Forum Financial Management LP Buys 265 Shares of Eli Lilly and Company (NYSE:LLY)

Forum Financial Management LP increased its position in Eli Lilly and Company (NYSE:LLY) by 3.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,615 shares of the company’s stock after buying an additional 265 shares during the quarter. Forum Financial Management LP’s holdings in Eli Lilly and Company were worth $6,651,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FWG Holdings LLC grew its stake in shares of Eli Lilly and Company by 0.6% in the fourth quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock worth $1,640,000 after acquiring an additional 12 shares during the last quarter. Morling Financial Advisors LLC boosted its position in shares of Eli Lilly and Company by 4.7% during the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock valued at $205,000 after buying an additional 12 shares during the last quarter. Prestige Wealth Management Group LLC boosted its position in Eli Lilly and Company by 2.0% in the fourth quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company’s stock worth $468,000 after purchasing an additional 12 shares during the last quarter. Applied Finance Capital Management LLC boosted its position 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 worth $660,000 after purchasing an additional 12 shares during the last quarter. Finally, Garner Asset Management Corp lifted its position in shares of Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after buying an additional 12 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Trading Down 0.2%

LLY opened at $713.99 on Friday. The stock has a market cap of $676.67 billion, a PE ratio of 60.97, a PEG ratio of 1.40 and a beta of 0.48. 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 moving average of $789.29 and a 200-day moving average of $803.00. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The business had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.77 billion. During the same quarter in the prior year, the firm earned $2.58 EPS. The firm’s revenue for the quarter was up 45.2% compared to the same quarter last year. Equities research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, May 16th. Eli Lilly and Company’s payout ratio is currently 48.82%.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction on Thursday, March 13th. The stock was 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 owns 5,840 shares of the company’s stock, valued at $4,778,521.60. The trade was a 14.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Hsbc Global Res lowered Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research note on Monday, April 28th. HSBC lowered Eli Lilly and Company from a “buy” rating to a “reduce” rating and decreased their target price for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 price objective on the stock. Wall Street Zen upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, UBS Group reduced their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,011.37.

Eli Lilly and 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.