Eli Lilly and Company (NYSE:LLY) Shares Sold by Sherman Asset Management Inc.

Sherman Asset Management Inc. reduced its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 85.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 865 shares of the company's stock after selling 5,150 shares during the quarter. Eli Lilly and Company accounts for 0.7% of Sherman Asset Management Inc.'s investment portfolio, making the stock its 27th biggest holding. Sherman Asset Management Inc.'s holdings in Eli Lilly and Company were worth $715,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of LLY. Elevate Capital Advisors LLC purchased a new position in shares of Eli Lilly and Company in the 4th quarter valued at about $262,000. Capital & Planning LLC increased its holdings in Eli Lilly and Company by 15.6% in the fourth quarter. Capital & Planning LLC now owns 481 shares of the company's stock valued at $371,000 after buying an additional 65 shares in the last quarter. Garner Asset Management Corp lifted its position in shares of 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 acquiring an additional 12 shares during the period. Brighton Jones LLC boosted its stake in shares of Eli Lilly and Company by 22.0% during 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 in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $49,534,000. Institutional investors and hedge funds own 82.53% of the company's stock.

Wall Street Analysts Forecast Growth

LLY has been the subject of several research reports. Guggenheim reaffirmed a "buy" rating on shares of Eli Lilly and Company in a report on Friday, May 23rd. Hsbc Global Res lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Wall Street Zen raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, Cantor Fitzgerald began coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company has a consensus rating of "Moderate Buy" and an average target price of $1,011.37.

Eli Lilly and Company Trading Up 0.4%

Shares of NYSE LLY traded up $3.01 on Thursday, reaching $811.62. 2,264,167 shares of the company traded hands, compared to its average volume of 3,645,503. The stock has a market capitalization of $769.20 billion, a PE ratio of 69.31, a P/E/G ratio of 1.40 and a beta of 0.41. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week 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 company has a 50 day moving average of $771.74 and a 200 day moving average of $800.91.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). The company had revenue of $12.73 billion for 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 business's revenue for the quarter was up 45.2% on a year-over-year basis. During the same period last year, the company posted $2.58 EPS. On average, equities research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date was Friday, May 16th. Eli Lilly and Company's payout ratio is currently 48.82%.

Eli Lilly and Company 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.