Tributary Capital Management LLC Decreases Holdings in Eli Lilly and Company (NYSE:LLY)

Tributary Capital Management LLC trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 12.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,510 shares of the company’s stock after selling 205 shares during the period. Tributary Capital Management LLC’s holdings in Eli Lilly and Company were worth $1,175,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. WESPAC Advisors SoCal LLC boosted its position in Eli Lilly and Company by 4.1% in the 1st quarter. WESPAC Advisors SoCal LLC now owns 14,448 shares of the company’s stock valued at $11,240,000 after buying an additional 565 shares during the last quarter. Bridgewealth Advisory Group LLC purchased a new position in Eli Lilly and Company in the 1st quarter valued at about $233,000. Congress Wealth Management LLC DE boosted its position in Eli Lilly and Company by 6.1% in the 1st quarter. Congress Wealth Management LLC DE now owns 38,576 shares of the company’s stock valued at $30,011,000 after buying an additional 2,212 shares during the last quarter. Hexagon Capital Partners LLC boosted its position in Eli Lilly and Company by 12.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 720 shares of the company’s stock valued at $560,000 after buying an additional 81 shares during the last quarter. Finally, Consilio Wealth Advisors LLC boosted its position in Eli Lilly and Company by 9.2% in the 1st quarter. Consilio Wealth Advisors LLC now owns 725 shares of the company’s stock valued at $564,000 after buying an additional 61 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LLY has been the subject of a number of analyst reports. Bank of America reissued a “buy” rating and issued a $1,000.00 price objective on shares of Eli Lilly and Company in a research report on Monday, June 24th. Truist Financial restated a “buy” rating and issued a $1,000.00 target price (up previously from $892.00) on shares of Eli Lilly and Company in a research note on Tuesday, June 25th. The Goldman Sachs Group upped their target price on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. upped 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 research note on Wednesday, May 1st. Finally, Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus target price of $812.72.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of the stock in a transaction that occurred 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 directly owns 98,554,195 shares in the company, valued at $79,730,343,755. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Donald A. Zakrowski sold 750 shares of the firm’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 transaction of $614,602.50. Following the completion of the sale, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The disclosure for this sale can be found here. Insiders sold 849,894 shares of company stock worth $727,475,118 over the last three months. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $906.71 on Wednesday. The firm’s 50 day moving average is $818.06 and its two-hundred day moving average is $743.26. Eli Lilly and Company has a 52 week low of $434.34 and a 52 week high of $916.83. The firm has a market capitalization of $861.75 billion, a P/E ratio of 133.54, a PEG ratio of 1.97 and a beta of 0.41. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90.

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

Eli Lilly and Company Dividend Announcement

The business also recently disclosed 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. This represents a $5.20 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

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.