Virtue Capital Management LLC Lowers Stake in Eli Lilly and Company (NYSE:LLY)

Virtue Capital Management LLC cut its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 68.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 537 shares of the company's stock after selling 1,167 shares during the period. Virtue Capital Management LLC's holdings in Eli Lilly and Company were worth $415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LLY. Grassi Investment Management raised its position in shares of Eli Lilly and Company by 0.3% in the fourth quarter. Grassi Investment Management now owns 79,512 shares of the company's stock worth $61,383,000 after acquiring an additional 225 shares during the period. Elevate Capital Advisors LLC acquired a new position in shares of Eli Lilly and Company in the fourth quarter worth about $262,000. Capital & Planning LLC raised its position in shares of Eli Lilly and Company by 15.6% in the fourth quarter. Capital & Planning LLC now owns 481 shares of the company's stock worth $371,000 after acquiring an additional 65 shares during the period. Garner Asset Management Corp raised its position in shares of Eli Lilly and Company by 2.3% in the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after acquiring an additional 12 shares during the period. Finally, Brighton Jones LLC raised its position in shares of Eli Lilly and Company by 22.0% in the fourth 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 period. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the sale, the chief accounting officer now owns 5,840 shares of the company's stock, valued at $4,778,521.60. This represents a 14.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.13% of the company's stock.

Eli Lilly and Company Price Performance

NYSE LLY traded down $6.63 during trading hours on Wednesday, hitting $718.59. 2,937,655 shares of the company's stock traded hands, compared to its average volume of 3,624,940. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The company has a market capitalization of $681.03 billion, a PE ratio of 61.37, a PEG ratio of 1.40 and a beta of 0.48. 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 firm's 50-day moving average is $784.45 and its 200-day moving average is $801.86.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $12.77 billion. During the same period in the prior year, the company posted $2.58 EPS. The firm's revenue was up 45.2% on a year-over-year basis. Equities analysts forecast 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 Tuesday, June 10th. Stockholders 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 annualized dividend and a dividend yield of 0.83%. Eli Lilly and Company's dividend payout ratio (DPR) is 48.82%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Hsbc Global Res downgraded shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Truist Financial upped their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. UBS Group reduced their price target on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price target for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Eli Lilly and Company presently has an average rating of "Moderate Buy" and a consensus price target of $1,011.37.

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.