Fulton Bank N.A. Decreases Stock Position in Eli Lilly and Company (NYSE:LLY)

Fulton Bank N.A. lowered its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 13,997 shares of the company's stock after selling 761 shares during the quarter. Fulton Bank N.A.'s holdings in Eli Lilly and Company were worth $11,560,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Garner Asset Management Corp raised its stake in shares of Eli Lilly and Company by 2.3% in the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock valued at $411,000 after acquiring an additional 12 shares in the last quarter. FWG Holdings LLC grew its stake in shares of Eli Lilly and Company by 0.6% during the fourth quarter. FWG Holdings LLC now owns 2,023 shares of the company's stock worth $1,640,000 after purchasing an additional 12 shares in the last quarter. Morling Financial Advisors LLC boosted its holdings in Eli Lilly and Company by 4.7% in the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock valued at $205,000 after purchasing an additional 12 shares in the last quarter. Prestige Wealth Management Group LLC raised its stake in Eli Lilly and Company by 2.0% during the 4th quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company's stock worth $468,000 after acquiring an additional 12 shares in the last quarter. Finally, Applied Finance Capital Management LLC boosted its position in shares of Eli Lilly and Company by 1.4% in the 4th quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock valued at $660,000 after purchasing an additional 12 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. This represents a 14.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. HSBC downgraded shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their price objective for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their target price for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Wall Street Zen raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. UBS Group reduced their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, Guggenheim reaffirmed a "buy" rating on shares of Eli Lilly and Company in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company currently has an average rating of "Moderate Buy" and a consensus target price of $1,011.37.

Eli Lilly and Company Price Performance

LLY stock traded down $0.71 during trading on Thursday, reaching $765.13. 3,315,242 shares of the company were exchanged, compared to its average volume of 3,644,078. The company has a 50-day moving average of $772.75 and a two-hundred day moving average of $799.41. The company has a market capitalization of $725.14 billion, a price-to-earnings ratio of 65.34, a P/E/G ratio of 1.40 and a beta of 0.48. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. 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 quarterly earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). The company had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The company's revenue for the quarter was up 45.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.58 earnings per share. As a group, equities 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Friday, May 16th. Eli Lilly and Company's payout ratio is presently 48.82%.

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.