Bourgeon Capital Management LLC Cuts Stake in Eli Lilly and Company (NYSE:LLY)

Bourgeon Capital Management LLC decreased its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 34.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 912 shares of the company's stock after selling 487 shares during the quarter. Bourgeon Capital Management LLC's holdings in Eli Lilly and Company were worth $753,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mascagni Wealth Management Inc. bought a new position in shares of Eli Lilly and Company in the fourth quarter worth about $43,000. FPC Investment Advisory Inc. boosted its position in Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company's stock valued at $45,000 after acquiring an additional 43 shares during the last quarter. Prudent Man Investment Management Inc. acquired a new position in Eli Lilly and Company in the fourth quarter valued at approximately $48,000. Compass Financial Services Inc bought a new position in Eli Lilly and Company during the fourth quarter worth $50,000. Finally, Capital A Wealth Management LLC bought a new stake in Eli Lilly and Company during the 4th quarter valued at $63,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 completion of the transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Trading Up 2.1%

Shares of Eli Lilly and Company stock traded up $16.00 during midday trading on Wednesday, reaching $766.78. 3,131,770 shares of the company's stock traded hands, compared to its average volume of 3,637,017. The company has a market cap of $726.71 billion, a PE ratio of 65.48, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48. The stock has a 50 day moving average of $773.82 and a 200-day moving average of $799.64. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its earnings results 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). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The company had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same period in the previous year, the firm posted $2.58 EPS. The company's revenue for the quarter was up 45.2% on a year-over-year basis. As a group, equities analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, May 16th. This represents a $6.00 annualized dividend and a yield of 0.78%. Eli Lilly and Company's payout ratio is 48.82%.

Analyst Ratings Changes

A number of research firms have recently weighed in on LLY. Cantor Fitzgerald began coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 target price on the stock. Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Guggenheim restated a "buy" rating on shares of Eli Lilly and Company in a research note on Friday, May 23rd. HSBC downgraded 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 report on Monday, April 28th. Finally, Wall Street Zen upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,011.37.

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.