Concentric Capital Strategies LP Cuts Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Concentric Capital Strategies LP lessened its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 74.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,058 shares of the company's stock after selling 15,052 shares during the quarter. Concentric Capital Strategies LP's holdings in Eli Lilly and Company were worth $3,905,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Highline Wealth Partners LLC increased its stake in shares of Eli Lilly and Company by 80.0% during the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company's stock valued at $35,000 after acquiring an additional 20 shares during the period. FPC Investment Advisory Inc. lifted its stake in Eli Lilly and Company by 358.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company's stock worth $45,000 after acquiring an additional 43 shares in the last quarter. Prudent Man Investment Management Inc. acquired a new position in Eli Lilly and Company in the 4th quarter valued at approximately $48,000. Compass Financial Services Inc acquired a new stake in shares of Eli Lilly and Company in the fourth quarter worth about $50,000. Finally, Fiduciary Advisors Inc. acquired a new position in Eli Lilly and Company in the 4th quarter valued at $58,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LLY shares. Guggenheim restated a "buy" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Hsbc Global Res downgraded Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. 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 target price on the stock. Finally, Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have issued a buy rating to the company's stock. According to data from MarketBeat, Eli Lilly and Company presently has a consensus rating of "Moderate Buy" and an average target price of $1,002.80.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the company's stock in a transaction 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 transaction, the chief accounting officer now owns 5,840 shares in the company, valued at approximately $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.14% of the company's stock.

Eli Lilly and Company Trading Down 5.5 %

Shares of LLY stock opened at $776.26 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.15 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 business has a 50-day moving average price of $820.91 and a two-hundred day moving average price of $814.03. The firm has a market cap of $735.69 billion, a P/E ratio of 66.29, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its earnings results 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 period in the prior year, the business posted $2.58 earnings per share. Equities analysts anticipate that Eli Lilly and Company will post 23.48 EPS 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 given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Friday, May 16th. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

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.

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