Eli Lilly and Company (NYSE:LLY) Stock Position Decreased by Carret Asset Management LLC

Carret Asset Management LLC cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 5.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,174 shares of the company’s stock after selling 390 shares during the quarter. Carret Asset Management LLC’s holdings in Eli Lilly and Company were worth $4,803,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Versant Capital Management Inc boosted its stake in shares of Eli Lilly and Company by 1.8% during the 1st quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock worth $573,000 after acquiring an additional 13 shares in the last quarter. Moseley Investment Management Inc. boosted its position in shares of Eli Lilly and Company by 0.4% in the first quarter. Moseley Investment Management Inc. now owns 3,890 shares of the company’s stock worth $3,027,000 after buying an additional 14 shares during the period. CGN Advisors LLC boosted its position in shares of Eli Lilly and Company by 1.4% in the first quarter. CGN Advisors LLC now owns 1,001 shares of the company’s stock worth $779,000 after buying an additional 14 shares during the period. Buckhead Capital Management LLC boosted its position in shares of Eli Lilly and Company by 0.7% in the fourth quarter. Buckhead Capital Management LLC now owns 2,104 shares of the company’s stock worth $1,226,000 after buying an additional 15 shares during the period. Finally, Levin Capital Strategies L.P. boosted its position in shares of Eli Lilly and Company by 3.8% in the fourth quarter. Levin Capital Strategies L.P. now owns 415 shares of the company’s stock worth $242,000 after buying an additional 15 shares during the period. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Down 0.9 %

NYSE LLY opened at $898.10 on Thursday. Eli Lilly and Company has a 1-year low of $434.34 and a 1-year high of $918.50. The stock’s 50 day moving average is $821.29 and its two-hundred day moving average is $745.62. 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 capitalization of $853.56 billion, a price-to-earnings ratio of 132.27, a PEG ratio of 1.98 and a beta of 0.41.

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

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 8,848 shares of Eli Lilly and Company stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $915.31, for a total value of $8,098,662.88. Following the completion of the transaction, the insider now owns 97,299,772 shares in the company, valued at $89,059,454,309.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total value of $5,781,545.28. Following the completion of the transaction, the executive vice president now owns 25,428 shares in the company, valued at approximately $20,835,194.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Lilly Endowment Inc sold 8,848 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $915.31, for a total transaction of $8,098,662.88. Following the completion of the transaction, the insider now owns 97,299,772 shares of the company’s stock, valued at approximately $89,059,454,309.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 858,742 shares of company stock worth $735,573,781. Insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on LLY shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday. Argus increased their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Bank of America reiterated a “buy” rating and set a $1,000.00 price objective on shares of Eli Lilly and Company in a report on Monday, June 24th. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Finally, TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average target price of $812.72.

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.