IAM Advisory LLC Lowers Position in Eli Lilly and Company (NYSE:LLY)

IAM Advisory LLC cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 4.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,111 shares of the company’s stock after selling 264 shares during the quarter. Eli Lilly and Company comprises approximately 1.1% of IAM Advisory LLC’s investment portfolio, making the stock its 16th biggest position. IAM Advisory LLC’s holdings in Eli Lilly and Company were worth $4,221,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. FPC Investment Advisory Inc. boosted its holdings in Eli Lilly and Company by 358.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after acquiring an additional 43 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth about $43,000. Prudent Man Investment Management Inc. purchased a new position in shares of Eli Lilly and Company in the fourth quarter valued at approximately $48,000. Compass Financial Services Inc purchased a new position in shares of Eli Lilly and Company in the fourth quarter valued at approximately $50,000. Finally, Capital A Wealth Management LLC purchased a new position in shares of Eli Lilly and Company in the fourth quarter valued at approximately $63,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Wells Fargo & Company reissued an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Erste Group Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday. HSBC lowered shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and lowered their price objective for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. Hsbc Global Res lowered shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research note on Monday, April 28th. Finally, Wall Street Zen raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,011.37.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $770.00 on Friday. The firm’s fifty day simple moving average is $770.87 and its 200-day simple moving average is $799.95. The stock has a market capitalization of $729.76 billion, a price-to-earnings ratio of 65.76, a PEG ratio of 1.40 and a beta of 0.40. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. 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 announced its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.64 by ($1.30). The firm had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The business’s quarterly revenue was up 45.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.58 earnings per share. As a group, equities analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 annualized dividend and a yield of 0.78%. Eli Lilly and Company’s dividend payout ratio is currently 48.82%.

Insider Buying and Selling at Eli Lilly and Company

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

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.