Morse Asset Management Inc Has $8.29 Million Holdings in Eli Lilly and Company (NYSE:LLY)

Morse Asset Management Inc reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 10,738 shares of the company’s stock after selling 281 shares during the quarter. Eli Lilly and Company makes up 1.9% of Morse Asset Management Inc’s holdings, making the stock its 14th largest holding. Morse Asset Management Inc’s holdings in Eli Lilly and Company were worth $8,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. FPC Investment Advisory Inc. grew its holdings in shares of Eli Lilly and Company by 358.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after purchasing an additional 43 shares during the last quarter. Prudent Man Investment Management Inc. bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $48,000. Compass Financial Services Inc bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $50,000. Fiduciary Advisors Inc. bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $58,000. Finally, Bellwether Advisors LLC bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $66,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY opened at $755.28 on Tuesday. The firm’s 50 day simple moving average is $807.49 and its 200 day simple moving average is $809.36. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The company has a market capitalization of $715.80 billion, a price-to-earnings ratio of 64.50, a P/E/G ratio of 1.40 and a beta of 0.48. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The firm had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same period in the previous year, the business earned $2.58 EPS. The firm’s revenue was up 45.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Friday, May 16th. Eli Lilly and Company’s payout ratio is 48.82%.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the transaction, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. The trade was a 14.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LLY. Hsbc Global Res lowered shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. Guggenheim reaffirmed a “buy” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Morgan Stanley reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Truist Financial increased their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, The Goldman Sachs Group raised shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,002.80.

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.