Eli Lilly and Company (NYSE:LLY) Shares Sold by Foster Dykema Cabot & Partners LLC

Key Points

• Foster Dykema Cabot & Partners LLC has reduced its holdings in Eli Lilly and Company by 7.6%, now owning 31,023 shares valued at approximately $25.6 million.
• Wall Street analysts have varied opinions on Eli Lilly, with the average rating being "Moderate Buy" and a consensus target price of $999.50.
• Eli Lilly reported earnings of $6.31 per share for the latest quarter, exceeding expectations, and announced a quarterly dividend of $1.50.

Foster Dykema Cabot & Partners LLC reduced its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 7.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,023 shares of the company's stock after selling 2,537 shares during the period. Eli Lilly and Company comprises about 2.1% of Foster Dykema Cabot & Partners LLC's portfolio, making the stock its 17th biggest holding. Foster Dykema Cabot & Partners LLC's holdings in Eli Lilly and Company were worth $25,622,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Applied Finance Capital Management LLC grew its stake in Eli Lilly and Company by 1.4% in the 4th quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock valued at $660,000 after acquiring an additional 12 shares during the period. Garner Asset Management Corp lifted its holdings in Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock valued at $411,000 after purchasing an additional 12 shares in the last quarter. Tobias Financial Advisors Inc. lifted its holdings in Eli Lilly and Company by 4.1% during the fourth quarter. Tobias Financial Advisors Inc. now owns 307 shares of the company's stock valued at $237,000 after purchasing an additional 12 shares in the last quarter. Redwood Investments LLC grew its position in shares of Eli Lilly and Company by 0.5% in the fourth quarter. Redwood Investments LLC now owns 2,209 shares of the company's stock valued at $1,705,000 after purchasing an additional 12 shares during the period. Finally, Hobbs Wealth Management LLC increased its stake in shares of Eli Lilly and Company by 0.8% during the first quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company's stock worth $1,205,000 after purchasing an additional 12 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LLY has been the topic of a number of research reports. UBS Group decreased their price target on shares of Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating on the stock in a research note on Friday. Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their price target for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Finally, Leerink Partnrs lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a report on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $990.89.

Insider Activity

In related news, Director Jamere Jackson acquired 200 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, August 8th. The shares were purchased at an average cost of $639.56 per share, for a total transaction of $127,912.00. Following the acquisition, the director owned 9,402 shares in the company, valued at approximately $6,013,143.12. This represents a 2.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.13% of the company's stock.

Eli Lilly and Company Trading Down 2.5%

NYSE:LLY traded down $15.71 on Friday, hitting $625.15. The stock had a trading volume of 14,089,857 shares, compared to its average volume of 4,833,475. The company has a fifty day moving average price of $776.36 and a two-hundred day moving average price of $799.60. Eli Lilly and Company has a 1-year low of $623.78 and a 1-year high of $972.53. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18. The stock has a market cap of $592.48 billion, a price-to-earnings ratio of 40.86, a PEG ratio of 0.91 and a beta of 0.44.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $6.31 EPS for the quarter, beating analysts' consensus estimates of $5.59 by $0.72. The firm had revenue of $15.56 billion for the quarter, compared to analysts' expectations of $14.40 billion. Eli Lilly and Company had a return on equity of 98.25% and a net margin of 25.91%. The firm's quarterly revenue was up 37.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.92 earnings per share. Equities research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

Eli Lilly and 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.