Eli Lilly and Company (NYSE:LLY) Stake Lessened by Sherman Asset Management Inc.

Sherman Asset Management Inc. decreased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 85.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 865 shares of the company’s stock after selling 5,150 shares during the period. Eli Lilly and Company comprises about 0.7% of Sherman Asset Management Inc.’s investment portfolio, making the stock its 27th biggest holding. Sherman Asset Management Inc.’s holdings in Eli Lilly and Company were worth $715,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mascagni Wealth Management Inc. acquired a new position in Eli Lilly and Company in the fourth quarter valued at approximately $43,000. FPC Investment Advisory Inc. grew its stake in Eli Lilly and Company by 358.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after buying an additional 43 shares during the last quarter. Prudent Man Investment Management Inc. acquired a new stake in Eli Lilly and Company in the fourth quarter worth $48,000. Compass Financial Services Inc bought a new stake in Eli Lilly and Company in the fourth quarter valued at $50,000. Finally, Capital A Wealth Management LLC bought a new position in shares of Eli Lilly and Company during the fourth quarter worth about $63,000. 82.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

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 shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Up 0.6%

Eli Lilly and Company stock opened at $770.00 on Monday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The firm has a market cap of $729.76 billion, a price-to-earnings ratio of 65.76, a price-to-earnings-growth ratio of 1.40 and a beta of 0.40. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53. The firm’s 50 day moving average price is $770.87 and its two-hundred day moving average price is $800.63.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data 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). The company had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The business’s revenue was up 45.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.58 earnings per share. On average, research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be paid a $1.50 dividend. The ex-dividend date is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a yield of 0.78%. Eli Lilly and Company’s dividend payout ratio is currently 48.82%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Guggenheim reissued a “buy” rating on shares of Eli Lilly and Company in a research note on Friday, May 23rd. HSBC downgraded Eli Lilly and Company from a “buy” rating to a “reduce” rating and reduced their price objective for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Wells Fargo & Company restated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Wall Street Zen raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.