Eli Lilly and Company (NYSE:LLY) Stock Position Lessened by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC reduced its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 18.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,438 shares of the company's stock after selling 543 shares during the quarter. Connecticut Wealth Management LLC's holdings in Eli Lilly and Company were worth $1,882,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Eli Lilly and Company by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company's stock worth $57,320,226,000 after acquiring an additional 475,530 shares during the period. Geode Capital Management LLC grew its stake in shares of Eli Lilly and Company by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock worth $13,389,651,000 after purchasing an additional 291,875 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Eli Lilly and Company by 19.0% in the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after purchasing an additional 2,012,129 shares in the last quarter. Norges Bank acquired a new stake in Eli Lilly and Company during the fourth quarter valued at approximately $8,407,908,000. Finally, Capital Research Global Investors boosted its holdings in Eli Lilly and Company by 16.1% during the fourth quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock worth $8,304,811,000 after buying an additional 1,493,673 shares in the last quarter. Institutional investors own 82.53% of the company's stock.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the firm's 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 sale, the chief accounting officer now owns 5,840 shares of the company's stock, valued at $4,778,521.60. This trade represents a 14.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.13% of the company's stock.

Eli Lilly and Company Trading Down 3.0%

Eli Lilly and Company stock opened at $724.28 on Thursday. Eli Lilly and Company has a one year low of $677.09 and a one year high of $972.53. The company's fifty day moving average price is $793.65 and its two-hundred day moving average price is $804.27. The company has a market capitalization of $686.43 billion, a price-to-earnings ratio of 61.85, a PEG ratio of 1.40 and a beta of 0.48. 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 (NYSE:LLY - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The company had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same quarter last year, the firm posted $2.58 earnings per share. The firm's revenue for the quarter was up 45.2% compared to the same quarter last year. On average, analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently announced 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 of this dividend is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a yield of 0.83%. Eli Lilly and Company's payout ratio is presently 48.82%.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of recent research reports. Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price target on the stock. StockNews.com upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Truist Financial raised their target price on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Finally, UBS Group cut their price target on shares of 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target 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.

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