Summit Global Investments Sells 1,849 Shares of Eli Lilly and Company (NYSE:LLY)

Summit Global Investments trimmed its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 19.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,848 shares of the company's stock after selling 1,849 shares during the quarter. Summit Global Investments' holdings in Eli Lilly and Company were worth $6,482,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Silvia Mccoll Wealth Management LLC boosted its position in Eli Lilly and Company by 5.4% during the first quarter. Silvia Mccoll Wealth Management LLC now owns 449 shares of the company's stock worth $371,000 after purchasing an additional 23 shares in the last quarter. GoalVest Advisory LLC boosted its holdings in Eli Lilly and Company by 3.5% in the first quarter. GoalVest Advisory LLC now owns 1,255 shares of the company's stock valued at $1,037,000 after purchasing an additional 42 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Eli Lilly and Company by 103,831.6% during the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after buying an additional 14,852,076 shares during the last quarter. AdvisorNet Financial Inc increased its position in Eli Lilly and Company by 3.4% in the 1st quarter. AdvisorNet Financial Inc now owns 2,436 shares of the company's stock valued at $2,012,000 after acquiring an additional 79 shares during the period. Finally, Howard Financial Services LTD. increased its position in shares of Eli Lilly and Company by 10.9% during the 1st quarter. Howard Financial Services LTD. now owns 701 shares of the company's stock valued at $579,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds own 82.53% of the company's stock.

Insiders Place Their Bets

In related news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,840 shares of the company's stock, valued at approximately $4,778,521.60. The trade was a 14.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.13% of the company's stock.

Eli Lilly and Company Stock Up 0.9%

LLY stock traded up $6.89 during trading on Monday, hitting $744.56. 1,324,558 shares of the stock traded hands, compared to its average volume of 3,630,673. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53. The firm's 50 day moving average is $776.85 and its two-hundred day moving average is $799.98. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The stock has a market cap of $705.64 billion, a price-to-earnings ratio of 63.54, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced 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). The business had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The firm's quarterly revenue was up 45.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.58 earnings per share. On average, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be paid a dividend of $1.50 per share. The ex-dividend date is Friday, May 16th. This represents a $6.00 annualized dividend and a yield of 0.81%. Eli Lilly and Company's payout ratio is 48.82%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price target for the company. UBS Group dropped their target price 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. Hsbc Global Res lowered Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, Wall Street Zen raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average target price of $1,011.37.

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.