Fort Pitt Capital Group LLC Sells 32 Shares of Eli Lilly and Company (NYSE:LLY)

Fort Pitt Capital Group LLC decreased its holdings in Eli Lilly and Company (NYSE:LLY) by 2.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,152 shares of the company’s stock after selling 32 shares during the period. Fort Pitt Capital Group LLC’s holdings in Eli Lilly and Company were worth $896,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Lipe & Dalton bought a new stake in shares of Eli Lilly and Company in the fourth quarter worth $26,000. Tidemark LLC bought a new stake in shares of Eli Lilly and Company in the fourth quarter worth $29,000. Core Wealth Advisors Inc. grew its holdings in shares of 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 acquiring an additional 32 shares during the period. Optiver Holding B.V. bought a new stake in Eli Lilly and Company during the third quarter valued at about $36,000. Finally, Frank Rimerman Advisors LLC bought a new stake in Eli Lilly and Company during the fourth quarter valued at about $37,000. Institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

LLY has been the subject of several recent research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a report on Monday, June 17th. Argus boosted their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. BMO Capital Markets boosted their price target on 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. Truist Financial boosted their price target on Eli Lilly and Company from $850.00 to $892.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $803.50.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the sale, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Johna Norton sold 7,056 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the transaction, the executive vice president now owns 25,428 shares of the company’s stock, valued at $20,835,194.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Donald A. Zakrowski sold 750 shares of the company’s stock in a transaction that occurred on 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 approximately $5,842,821.10. The disclosure for this sale can be found here. Insiders have sold 772,475 shares of company stock valued at $656,838,859 over the last ninety days. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY traded up $2.74 during mid-day trading on Monday, reaching $886.62. The stock had a trading volume of 430,219 shares, compared to its average volume of 2,926,763. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The company has a market cap of $842.65 billion, a P/E ratio of 130.17, a price-to-earnings-growth ratio of 1.93 and a beta of 0.36. Eli Lilly and Company has a 1 year low of $434.34 and a 1 year high of $905.45. The business’s 50 day moving average price is $798.59 and its 200 day moving average price is $729.89.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $8.77 billion for the quarter, compared to analysts’ expectations of $8.94 billion. During the same period in the previous year, the firm posted $1.62 earnings per share. The firm’s revenue for the quarter was up 26.0% on a year-over-year basis. 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 business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were paid a dividend of $1.30 per share. The ex-dividend date was Wednesday, May 15th. This represents a $5.20 annualized dividend and a yield of 0.59%. Eli Lilly and Company’s payout ratio is currently 76.58%.

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.