First City Capital Management Inc. Trims Stock Holdings in Eli Lilly and Company (NYSE:LLY)

First City Capital Management Inc. lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 4.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,476 shares of the company’s stock after selling 414 shares during the period. Eli Lilly and Company accounts for approximately 4.3% of First City Capital Management Inc.’s holdings, making the stock its 2nd biggest position. First City Capital Management Inc.’s holdings in Eli Lilly and Company were worth $7,674,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of LLY. AMJ Financial Wealth Management acquired a new position in shares of Eli Lilly and Company during the fourth quarter valued at $201,000. Aveo Capital Partners LLC increased its holdings in shares of Eli Lilly and Company by 8.2% in the 4th quarter. Aveo Capital Partners LLC now owns 2,020 shares of the company’s stock worth $1,178,000 after acquiring an additional 153 shares during the period. Gryphon Financial Partners LLC lifted its position in Eli Lilly and Company by 19.4% in the 4th quarter. Gryphon Financial Partners LLC now owns 2,324 shares of the company’s stock valued at $1,355,000 after purchasing an additional 377 shares during the last quarter. Quest Partners LLC acquired a new position in Eli Lilly and Company during the 4th quarter valued at about $313,000. Finally, Tidemark LLC acquired a new position in Eli Lilly and Company during the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 1,441 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $915.02, for a total value of $1,318,543.82. Following the completion of the transaction, the insider now owns 97,367,369 shares of the company’s stock, valued at approximately $89,093,089,982.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 442,229 shares of company stock worth $410,002,456 over the last 90 days. 0.13% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LLY shares. Truist Financial reaffirmed a “buy” rating and set a $1,000.00 price target (up previously from $892.00) on shares of Eli Lilly and Company in a report on Tuesday, June 25th. Citigroup began coverage on Eli Lilly and Company in a research note on Friday, September 13th. They set a “buy” rating and a $1,060.00 target price on the stock. Jefferies Financial Group boosted their price target on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Wells Fargo & Company raised their price target on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating and upped their price objective for the stock from $725.00 to $1,025.00 in a report on Monday, August 12th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $977.35.

Eli Lilly and Company Stock Performance

LLY opened at $921.49 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.11 and a debt-to-equity ratio of 1.74. The firm has a market cap of $875.79 billion, a PE ratio of 135.71, a P/E/G ratio of 2.79 and a beta of 0.42. The business has a fifty day simple moving average of $895.06 and a 200-day simple moving average of $838.32. Eli Lilly and Company has a fifty-two week low of $516.57 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, August 8th. The company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $1.28. The business had revenue of $11.30 billion during the quarter, compared to analyst estimates of $9.83 billion. Eli Lilly and Company had a return on equity of 67.52% and a net margin of 18.86%. As a group, equities analysts predict that Eli Lilly and Company will post 16.49 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) 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.