Eli Lilly and Company (NYSE:LLY) Shares Sold by Lockheed Martin Investment Management Co.

Key Points

• Lockheed Martin Investment Management Co. reduced its stake in Eli Lilly by 16.8%, leaving it with 19,370 shares valued at approximately $16 million after selling 3,920 shares in the first quarter.
• Eli Lilly's stock experienced a 2.5% decline to $625.15, with a reported EPS of $6.31 surpassing forecasts by $0.72, alongside a year-over-year revenue increase of 37.6%.
• The company announced a quarterly dividend of $1.50 per share, equivalent to an annualized dividend of $6.00, resulting in a yield of 1.0%.

Lockheed Martin Investment Management Co. lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 16.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,370 shares of the company's stock after selling 3,920 shares during the period. Lockheed Martin Investment Management Co.'s holdings in Eli Lilly and Company were worth $15,998,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. WestEnd Advisors LLC lifted its holdings in Eli Lilly and Company by 210.0% in the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after acquiring an additional 21 shares during the period. Citizens National Bank Trust Department grew its position in shares of Eli Lilly and Company by 180.0% during the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after acquiring an additional 27 shares during the period. Financial Gravity Asset Management Inc. purchased a new position in shares of Eli Lilly and Company in the 1st quarter valued at about $40,000. Mascagni Wealth Management Inc. purchased a new position in shares of Eli Lilly and Company in the 4th quarter valued at about $43,000. Finally, O Brien Wealth Partners LLC increased its stake in shares of 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 purchasing an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. UBS Group cut their price target on 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. Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Cantor Fitzgerald assumed coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price target for the company. Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Finally, Morgan Stanley restated an "overweight" rating and issued a $1,135.00 price target (up previously from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Eli Lilly and Company presently has an average rating of "Moderate Buy" and an average target price of $984.41.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock traded down $15.71 on Friday, hitting $625.15. 14,089,857 shares of the company were exchanged, compared to its average volume of 5,397,104. The stock has a market capitalization of $591.68 billion, a price-to-earnings ratio of 40.86, a price-to-earnings-growth ratio of 0.87 and a beta of 0.44. The company has a 50-day moving average price of $774.10 and a 200 day moving average price of $799.34. Eli Lilly and Company has a 1-year low of $623.78 and a 1-year 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.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its 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 for the quarter, compared to analysts' expectations of $14.40 billion. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%. The business's revenue for the quarter was up 37.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.92 EPS. As a group, sell-side 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 Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is currently 48.82%.

Insider Buying and Selling at Eli Lilly and Company

In other news, Director Jamere Jackson purchased 200 shares of Eli Lilly and Company stock in a transaction dated Friday, August 8th. The shares were purchased at an average price of $639.56 per share, with a total value of $127,912.00. Following the transaction, the director owned 9,402 shares in the company, valued at $6,013,143.12. This represents a 2.17% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

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.