Eli Lilly and Company (NYSE:LLY) Position Trimmed by Oak Grove Capital LLC

Key Points

• Oak Grove Capital LLC has reduced its stake in Eli Lilly and Company (NYSE:LLY) by 24.4%, now owning 72,704 shares, which comprises about 12.5% of its portfolio.
• In recent insider transactions, Director Jamere Jackson bought 200 shares of Eli Lilly stock, increasing his holdings by 2.17%, while another Director, J Erik Fyrwald, purchased 1,565 shares, marking a 2.14% increase in his position.
• Eli Lilly reported a net margin of 25.91% and a year-over-year revenue increase of 37.6% for the recently concluded quarter, outperforming analysts' expectations.

Oak Grove Capital LLC cut its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 24.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,704 shares of the company's stock after selling 23,423 shares during the quarter. Eli Lilly and Company makes up approximately 12.5% of Oak Grove Capital LLC's portfolio, making the stock its 2nd largest holding. Oak Grove Capital LLC's holdings in Eli Lilly and Company were worth $60,047,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Knightsbridge Asset Management LLC increased its holdings in shares of Eli Lilly and Company by 1.9% during the 4th quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock worth $628,000 after buying an additional 15 shares during the last quarter. LS Investment Advisors LLC increased its holdings in shares of Eli Lilly and Company by 1.7% during the 1st quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock worth $1,933,000 after buying an additional 40 shares during the last quarter. Prism Advisors Inc. acquired a new stake in shares of Eli Lilly and Company during the 1st quarter worth approximately $207,000. CSM Advisors LLC increased its holdings in shares of Eli Lilly and Company by 30.6% during the 4th quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock worth $807,000 after buying an additional 245 shares during the last quarter. Finally, Hemington Wealth Management increased its holdings in shares of Eli Lilly and Company by 14.4% during the 1st quarter. Hemington Wealth Management now owns 985 shares of the company's stock worth $813,000 after buying an additional 124 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, Director Jamere Jackson acquired 200 shares of the company's stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $639.56 per share, for a total transaction of $127,912.00. Following the completion of the purchase, the director owned 9,402 shares in the company, valued at $6,013,143.12. This trade represents a 2.17% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director J Erik Fyrwald acquired 1,565 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was acquired at an average price of $642.33 per share, for a total transaction of $1,005,246.45. Following the completion of the purchase, the director owned 74,578 shares of the company's stock, valued at $47,903,686.74. This trade represents a 2.14% increase in their position. The disclosure for this purchase can be found here. Insiders bought 4,514 shares of company stock valued at $2,894,841 over the last quarter. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $685.27 on Friday. The stock has a market cap of $648.58 billion, a P/E ratio of 44.79, a price-to-earnings-growth ratio of 0.93 and a beta of 0.44. The company has a fifty day simple moving average of $765.92 and a 200-day simple moving average of $795.40. Eli Lilly and Company has a 12-month low of $623.78 and a 12-month high of $972.53. The company has a current ratio of 1.28, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.59 by $0.72. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The business had revenue of $15.56 billion during the quarter, compared to analysts' expectations of $14.40 billion. During the same period in the previous year, the company earned $3.92 EPS. The company's revenue for the quarter was up 37.6% on a year-over-year basis. Equities analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a yield of 0.9%. Eli Lilly and Company's payout ratio is 39.22%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on LLY shares. Morgan Stanley restated an "overweight" rating and set a $1,135.00 price target (up previously from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. Leerink Partnrs downgraded shares of Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Eli Lilly and Company from $1,010.00 to $900.00 and set a "buy" rating for the company in a report on Monday. HSBC downgraded shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their target price for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. Finally, 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. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $964.88.

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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