Enterprise Bank & Trust Co Trims Stock Position in Eli Lilly and Company (NYSE:LLY)

Enterprise Bank & Trust Co lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 9.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,809 shares of the company's stock after selling 620 shares during the quarter. Eli Lilly and Company makes up 1.9% of Enterprise Bank & Trust Co's portfolio, making the stock its 13th biggest position. Enterprise Bank & Trust Co's holdings in Eli Lilly and Company were worth $4,798,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. raised its stake in shares of Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company's stock worth $45,000 after buying an additional 43 shares during the period. Mascagni Wealth Management Inc. bought a new position in shares of Eli Lilly and Company in the 4th quarter worth $43,000. Prudent Man Investment Management Inc. bought a new position in shares of Eli Lilly and Company in the 4th quarter worth $48,000. Compass Financial Services Inc acquired a new position in Eli Lilly and Company during the 4th quarter valued at about $50,000. Finally, Fiduciary Advisors Inc. acquired a new position in Eli Lilly and Company during the 4th quarter valued at about $58,000. Institutional investors own 82.53% of the company's stock.

Insider Buying and Selling at Eli Lilly and Company

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 shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is available at this link. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on LLY. Morgan Stanley reissued an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, Guggenheim restated a "buy" rating on shares of Eli Lilly and Company in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,011.37.

Eli Lilly and Company Trading Down 0.2%

Shares of Eli Lilly and Company stock traded down $1.48 during mid-day trading on Thursday, hitting $764.36. The stock had a trading volume of 1,497,720 shares, compared to its average volume of 3,636,372. The firm has a 50-day moving average of $772.75 and a two-hundred day moving average of $799.41. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The firm has a market cap of $724.41 billion, a P/E ratio of 65.27, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48.

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 net margin of 23.51% and a return on equity of 85.24%. 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 business posted $2.58 EPS. The firm's revenue for the quarter was up 45.2% on a year-over-year basis. Sell-side analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be given 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 dividend payout ratio 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.