Castleark Management LLC Decreases Position in Eli Lilly and Company (NYSE:LLY)

Castleark Management LLC lessened its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 34.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,766 shares of the company's stock after selling 22,560 shares during the period. Eli Lilly and Company accounts for 1.2% of Castleark Management LLC's investment portfolio, making the stock its 20th largest position. Castleark Management LLC's holdings in Eli Lilly and Company were worth $33,015,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in LLY. 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 purchasing an additional 43 shares in the last quarter. Prudent Man Investment Management Inc. bought a new position in shares of Eli Lilly and Company in the fourth quarter worth approximately $48,000. Compass Financial Services Inc purchased a new position in Eli Lilly and Company during the 4th quarter valued at about $50,000. Fiduciary Advisors Inc. purchased a new stake in Eli Lilly and Company in the 4th quarter worth approximately $58,000. Finally, Bellwether Advisors LLC bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $66,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LLY has been the subject of several research analyst reports. UBS Group lowered their price objective on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Guggenheim reissued a "buy" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. StockNews.com raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. Hsbc Global Res cut shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. Finally, Cantor Fitzgerald started coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $1,011.37.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. The trade was a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Stock Down 1.2%

Shares of LLY stock opened at $745.72 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.97 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 stock has a market cap of $706.75 billion, a P/E ratio of 63.68, a P/E/G ratio of 1.40 and a beta of 0.48. The company has a 50 day simple moving average of $795.44 and a two-hundred day simple moving average of $804.82.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $12.77 billion. Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The firm's quarterly revenue was up 45.2% compared to the same quarter last year. During the same period last year, the business earned $2.58 EPS. On average, research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, May 16th. This represents a $6.00 annualized dividend and a dividend yield of 0.80%. Eli Lilly and Company's payout ratio is 48.82%.

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.

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