Gibraltar Capital Management Inc. Sells 244 Shares of Eli Lilly and Company (NYSE:LLY)

Gibraltar Capital Management Inc. lowered its stake in Eli Lilly and Company (NYSE:LLY) by 39.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 382 shares of the company’s stock after selling 244 shares during the quarter. Gibraltar Capital Management Inc.’s holdings in Eli Lilly and Company were worth $316,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in LLY. Vanguard Group Inc. boosted its holdings 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 worth $57,320,226,000 after buying an additional 475,530 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Eli Lilly and Company by 1.7% in 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 acquiring an additional 291,875 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Eli Lilly and Company by 103,831.6% in the 1st 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 boosted its stake in 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 worth $9,747,214,000 after acquiring an additional 2,012,129 shares during the last quarter. Finally, Norges Bank bought a new position in Eli Lilly and Company during the 4th quarter worth approximately $8,407,908,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $772.82 on Tuesday. The company’s fifty day simple moving average is $771.52 and its 200-day simple moving average is $800.30. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18. The firm has a market cap of $732.43 billion, a PE ratio of 62.88, a P/E/G ratio of 1.14 and a beta of 0.40. 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 issued its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The business had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same quarter in the previous year, the firm posted $2.58 earnings per share. The firm’s quarterly revenue was up 45.2% on a year-over-year basis. Equities research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.78%. Eli Lilly and Company’s payout ratio is presently 48.82%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Guggenheim reaffirmed a “buy” rating and issued a $936.00 target price on shares of Eli Lilly and Company in a research note on Friday, June 20th. Morgan Stanley reissued an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. The Goldman Sachs Group upgraded Eli Lilly and Company from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Finally, UBS Group lowered their price target on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating for the company in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus target price of $1,011.61.

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.