Eli Lilly and Company (NYSE:LLY) Shares Sold by Lumbard & Kellner LLC

Lumbard & Kellner LLC cut its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 18.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,520 shares of the company's stock after selling 573 shares during the period. Lumbard & Kellner LLC's holdings in Eli Lilly and Company were worth $2,081,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Capital & Planning LLC increased its holdings in Eli Lilly and Company by 15.6% during the 4th quarter. Capital & Planning LLC now owns 481 shares of the company's stock worth $371,000 after purchasing an additional 65 shares during the last quarter. Garner Asset Management Corp grew its position in shares of Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after buying an additional 12 shares in the last quarter. Brighton Jones LLC grew its position in shares of Eli Lilly and Company by 22.0% during the fourth quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock worth $7,409,000 after buying an additional 1,730 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Eli Lilly and Company in the fourth quarter worth $49,534,000. Finally, Revolve Wealth Partners LLC raised its holdings in Eli Lilly and Company by 2.8% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock valued at $1,136,000 after acquiring an additional 40 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Down 0.9%

NYSE:LLY opened at $784.28 on Thursday. The firm has a market capitalization of $743.29 billion, a P/E ratio of 63.81, a P/E/G ratio of 1.16 and a beta of 0.40. The business has a 50 day simple moving average of $778.55 and a 200 day simple moving average of $801.58. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. 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 announced its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.64 by ($1.30). The firm 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 22.67% and a return on equity of 85.51%. The business's revenue was up 45.2% compared to the same quarter last year. During the same period last year, the firm posted $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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Friday, May 16th. Eli Lilly and Company's payout ratio is 48.82%.

Analyst Ratings Changes

Several brokerages have weighed in on LLY. Hsbc Global Res lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price target on the stock. Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Guggenheim reissued a "buy" rating on shares of Eli Lilly and Company in a report on Friday, May 23rd. Finally, UBS Group reduced their target price on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,011.37.

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.

Want to see what other hedge funds are holding LLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eli Lilly and Company (NYSE:LLY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.