Clark Capital Management Group Inc. Cuts Holdings in Eli Lilly and Company (NYSE:LLY)

Clark Capital Management Group Inc. cut its stake in Eli Lilly and Company (NYSE:LLY) by 11.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 111,241 shares of the company’s stock after selling 14,168 shares during the quarter. Clark Capital Management Group Inc.’s holdings in Eli Lilly and Company were worth $85,878,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of LLY. Garner Asset Management Corp boosted its stake in Eli Lilly and Company by 2.3% in the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after acquiring an additional 12 shares during the period. FWG Holdings LLC boosted its stake in shares of Eli Lilly and Company by 0.6% during the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock worth $1,640,000 after acquiring an additional 12 shares in the last quarter. Morling Financial Advisors LLC lifted its position in shares of Eli Lilly and Company by 4.7% in the 4th quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock valued at $205,000 after acquiring an additional 12 shares in the last quarter. Prestige Wealth Management Group LLC grew its stake in Eli Lilly and Company by 2.0% during the 4th quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company’s stock valued at $468,000 after acquiring an additional 12 shares in the last quarter. Finally, Applied Finance Capital Management LLC grew its stake in Eli Lilly and Company by 1.4% in the fourth 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 in the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $776.94 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The business has a 50-day simple moving average of $818.04 and a 200-day simple moving average of $813.77. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The stock has a market cap of $736.33 billion, a PE ratio of 66.35, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48.

Eli Lilly and Company (NYSE:LLY) last issued 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 business 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%. Eli Lilly and Company’s quarterly revenue was up 45.2% on a year-over-year basis. During the same quarter last year, the company earned $2.58 earnings per share. On average, equities analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently declared 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. The ex-dividend date is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a yield of 0.77%. Eli Lilly and Company’s dividend payout ratio is currently 48.82%.

Analyst Upgrades and Downgrades

Several research analysts have commented 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 on the stock. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and cut their target price for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. UBS Group decreased their price target on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Guggenheim reissued a “buy” 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 target price for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,002.80.

Insider Transactions at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the business’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 transaction of $818,240.00. Following the sale, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at $4,778,521.60. The trade was a 14.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.14% of the company’s stock.

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.