Capital Market Strategies LLC Decreases Stake in Eli Lilly and Company (NYSE:LLY)

Capital Market Strategies LLC lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 0.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,424 shares of the company’s stock after selling 26 shares during the quarter. Eli Lilly and Company makes up 2.0% of Capital Market Strategies LLC’s holdings, making the stock its 9th biggest holding. Capital Market Strategies LLC’s holdings in Eli Lilly and Company were worth $2,664,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LLY. Loomis Sayles & Co. L P lifted its holdings in shares of Eli Lilly and Company by 324.2% during the third quarter. Loomis Sayles & Co. L P now owns 1,069 shares of the company’s stock worth $574,000 after purchasing an additional 817 shares during the period. Bison Wealth LLC lifted its holdings in Eli Lilly and Company by 13.8% in the third quarter. Bison Wealth LLC now owns 4,504 shares of the company’s stock valued at $2,420,000 after buying an additional 546 shares during the period. Rathbones Group PLC lifted its holdings in Eli Lilly and Company by 28.0% in the third quarter. Rathbones Group PLC now owns 72,222 shares of the company’s stock valued at $38,793,000 after buying an additional 15,803 shares during the period. V Square Quantitative Management LLC lifted its holdings in Eli Lilly and Company by 17.0% in the third quarter. V Square Quantitative Management LLC now owns 5,760 shares of the company’s stock valued at $3,094,000 after buying an additional 837 shares during the period. Finally, Provence Wealth Management Group lifted its holdings in Eli Lilly and Company by 10.3% in the third quarter. Provence Wealth Management Group now owns 2,386 shares of the company’s stock valued at $1,282,000 after buying an additional 223 shares during the period. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 0.7 %

NYSE:LLY opened at $891.46 on Thursday. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. The firm has a 50-day moving average of $793.39 and a 200-day moving average of $724.73. The company has a market cap of $847.25 billion, a PE ratio of 131.29, a PEG ratio of 1.94 and a beta of 0.36. Eli Lilly and Company has a one year low of $434.34 and a one year high of $894.87.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The business had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. During the same period in the prior year, the firm posted $1.62 EPS. The firm’s quarterly revenue was up 26.0% compared to the same quarter last year. As a group, equities research analysts expect that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Wednesday, May 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Analyst Upgrades and Downgrades

LLY has been the topic of several recent analyst reports. DZ Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 target price on the stock. in a report on Wednesday, February 21st. JPMorgan Chase & Co. boosted their target price on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Truist Financial boosted their target price on shares of Eli Lilly and Company from $850.00 to $892.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. BMO Capital Markets upped their price objective on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Finally, Argus upped their price objective on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $787.53.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the sale, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 194,978 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $885.91, for a total transaction of $172,732,959.98. Following the completion of the transaction, the insider now owns 97,583,810 shares in the company, valued at $86,450,473,117.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 762,804 shares of company stock valued at $648,109,138. Corporate insiders own 0.13% of the company’s stock.

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.