FCG Investment Co Trims Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Key Points

• FCG Investment Co reduced its stake in Eli Lilly and Company by 18.7%, now holding 2,507 shares valued at approximately $2.07 million.
• CEO David A. Ricks and Director Jamere Jackson recently purchased shares of Eli Lilly, with Ricks acquiring 1,632 shares and Jackson buying 200 shares.
• Eli Lilly reported $6.31 earnings per share for the last quarter, exceeding estimates, while the company also declared a quarterly dividend of $1.50 per share.

FCG Investment Co trimmed its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 18.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,507 shares of the company's stock after selling 578 shares during the period. Eli Lilly and Company makes up 1.3% of FCG Investment Co's investment portfolio, making the stock its 22nd biggest holding. FCG Investment Co's holdings in Eli Lilly and Company were worth $2,071,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Redwood Investments LLC grew its stake in Eli Lilly and Company by 0.5% in the 4th quarter. Redwood Investments LLC now owns 2,209 shares of the company's stock valued at $1,705,000 after buying an additional 12 shares in the last quarter. Hobbs Wealth Management LLC grew its stake in Eli Lilly and Company by 0.8% in the 1st quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company's stock valued at $1,205,000 after buying an additional 12 shares in the last quarter. Hixon Zuercher LLC grew its stake in Eli Lilly and Company by 0.7% in the 1st quarter. Hixon Zuercher LLC now owns 1,789 shares of the company's stock valued at $1,477,000 after buying an additional 12 shares in the last quarter. O Brien Wealth Partners LLC grew its stake in Eli Lilly and Company by 25.5% in the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock valued at $49,000 after buying an additional 12 shares in the last quarter. Finally, Ascent Capital Management LLC grew its stake in Eli Lilly and Company by 2.5% in the 1st quarter. Ascent Capital Management LLC now owns 495 shares of the company's stock valued at $409,000 after buying an additional 12 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Eli Lilly and Company news, CEO David A. Ricks purchased 1,632 shares of the stock in a transaction on Tuesday, August 12th. The stock was acquired at an average cost of $644.77 per share, with a total value of $1,052,264.64. Following the completion of the purchase, the chief executive officer directly owned 546,601 shares of the company's stock, valued at approximately $352,431,926.77. This trade represents a 0.30% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jamere Jackson purchased 200 shares of the stock in a transaction on Friday, August 8th. The stock was acquired at an average cost of $639.56 per share, with a total value of $127,912.00. Following the completion of the purchase, the director directly owned 9,402 shares of the company's stock, valued at $6,013,143.12. The trade was a 2.17% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 4,514 shares of company stock valued at $2,894,841 over the last three months. 0.13% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LLY. Wall Street Zen upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Erste Group Bank lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. HSBC lowered shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their price target for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. UBS Group reduced their price target on shares of Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $964.88.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $701.51 on Friday. Eli Lilly and Company has a 52-week low of $623.78 and a 52-week high of $972.53. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.28. The company has a market capitalization of $663.95 billion, a P/E ratio of 45.85, a P/E/G ratio of 0.98 and a beta of 0.44. The company has a fifty day moving average of $764.55 and a 200-day moving average of $794.63.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share for the quarter, topping the consensus estimate of $5.59 by $0.72. The business had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. Eli Lilly and Company had a net margin of 25.91% and a return on equity of 92.72%. The firm's revenue for the quarter was up 37.6% on a year-over-year basis. During the same period in the previous year, the firm posted $3.92 earnings per share. As a group, equities research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.9%. Eli Lilly and Company's payout ratio is currently 39.22%.

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.

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