First Manhattan CO. LLC. Has $45.13 Million Position in Eli Lilly and Company (NYSE:LLY)

First Manhattan CO. LLC. trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,199 shares of the company's stock after selling 1,267 shares during the period. First Manhattan CO. LLC.'s holdings in Eli Lilly and Company were worth $45,130,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LLY. Fullcircle Wealth LLC bought a new stake in Eli Lilly and Company in the fourth quarter valued at approximately $895,000. Coastal Bridge Advisors LLC increased its position in shares of Eli Lilly and Company by 21.3% in the 4th quarter. Coastal Bridge Advisors LLC now owns 660 shares of the company's stock valued at $510,000 after buying an additional 116 shares in the last quarter. Duquesne Family Office LLC acquired a new stake in Eli Lilly and Company during the 4th quarter worth $48,011,000. EP Wealth Advisors LLC lifted its holdings in Eli Lilly and Company by 0.3% during the fourth quarter. EP Wealth Advisors LLC now owns 33,937 shares of the company's stock worth $26,200,000 after acquiring an additional 105 shares in the last quarter. Finally, Colonial Trust Co SC grew its stake in Eli Lilly and Company by 1.4% in the fourth quarter. Colonial Trust Co SC now owns 18,136 shares of the company's stock valued at $14,001,000 after acquiring an additional 254 shares during the period. 82.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on LLY shares. UBS Group decreased their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Hsbc Global Res lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a report on Friday, January 17th. Guggenheim reaffirmed a "buy" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, Morgan Stanley reissued 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, two have assigned a hold rating and nineteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,002.80.

Insider Buying and Selling at Eli Lilly and Company

In related 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 value of $818,240.00. Following the completion of the transaction, the chief accounting officer now owns 5,840 shares of the company's stock, valued at $4,778,521.60. This represents a 14.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.14% of the company's stock.

Eli Lilly and Company Stock Performance

LLY traded down $15.24 on Friday, reaching $736.21. The company had a trading volume of 4,068,043 shares, compared to its average volume of 3,517,566. The stock has a market cap of $697.73 billion, a P/E ratio of 62.87, a P/E/G ratio of 1.40 and a beta of 0.48. The company's fifty day moving average is $810.98 and its 200 day moving average is $810.88. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly 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). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The business had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same quarter last year, the company posted $2.58 earnings per share. The company's revenue was up 45.2% on a year-over-year basis. As a group, analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, May 16th. Eli Lilly and Company's payout ratio is presently 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.