Harbor Investment Advisory LLC Lowers Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Harbor Investment Advisory LLC reduced its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 5.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,122 shares of the company's stock after selling 574 shares during the period. Eli Lilly and Company comprises 0.8% of Harbor Investment Advisory LLC's holdings, making the stock its 22nd biggest position. Harbor Investment Advisory LLC's holdings in Eli Lilly and Company were worth $8,360,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Knightsbridge Asset Management LLC lifted its holdings in shares of Eli Lilly and Company by 1.9% in the 4th 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 period. Centerpoint Advisory Group purchased a new position in Eli Lilly and Company during the fourth quarter valued at approximately $514,000. Kentucky Trust Co acquired a new position in Eli Lilly and Company in the fourth quarter valued at approximately $834,000. CSM Advisors LLC boosted its position in Eli Lilly and Company by 30.6% in the 4th quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock worth $807,000 after purchasing an additional 245 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in shares of Eli Lilly and Company by 30.2% during the 4th quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company's stock valued at $5,202,000 after purchasing an additional 1,562 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Eli Lilly and Company Trading Up 2.1%

Shares of LLY stock traded up $16.00 on Wednesday, hitting $766.78. 3,131,031 shares of the stock traded hands, compared to its average volume of 3,637,002. The firm's 50-day moving average price is $773.82 and its two-hundred day moving average price is $799.64. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The stock has a market capitalization of $726.71 billion, a PE ratio of 65.48, a PEG 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.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its 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). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The firm had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. During the same period last year, the firm earned $2.58 earnings per share. Eli Lilly and Company's revenue for the quarter was up 45.2% on a year-over-year basis. As a group, analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

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

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the company'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 transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their price target for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Morgan Stanley reissued an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price objective for the company. Finally, The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.