Red Spruce Capital LLC Sells 28 Shares of Eli Lilly and Company (NYSE:LLY)

Red Spruce Capital LLC trimmed its holdings in Eli Lilly and Company (NYSE:LLY) by 1.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 2,226 shares of the company’s stock after selling 28 shares during the quarter. Red Spruce Capital LLC’s holdings in Eli Lilly and Company were worth $1,838,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of LLY. Vanguard Group Inc. lifted its position in Eli Lilly and Company by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company’s stock valued at $57,320,226,000 after purchasing an additional 475,530 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Eli Lilly and Company by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company’s stock valued at $13,389,651,000 after buying an additional 291,875 shares during the period. GAMMA Investing LLC lifted its holdings in Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock valued at $12,278,292,000 after acquiring an additional 14,852,076 shares during the period. Wellington Management Group LLP grew its stake in shares of Eli Lilly and Company by 19.0% during the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock valued at $9,747,214,000 after purchasing an additional 2,012,129 shares during the period. Finally, Norges Bank purchased a new stake in shares of Eli Lilly and Company during the 4th quarter valued at about $8,407,908,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 0.2%

Shares of LLY opened at $720.91 on Friday. The business’s 50 day simple moving average is $779.13 and its 200-day simple moving average is $800.51. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The stock has a market capitalization of $683.24 billion, a price-to-earnings ratio of 61.56, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, May 1st. The company reported $3.34 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 business had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same quarter last year, the business earned $2.58 EPS. Eli Lilly and Company’s revenue for the quarter was up 45.2% compared to the same quarter last year. As a group, equities analysts expect 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. Shareholders of record on Friday, May 16th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a yield of 0.83%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 48.82%.

Insider Buying and Selling 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 transaction, the chief accounting officer now 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 document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Truist Financial increased their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Wall Street Zen raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Cantor Fitzgerald assumed coverage on 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. HSBC cut Eli Lilly and Company from a “buy” rating to a “reduce” rating and reduced their price target for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Finally, UBS Group lowered 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 issued a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and an average 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.