Bridge Creek Capital Management LLC Reduces Stake in Eli Lilly and Company (NYSE:LLY)

Bridge Creek Capital Management LLC reduced its position in Eli Lilly and Company (NYSE:LLY) by 1.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,961 shares of the company’s stock after selling 38 shares during the period. Bridge Creek Capital Management LLC’s holdings in Eli Lilly and Company were worth $1,620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. FPC Investment Advisory Inc. boosted its stake 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 buying an additional 43 shares during the last quarter. Mascagni Wealth Management Inc. bought a new position in Eli Lilly and Company in the 4th quarter worth $43,000. Prudent Man Investment Management Inc. bought a new position in Eli Lilly and Company in the 4th quarter worth $48,000. Compass Financial Services Inc bought a new position in Eli Lilly and Company in the 4th quarter worth $50,000. Finally, Capital A Wealth Management LLC bought a new position in Eli Lilly and Company in the 4th quarter worth $63,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Hsbc Global Res cut Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. HSBC cut Eli Lilly and Company from a “buy” rating to a “reduce” rating and decreased their target price for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. Cantor Fitzgerald assumed coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 target price on the stock. The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Finally, Guggenheim reissued a “buy” rating on shares of Eli Lilly and Company in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,011.37.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the transaction, the chief accounting officer now owns 5,840 shares in the company, valued at approximately $4,778,521.60. This trade represents a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Up 1.2%

Shares of Eli Lilly and Company stock opened at $746.63 on Tuesday. The firm has a market cap of $707.60 billion, a price-to-earnings ratio of 63.76, a PEG ratio of 1.40 and a beta of 0.48. The business has a 50-day moving average price of $775.24 and a 200-day moving average price of $799.98. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data 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). The firm had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.77 billion. Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The company’s revenue for the quarter was up 45.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.58 EPS. Equities research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.80%. Eli Lilly and Company’s payout ratio is 48.82%.

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.