Castleark Management LLC Decreases Holdings in Eli Lilly and Company (NYSE:LLY)

Castleark Management LLC trimmed its position in shares of Eli Lilly and Company (NYSE:LLY) by 34.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 42,766 shares of the company’s stock after selling 22,560 shares during the quarter. Eli Lilly and Company accounts for 1.2% of Castleark Management LLC’s investment portfolio, making the stock its 20th largest holding. Castleark Management LLC’s holdings in Eli Lilly and Company were worth $33,015,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LLY. FPC Investment Advisory Inc. boosted its stake in shares of Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after purchasing an additional 43 shares during the period. Prudent Man Investment Management Inc. bought a new position in Eli Lilly and Company during the 4th quarter worth about $48,000. Compass Financial Services Inc bought a new position in Eli Lilly and Company in the fourth quarter worth approximately $50,000. Fiduciary Advisors Inc. purchased a new stake in Eli Lilly and Company during the fourth quarter worth $58,000. Finally, Bellwether Advisors LLC bought a new stake in Eli Lilly and Company during the fourth quarter valued at about $66,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $745.72 on Wednesday. The firm has a market cap of $706.75 billion, a PE ratio of 63.68, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48. The company’s 50 day simple moving average is $795.44 and its 200-day simple moving average is $804.82. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). The firm had revenue of $12.73 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the business earned $2.58 earnings per share. As a group, equities analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Friday, May 16th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 48.82%.

Insider Activity

In other Eli Lilly and Company 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 shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the sale, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at approximately $4,778,521.60. The trade was a 14.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LLY. Cantor Fitzgerald started coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 price objective for the company. Guggenheim reaffirmed a “buy” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. UBS Group dropped their price objective 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. Wells Fargo & Company reissued an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and decreased their price target for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.