Birmingham Capital Management Co. Inc. AL Has $8.80 Million Stock Position in Eli Lilly and Company (NYSE:LLY)

Birmingham Capital Management Co. Inc. AL reduced its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 11.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,400 shares of the company's stock after selling 1,475 shares during the period. Eli Lilly and Company makes up 3.3% of Birmingham Capital Management Co. Inc. AL's portfolio, making the stock its 5th largest holding. Birmingham Capital Management Co. Inc. AL's holdings in Eli Lilly and Company were worth $8,801,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in LLY. FPC Investment Advisory Inc. boosted its position 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 valued at $45,000 after buying an additional 43 shares during the period. Prudent Man Investment Management Inc. bought a new stake in shares of Eli Lilly and Company in the 4th quarter valued at about $48,000. Compass Financial Services Inc bought a new stake in shares of Eli Lilly and Company in the 4th quarter valued at about $50,000. Fiduciary Advisors Inc. bought a new stake in shares of Eli Lilly and Company in the 4th quarter valued at about $58,000. Finally, Capital A Wealth Management LLC bought a new stake in shares of Eli Lilly and Company in the 4th quarter valued at about $63,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LLY shares. Morgan Stanley reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. HSBC downgraded shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their price objective for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Guggenheim reiterated a "buy" rating on shares of Eli Lilly and Company in a research note on Friday, May 23rd. Finally, The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,011.37.

Insider Activity at Eli Lilly and Company

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 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 document filed with the SEC, which is available at this hyperlink. 0.13% of the stock is currently owned by insiders.

Eli Lilly and Company Stock Performance

NYSE:LLY traded up $1.52 during trading hours on Thursday, reaching $720.91. 2,781,296 shares of the company's stock were exchanged, compared to its average volume of 3,621,593. The firm has a market capitalization of $683.24 billion, a price-to-earnings ratio of 61.56, a P/E/G ratio of 1.40 and a beta of 0.48. 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 1-year low of $677.09 and a 1-year high of $972.53. The company has a 50-day moving average of $782.03 and a 200 day moving average of $801.29.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted 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 net margin of 23.51% and a return on equity of 85.24%. The business had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. During the same quarter last year, the business posted $2.58 earnings per share. The business's revenue was up 45.2% compared to the same quarter last year. Research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 annualized dividend and a dividend yield of 0.83%. Eli Lilly and Company's dividend 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.