Financial Management Professionals Inc. Reduces Holdings in Eli Lilly and Company (NYSE:LLY)

Financial Management Professionals Inc. lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 4.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 974 shares of the company’s stock after selling 49 shares during the quarter. Financial Management Professionals Inc.’s holdings in Eli Lilly and Company were worth $804,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Eli Lilly and Company by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company’s stock valued at $57,320,226,000 after purchasing an additional 475,530 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Eli Lilly and Company by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company’s stock valued at $13,389,651,000 after buying an additional 291,875 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Eli Lilly and Company by 103,831.6% during the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock valued at $12,278,292,000 after buying an additional 14,852,076 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Eli Lilly and Company by 19.0% in the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock valued at $9,747,214,000 after acquiring an additional 2,012,129 shares during the period. Finally, Norges Bank purchased a new position in Eli Lilly and Company in the 4th quarter worth $8,407,908,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $750.94 on Wednesday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The stock has a market capitalization of $711.69 billion, a PE ratio of 64.13, a P/E/G ratio of 1.40 and a beta of 0.48. 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 fifty day moving average of $773.82 and a two-hundred day moving average of $799.64.

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

Eli Lilly and Company Announces Dividend

The firm 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. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 annualized dividend and a yield of 0.80%. Eli Lilly and Company’s dividend payout ratio is presently 48.82%.

Insider Buying and Selling at Eli Lilly and Company

In related 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 stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on LLY shares. Wall Street Zen upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Cantor Fitzgerald assumed coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 target price for the company. UBS Group cut their price target on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Morgan Stanley reissued an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, HSBC cut shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and decreased their price objective for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,011.37.

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.