Hodges Capital Management Inc. Sells 1,075 Shares of Eli Lilly and Company (NYSE:LLY)

Hodges Capital Management Inc. cut its position in shares of Eli Lilly and Company (NYSE:LLY) by 12.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,230 shares of the company’s stock after selling 1,075 shares during the quarter. Hodges Capital Management Inc.’s holdings in Eli Lilly and Company were worth $5,624,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of LLY. Simon Quick Advisors LLC grew its stake in Eli Lilly and Company by 10.5% in the fourth quarter. Simon Quick Advisors LLC now owns 2,927 shares of the company’s stock valued at $1,706,000 after purchasing an additional 278 shares in the last quarter. Independent Advisor Alliance grew its stake in Eli Lilly and Company by 1.7% in the fourth quarter. Independent Advisor Alliance now owns 32,269 shares of the company’s stock valued at $18,810,000 after purchasing an additional 544 shares in the last quarter. Apexium Financial LP grew its stake in Eli Lilly and Company by 1,819.1% in the fourth quarter. Apexium Financial LP now owns 11,438 shares of the company’s stock valued at $6,667,000 after purchasing an additional 10,842 shares in the last quarter. Clear Harbor Asset Management LLC bought a new position in Eli Lilly and Company in the fourth quarter valued at approximately $363,000. Finally, Terril Brothers Inc. grew its stake in Eli Lilly and Company by 113.2% in the fourth quarter. Terril Brothers Inc. now owns 808 shares of the company’s stock valued at $471,000 after purchasing an additional 429 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s 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 filing with the SEC, which is available through this hyperlink. In other news, CAO Donald A. Zakrowski sold 750 shares of Eli Lilly and Company stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the transaction, the chief accounting officer now owns 7,130 shares in the company, valued at approximately $5,842,821.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the completion of the transaction, the insider now owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The disclosure for this sale can be found here. Insiders have sold a total of 789,704 shares of company stock worth $672,385,964 in the last 90 days. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $905.38 on Friday. The stock’s fifty day moving average price is $814.40 and its two-hundred day moving average price is $739.86. Eli Lilly and Company has a one year low of $434.34 and a one year high of $915.54. 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 market cap of $860.48 billion, a PE ratio of 133.34, a price-to-earnings-growth ratio of 1.97 and a beta of 0.36.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Monday, May 6th. The company reported $2.58 EPS for the quarter, topping 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 firm had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. During the same quarter last year, the company earned $1.62 EPS. The company’s revenue was up 26.0% on a year-over-year basis. As a group, 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 will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be paid a dividend of $1.30 per share. The ex-dividend date is Thursday, August 15th. This represents a $5.20 dividend on an annualized basis and a yield of 0.57%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Analysts Set New Price Targets

A number of research analysts have weighed in on LLY shares. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. raised their price objective on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Truist Financial reaffirmed a “buy” rating and issued a $1,000.00 price objective (up from $892.00) on shares of Eli Lilly and Company in a research report on Tuesday, June 25th. Jefferies Financial Group raised their price objective on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 price objective on shares of Eli Lilly and Company in a research report on Monday, June 24th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $812.72.

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.