First City Capital Management Inc. Trims Holdings in Eli Lilly and Company (NYSE:LLY)

First City Capital Management Inc. reduced its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 22.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,333 shares of the company's stock after selling 1,862 shares during the quarter. Eli Lilly and Company comprises about 3.1% of First City Capital Management Inc.'s investment portfolio, making the stock its 9th biggest position. First City Capital Management Inc.'s holdings in Eli Lilly and Company were worth $5,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in LLY. Knightsbridge Asset Management LLC grew its stake in shares of Eli Lilly and Company by 1.9% during the fourth quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock valued at $628,000 after buying an additional 15 shares during the last quarter. Centerpoint Advisory Group bought a new position in shares of Eli Lilly and Company during the fourth quarter valued at approximately $514,000. LS Investment Advisors LLC grew its stake in shares of Eli Lilly and Company by 1.7% during the first quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock valued at $1,933,000 after buying an additional 40 shares during the last quarter. Kentucky Trust Co bought a new position in shares of Eli Lilly and Company during the fourth quarter valued at approximately $834,000. Finally, CSM Advisors LLC grew its stake in shares of Eli Lilly and Company by 30.6% during the fourth quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock valued at $807,000 after buying an additional 245 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on LLY. Morgan Stanley reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Wall Street Zen upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Saturday. Cantor Fitzgerald assumed coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price objective on the stock. Finally, Hsbc Global Res downgraded Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $1,011.37.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $770.00 on Friday. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. The stock has a fifty day moving average price of $770.87 and a 200-day moving average price of $800.27. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The firm has a market cap of $729.76 billion, a PE ratio of 65.76, a P/E/G ratio of 1.40 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $3.34 EPS 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 business had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. During the same quarter in the prior year, the company posted $2.58 EPS. The business's revenue for the quarter was up 45.2% on a year-over-year basis. Equities research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be issued a dividend of $1.50 per share. The ex-dividend date is Friday, May 16th. This represents a $6.00 annualized dividend and a dividend yield of 0.78%. Eli Lilly and Company's dividend payout ratio is presently 48.82%.

Insider Activity

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

About Eli Lilly and Company

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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