Summit Global Investments Sells 1,849 Shares of Eli Lilly and Company (NYSE:LLY)

Summit Global Investments trimmed its position in Eli Lilly and Company (NYSE:LLY) by 19.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,848 shares of the company’s stock after selling 1,849 shares during the period. Summit Global Investments’ holdings in Eli Lilly and Company were worth $6,482,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LLY. FWG Holdings LLC raised its stake in Eli Lilly and Company by 0.6% during the fourth quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock valued at $1,640,000 after buying an additional 12 shares during the last quarter. Morling Financial Advisors LLC raised 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 worth $205,000 after purchasing an additional 12 shares during the last quarter. Prestige Wealth Management Group LLC boosted its stake in Eli Lilly and Company by 2.0% in the 4th quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company’s stock worth $468,000 after purchasing an additional 12 shares in the last quarter. Applied Finance Capital Management LLC grew its position in Eli Lilly and Company by 1.4% during the 4th 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 during the last quarter. Finally, Garner Asset Management Corp increased its stake in 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 purchasing an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. HSBC downgraded shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and dropped their target price for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Truist Financial increased their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Morgan Stanley reissued an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and lowered their price target for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,011.37.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the 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 sale, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at $4,778,521.60. This trade represents a 14.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY opened at $720.91 on Friday. 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. The firm 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. The firm has a 50 day moving average of $779.13 and a 200 day moving average of $800.51.

Eli Lilly and Company (NYSE:LLY) last posted 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). The company had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.77 billion. Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The company’s revenue for the quarter 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, research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced 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 yield of 0.83%. The ex-dividend date of this dividend is Friday, May 16th. Eli Lilly and Company’s dividend payout ratio is currently 48.82%.

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.