Centre Asset Management LLC Has $5.27 Million Holdings in Eli Lilly and Company (NYSE:LLY)

Centre Asset Management LLC cut its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,383 shares of the company's stock after selling 493 shares during the period. Centre Asset Management LLC's holdings in Eli Lilly and Company were worth $5,272,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Mascagni Wealth Management Inc. purchased a new position in Eli Lilly and Company during the fourth quarter valued at $43,000. FPC Investment Advisory Inc. grew its holdings in Eli Lilly and Company by 358.3% during 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 in the last quarter. Prudent Man Investment Management Inc. purchased a new position in shares of Eli Lilly and Company in the 4th quarter worth approximately $48,000. Compass Financial Services Inc purchased a new stake in Eli Lilly and Company in the 4th quarter worth about $50,000. Finally, Fiduciary Advisors Inc. purchased a new stake in shares of Eli Lilly and Company during the fourth quarter valued at $58,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock traded up $15.76 during midday trading on Friday, hitting $738.33. 6,102,436 shares of the company's stock were exchanged, compared to its average volume of 3,643,078. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The stock has a market cap of $699.74 billion, a price-to-earnings ratio of 63.05, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48. The firm's 50 day simple moving average is $779.13 and its 200 day simple moving average is $800.51. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53.

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 analysts' consensus estimates of $4.64 by ($1.30). The company had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The company's revenue was up 45.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.58 EPS. Equities research analysts predict that Eli Lilly and Company will post 23.48 EPS 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. Investors of record on Friday, May 16th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend is Friday, May 16th. Eli Lilly and Company's dividend payout ratio is currently 48.82%.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of research analyst reports. The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their target price for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. UBS Group decreased their price target 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 research report on Friday, May 2nd. Wall Street Zen raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Friday, February 7th. Finally, Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,011.37.

Insider Buying and Selling

In other Eli Lilly and Company 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 completion of the transaction, the chief accounting officer now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

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.