Eli Lilly and Company (NYSE:LLY) Shares Sold by Arthur M. Cohen & Associates LLC

Arthur M. Cohen & Associates LLC decreased its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 2.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,601 shares of the company's stock after selling 581 shares during the quarter. Eli Lilly and Company comprises about 3.7% of Arthur M. Cohen & Associates LLC's portfolio, making the stock its 10th biggest position. Arthur M. Cohen & Associates LLC's holdings in Eli Lilly and Company were worth $19,492,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LLY. Elevate Capital Advisors LLC purchased a new position in shares of Eli Lilly and Company in the fourth quarter worth $262,000. Capital & Planning LLC grew its holdings in shares of Eli Lilly and Company by 15.6% during the fourth quarter. Capital & Planning LLC now owns 481 shares of the company's stock valued at $371,000 after buying an additional 65 shares during the last quarter. Garner Asset Management Corp increased its position in shares of Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company's stock valued at $411,000 after acquiring an additional 12 shares during the period. Brighton Jones LLC raised its stake in Eli Lilly and Company by 22.0% in the 4th quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock worth $7,409,000 after acquiring an additional 1,730 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in Eli Lilly and Company during the 4th quarter worth about $49,534,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the transaction, the chief accounting officer now owns 5,840 shares in the company, valued at $4,778,521.60. This trade represents a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.13% of the company's stock.

Eli Lilly and Company Price Performance

LLY stock traded up $4.32 during mid-day trading on Friday, reaching $770.00. 2,068,266 shares of the company's stock were exchanged, compared to its average volume of 3,644,143. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53. The stock's 50 day moving average is $771.54 and its 200 day moving average is $799.67. The company 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 (NYSE:LLY - Get Free Report) last announced its earnings results 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). 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 for the quarter, compared to analyst estimates of $12.77 billion. During the same period in the previous year, the company earned $2.58 earnings per share. The company's quarterly revenue was up 45.2% compared to the same quarter last year. On average, research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.78%. The ex-dividend date is Friday, May 16th. Eli Lilly and Company's payout ratio is 48.82%.

Analyst Ratings Changes

LLY has been the topic of a number of research reports. Guggenheim reissued a "buy" rating on shares of Eli Lilly and Company in a report on Friday, May 23rd. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their target price for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price target for the company. Hsbc Global Res downgraded shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. Finally, Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $1,011.37.

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.