Principal Street Partners LLC Sells 1,426 Shares of Eli Lilly and Company (NYSE:LLY)

Principal Street Partners LLC lessened its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 39.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,159 shares of the company's stock after selling 1,426 shares during the quarter. Principal Street Partners LLC's holdings in Eli Lilly and Company were worth $1,667,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. FWG Holdings LLC lifted its position in shares of Eli Lilly and Company by 0.6% during the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company's stock worth $1,640,000 after buying an additional 12 shares during the period. Morling Financial Advisors LLC increased its holdings in Eli Lilly and Company by 4.7% during the 4th 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 increased its holdings 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 valued at $468,000 after purchasing an additional 12 shares in the last quarter. Applied Finance Capital Management LLC increased its holdings in Eli Lilly and Company by 1.4% during 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 in the last quarter. Finally, Garner Asset Management Corp increased its holdings in Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company's stock valued at $411,000 after purchasing an additional 12 shares in the last quarter. Institutional investors own 82.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LLY. Citigroup dropped their price target on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their price target for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. UBS Group dropped their price target on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Wall Street Zen raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,011.37.

Insider Buying and Selling at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. The trade was a 14.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.13% of the company's stock.

Eli Lilly and Company Trading Down 1.4%

Shares of NYSE:LLY traded down $10.11 during midday trading on Thursday, hitting $714.84. The company had a trading volume of 4,242,720 shares, compared to its average volume of 3,616,535. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. 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 stock has a market cap of $677.48 billion, a price-to-earnings ratio of 61.05, a PEG ratio of 1.40 and a beta of 0.48. The firm has a fifty day simple moving average of $793.65 and a 200 day simple moving average of $804.27.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $12.77 billion. During the same period in the previous year, the firm posted $2.58 earnings per share. The firm's revenue was up 45.2% on a year-over-year basis. On average, analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a yield of 0.84%. Eli Lilly and Company's payout ratio is 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.