Family Management Corp Reduces Position in Eli Lilly and Company (NYSE:LLY)

Family Management Corp trimmed its holdings in Eli Lilly and Company (NYSE:LLY) by 11.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 502 shares of the company’s stock after selling 64 shares during the period. Family Management Corp’s holdings in Eli Lilly and Company were worth $388,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of LLY. Vanguard Group Inc. lifted its stake in Eli Lilly and Company by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company’s stock worth $57,320,226,000 after purchasing an additional 475,530 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Eli Lilly and Company by 1.7% in 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 purchasing an additional 291,875 shares during the last quarter. Wellington Management Group LLP lifted its position in Eli Lilly and Company by 19.0% during the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock worth $9,747,214,000 after buying an additional 2,012,129 shares in the last quarter. Norges Bank acquired a new position in Eli Lilly and Company during the fourth quarter worth $8,407,908,000. Finally, Capital Research Global Investors grew its holdings in Eli Lilly and Company by 16.1% in the 4th quarter. Capital Research Global Investors now owns 10,757,511 shares of the company’s stock valued at $8,304,811,000 after buying an additional 1,493,673 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

Shares of LLY 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. 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 market cap of $736.33 billion, a P/E ratio of 66.35, a PEG ratio of 1.40 and a beta of 0.48. The firm’s 50 day moving average price is $818.04 and its 200 day moving average price is $813.77.

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). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The company had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same quarter in the previous year, the business posted $2.58 earnings per share. The firm’s revenue was up 45.2% on a year-over-year basis. On average, 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 business 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. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Friday, May 16th. Eli Lilly and Company’s dividend payout ratio is presently 48.82%.

Wall Street Analysts Forecast Growth

LLY has been the topic of several recent research reports. StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. HSBC lowered 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 report on Monday, April 28th. Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 price target for the company. Citigroup decreased their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and cut their target price for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,002.80.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the transaction, the chief accounting officer now 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 legal filing with the SEC, which is available at this link. Insiders own 0.14% 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.