Company in the fourth quarter worth approximately $29,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on LLY shares. Morgan Stanley reissued an “overweight” rating and issued a $1,106.00 price objective on shares of Eli Lilly and Company in a research note on Tuesday, August 27th. Wells Fargo & Company boosted 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. Citigroup initiated coverage on shares of Eli Lilly and Company in a research note on Friday, September 13th. They issued a “buy” rating and a $1,060.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and lifted their price target for the stock from $725.00 to $1,025.00 in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Eli Lilly and Company from $1,050.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, September 13th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target of $977.35.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 1,441 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $915.02, for a total value of $1,318,543.82. Following the completion of the transaction, the insider now owns 97,367,369 shares in the company, valued at $89,093,089,982.38. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 442,229 shares of company stock worth $410,002,456. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

NYSE:LLY opened at $915.04 on Friday. Eli Lilly and Company has a one year low of $516.57 and a one year high of $972.53. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.87 and a current ratio of 1.11. The firm has a market cap of $869.66 billion, a price-to-earnings ratio of 134.76, a PEG ratio of 2.79 and a beta of 0.42. The firm’s fifty day moving average is $895.62 and its two-hundred day moving average is $836.99.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, August 8th. The company reported $3.92 EPS for the quarter, beating the consensus estimate of $2.64 by $1.28. Eli Lilly and Company had a net margin of 18.86% and a return on equity of 67.52%. The company had revenue of $11.30 billion for the quarter, compared to analyst estimates of $9.83 billion. Research analysts expect that Eli Lilly and Company will post 16.49 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were given a $1.30 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.57%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

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.