Eli Lilly and Company (NYSE:LLY) Stake Reduced by JT Stratford LLC

JT Stratford LLC reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 3.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,736 shares of the company’s stock after selling 124 shares during the period. JT Stratford LLC’s holdings in Eli Lilly and Company were worth $2,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Garner Asset Management Corp boosted its stake in Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after buying an additional 12 shares in the last quarter. FWG Holdings LLC boosted its stake in Eli Lilly and Company by 0.6% during the fourth quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock valued at $1,640,000 after buying an additional 12 shares in the last quarter. Morling Financial Advisors LLC boosted its stake in Eli Lilly and Company by 4.7% during the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock valued at $205,000 after buying an additional 12 shares in the last quarter. Prestige Wealth Management Group LLC lifted its holdings in shares of Eli Lilly and Company by 2.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company’s stock valued at $468,000 after purchasing an additional 12 shares during the last quarter. Finally, Applied Finance Capital Management LLC boosted its position in shares of Eli Lilly and Company by 1.4% in the 4th quarter. Applied Finance Capital Management LLC now owns 855 shares of the company’s stock valued at $660,000 after purchasing an additional 12 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Down 3.0%

LLY opened at $724.28 on Thursday. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The business has a 50-day moving average of $793.65 and a 200-day moving average of $804.27. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The company has a market capitalization of $686.43 billion, a PE ratio of 61.85, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $12.77 billion. During the same period last year, the business earned $2.58 earnings per share. The firm’s revenue for the quarter was up 45.2% on a year-over-year basis. Equities research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business 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 $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Friday, May 16th. Eli Lilly and Company’s payout ratio is 48.82%.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the transaction, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. This trade represents a 14.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on LLY shares. Cantor Fitzgerald started coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price target for the company. Citigroup decreased their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Truist Financial increased their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Hsbc Global Res lowered Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research report on Monday, April 28th. Finally, The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,011.37.

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.