Bridge Creek Capital Management LLC Sells 125 Shares of Eli Lilly and Company (NYSE:LLY)

Bridge Creek Capital Management LLC cut its stake in Eli Lilly and Company (NYSE:LLY) by 5.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,325 shares of the company’s stock after selling 125 shares during the quarter. Bridge Creek Capital Management LLC’s holdings in Eli Lilly and Company were worth $1,809,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Eli Lilly and Company by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after purchasing an additional 659,838 shares during the period. Capital World Investors grew its position in shares of Eli Lilly and Company by 0.3% in the 4th quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock valued at $15,709,466,000 after purchasing an additional 89,720 shares during the period. Morgan Stanley grew its position in shares of Eli Lilly and Company by 0.7% in the 3rd 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. Norges Bank acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at approximately $5,992,890,000. Finally, Capital Research Global Investors grew its position in shares of Eli Lilly and Company by 4.5% in the 4th quarter. Capital Research Global Investors now owns 7,577,592 shares of the company’s stock valued at $4,417,120,000 after purchasing an additional 325,342 shares during the period. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Trading Up 0.7 %

Shares of Eli Lilly and Company stock opened at $890.30 on Monday. Eli Lilly and Company has a 12-month low of $434.34 and a 12-month high of $905.45. The stock has a market cap of $846.15 billion, a P/E ratio of 130.17, a P/E/G ratio of 1.93 and a beta of 0.36. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The business’s 50 day moving average is $798.59 and its 200-day moving average is $729.89.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly 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. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The business had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. During the same quarter in the prior year, the business earned $1.62 EPS. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. Equities research analysts predict that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. BMO Capital Markets boosted their price objective on Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. JPMorgan Chase & Co. upped their price target on Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Truist Financial upped their price target on Eli Lilly and Company from $850.00 to $892.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, Argus upped their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus target price of $803.50.

Insider Activity at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total value of $1,660,068.00. Following the sale, the insider now owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the transaction, the insider now owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Johna Norton sold 7,056 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total value of $5,781,545.28. Following the transaction, the executive vice president now owns 25,428 shares in the company, valued at approximately $20,835,194.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 772,475 shares of company stock worth $656,838,859. Company insiders own 0.13% of the company’s stock.

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.