Bridgeway Capital Management LLC Cuts Position in Eli Lilly and Company (NYSE:LLY)

Bridgeway Capital Management LLC reduced its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 7.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 30,604 shares of the company’s stock after selling 2,483 shares during the quarter. Eli Lilly and Company makes up approximately 0.5% of Bridgeway Capital Management LLC’s investment portfolio, making the stock its 16th largest position. Bridgeway Capital Management LLC’s holdings in Eli Lilly and Company were worth $23,626,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of LLY. Norges Bank bought a new stake in shares of Eli Lilly and Company during the 4th quarter worth $8,407,908,000. Proficio Capital Partners LLC raised its position in Eli Lilly and Company by 100,387.1% in the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company’s stock worth $4,016,110,000 after acquiring an additional 5,197,038 shares during the period. Wellington Management Group LLP boosted its stake in Eli Lilly and Company by 19.0% in the fourth 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 last quarter. Capital International Investors grew its position in shares of Eli Lilly and Company by 23.2% during the 4th quarter. Capital International Investors now owns 8,730,758 shares of the company’s stock valued at $6,740,272,000 after acquiring an additional 1,645,222 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $1,240,653,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on LLY. Guggenheim reiterated a “buy” rating on shares of Eli Lilly and Company in a research note on Thursday. The Goldman Sachs Group upgraded Eli Lilly and Company from a “neutral” rating to a “buy” rating and cut their price target for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. StockNews.com upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Friday, February 7th. Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday. Finally, Morgan Stanley reissued an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,002.80.

Eli Lilly and Company Trading Down 0.2 %

Shares of LLY stock opened at $821.66 on Tuesday. The company has a market capitalization of $779.07 billion, a PE ratio of 70.17, a price-to-earnings-growth ratio of 1.40 and a beta of 0.51. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The business’s fifty day moving average is $823.48 and its 200 day moving average is $814.29. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). The business had revenue of $12.73 billion for the quarter, compared to the consensus estimate 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 revenue was up 45.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.58 EPS. On average, equities research analysts anticipate 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 declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.73%. Eli Lilly and Company’s payout ratio is 51.24%.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction dated 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 directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.13% of the company’s stock.

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.