Eli Lilly and Company (NYSE:LLY) Position Cut by Freedom Together Foundation

Freedom Together Foundation decreased its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 79.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,868 shares of the company's stock after selling 35,000 shares during the period. Eli Lilly and Company comprises about 0.8% of Freedom Together Foundation's investment portfolio, making the stock its 4th biggest holding. Freedom Together Foundation's holdings in Eli Lilly and Company were worth $6,846,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Knightsbridge Asset Management LLC raised its position in Eli Lilly and Company by 1.9% during the fourth quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock valued at $628,000 after purchasing an additional 15 shares during the period. Centerpoint Advisory Group bought a new position in shares of Eli Lilly and Company during the fourth quarter valued at approximately $514,000. Kentucky Trust Co bought a new position in Eli Lilly and Company in the fourth quarter worth approximately $834,000. CSM Advisors LLC lifted its holdings in Eli Lilly and Company by 30.6% during the fourth quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock worth $807,000 after buying an additional 245 shares during the period. Finally, Proficio Capital Partners LLC lifted its holdings in shares of Eli Lilly and Company by 30.2% during the 4th quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company's stock valued at $5,202,000 after purchasing an additional 1,562 shares during the last quarter. Institutional investors own 82.53% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on LLY shares. Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a report on Thursday, January 16th. Morgan Stanley restated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Leerink Partners set a $950.00 price objective on Eli Lilly and Company in a research report on Friday, January 17th. 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. Finally, Citigroup dropped their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. One investment 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 MarketBeat, Eli Lilly and Company presently has an average rating of "Moderate Buy" and a consensus price target of $1,002.80.

Eli Lilly and Company Price Performance

LLY traded down $29.33 during trading on Wednesday, reaching $716.73. The company's stock had a trading volume of 3,856,706 shares, compared to its average volume of 3,552,916. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The firm has a fifty day simple moving average of $804.15 and a two-hundred day simple moving average of $808.91. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53. The company has a market cap of $679.27 billion, a price-to-earnings ratio of 61.21, a PEG ratio of 1.40 and a beta of 0.48.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The business had revenue of $12.73 billion during the quarter, compared to analysts' expectations of $12.77 billion. During the same period last year, the business earned $2.58 earnings per share. The company's revenue for the quarter was up 45.2% compared to the same quarter last year. As a group, analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Friday, May 16th. Eli Lilly and Company's payout ratio is presently 48.82%.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company 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 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.13% of the company's stock.

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.