Congress Asset Management Co. Sells 2,355 Shares of Eli Lilly and Company (NYSE:LLY)

Congress Asset Management Co. reduced its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 198,284 shares of the company's stock after selling 2,355 shares during the period. Eli Lilly and Company comprises about 1.2% of Congress Asset Management Co.'s holdings, making the stock its 13th largest holding. Congress Asset Management Co.'s holdings in Eli Lilly and Company were worth $163,765,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LLY. Elevate Capital Advisors LLC purchased a new stake in Eli Lilly and Company in the 4th quarter worth about $262,000. Capital & Planning LLC lifted its stake in Eli Lilly and Company by 15.6% in the 4th quarter. Capital & Planning LLC now owns 481 shares of the company's stock worth $371,000 after acquiring an additional 65 shares in the last quarter. Garner Asset Management Corp lifted its stake in Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after acquiring an additional 12 shares in the last quarter. Brighton Jones LLC lifted 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 in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in Eli Lilly and Company in the 4th quarter worth about $49,534,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY stock traded up $4.32 during trading on Friday, reaching $770.00. The company had a trading volume of 2,068,266 shares, compared to its average volume of 3,650,297. The firm's 50 day simple moving average is $770.87 and its two-hundred day simple moving average is $799.95. 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 one year low of $677.09 and a one year high of $972.53. The company has a market capitalization of $729.76 billion, a PE ratio of 65.76, a PEG ratio of 1.40 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts' consensus estimates 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 net margin of 23.51% and a return on equity of 85.24%. The firm's revenue was up 45.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.58 earnings per share. Sell-side analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be given a $1.50 dividend. 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 dividend payout ratio is currently 48.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on LLY shares. UBS Group reduced 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 note on Friday, May 2nd. Guggenheim reaffirmed a "buy" rating on shares of Eli Lilly and Company in a research note on Friday, May 23rd. Wall Street Zen raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Saturday. Hsbc Global Res downgraded Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. Finally, The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their price target for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average price target of $1,011.37.

Insiders Place Their Bets

In other Eli Lilly and Company 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 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 directly owns 5,840 shares of the company's stock, valued at $4,778,521.60. The trade was a 14.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.13% of the company's stock.

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.