Occidental Asset Management LLC Sells 149 Shares of Eli Lilly and Company (NYSE:LLY)

Occidental Asset Management LLC decreased its holdings in Eli Lilly and Company (NYSE:LLY) by 8.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,567 shares of the company’s stock after selling 149 shares during the period. Occidental Asset Management LLC’s holdings in Eli Lilly and Company were worth $1,219,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in LLY. Norges Bank bought a new position in shares of Eli Lilly and Company in the fourth quarter worth about $5,992,890,000. International Assets Investment Management LLC boosted its stake in shares of Eli Lilly and Company by 61,268.8% in the fourth quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock worth $42,802,530,000 after acquiring an additional 7,330,815 shares during the period. Sapient Capital LLC bought a new position in shares of Eli Lilly and Company in the fourth quarter worth about $682,139,000. Vanguard Group Inc. boosted its stake in Eli Lilly and Company by 0.9% during the third quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after buying an additional 659,838 shares during the last quarter. Finally, Comerica Bank bought a new position in Eli Lilly and Company during the third quarter valued at approximately $345,781,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Down 0.4 %

Shares of NYSE LLY opened at $905.38 on Friday. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The business’s 50 day moving average price is $814.40 and its 200-day moving average price is $739.86. Eli Lilly and Company has a fifty-two week low of $434.34 and a fifty-two week high of $915.54. The company has a market cap of $860.48 billion, a price-to-earnings ratio of 133.34, a PEG ratio of 1.97 and a beta of 0.36.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results 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 firm had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. During the same period in the prior year, the business posted $1.62 earnings per share. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. On average, sell-side analysts expect that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a $1.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.57%. Eli Lilly and Company’s payout ratio is 76.58%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LLY shares. Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Bank of America reissued a “buy” rating and set a $1,000.00 price target on shares of Eli Lilly and Company in a research note on Monday, June 24th. JPMorgan Chase & Co. increased their price target on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday, June 24th. Finally, BMO Capital Markets increased their price target on Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $812.72.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $5,842,821.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $5,842,821.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The disclosure for this sale can be found here. Over the last three months, insiders have sold 789,704 shares of company stock worth $672,385,964. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company 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.