Lee Financial Co Decreases Stake in Eli Lilly and Company $LLY

Key Points

• Lee Financial Co has reduced its stake in Eli Lilly and Company by 26.9% during the first quarter, now owning 1,767 shares worth approximately $1.46 million.
• CEO David A. Ricks purchased 1,632 shares of the company at an average price of $644.77 each, increasing his total ownership to 546,601 shares.
• Eli Lilly's quarterly earnings surpassed estimates with an EPS of $6.31, a significant increase from $3.92 in the same quarter last year, highlighting a 37.6% rise in revenue year-over-year.

Lee Financial Co lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 26.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,767 shares of the company's stock after selling 650 shares during the quarter. Lee Financial Co's holdings in Eli Lilly and Company were worth $1,459,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Brighton Jones LLC increased its stake in shares of Eli Lilly and Company by 22.0% in the 4th quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock worth $7,409,000 after acquiring an additional 1,730 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Eli Lilly and Company by 2.8% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock valued at $1,136,000 after buying an additional 40 shares during the period. Orion Capital Management LLC raised its position in shares of Eli Lilly and Company by 2.5% during the 4th quarter. Orion Capital Management LLC now owns 1,610 shares of the company's stock valued at $1,243,000 after buying an additional 40 shares during the period. Bank Pictet & Cie Europe AG increased its stake in Eli Lilly and Company by 4.1% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 64,758 shares of the company's stock worth $49,993,000 after acquiring an additional 2,568 shares during the last quarter. Finally, Breed s Hill Capital LLC raised its position in Eli Lilly and Company by 212.0% in the fourth quarter. Breed s Hill Capital LLC now owns 1,426 shares of the company's stock valued at $1,101,000 after purchasing an additional 969 shares during the period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Eli Lilly and Company

In other news, CEO David A. Ricks acquired 1,632 shares of the firm's stock in a transaction dated 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 acquisition, the chief executive officer owned 546,601 shares of the company's stock, valued at $352,431,926.77. The trade was a 0.30% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jamere Jackson bought 200 shares of the business's stock in a transaction dated Friday, August 8th. The stock was acquired at an average cost of $639.56 per share, for a total transaction of $127,912.00. Following the completion of the acquisition, the director directly owned 9,402 shares in the company, valued at approximately $6,013,143.12. This trade represents a 2.17% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 4,514 shares of company stock valued at $2,894,841 over the last 90 days. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $701.51 on Monday. The company has a market capitalization of $663.95 billion, a price-to-earnings ratio of 45.85, a price-to-earnings-growth ratio of 0.98 and a beta of 0.44. Eli Lilly and Company has a 52-week low of $623.78 and a 52-week high of $972.53. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. The stock has a 50 day moving average price of $764.55 and a 200 day moving average price of $794.43.

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

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a dividend of $1.50 per share. 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 39.22%.

Analyst Ratings Changes

A number of brokerages have weighed in on LLY. DZ Bank upgraded shares of Eli Lilly and Company from a "hold" rating to a "strong-buy" rating in a research report on Thursday. Leerink Partners reiterated a "market perform" rating and set a $715.00 price target on shares of Eli Lilly and Company in a research note on Thursday, August 7th. Hsbc Global Res cut shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. UBS Group dropped 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 note on Friday, August 8th. Finally, Daiwa Capital Markets cut Eli Lilly and Company to a "neutral" rating and set a $700.00 price objective on the stock. in a research note on Sunday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $950.17.

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.

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