Voloridge Investment Management LLC Sells 60,742 Shares of Eli Lilly and Company (NYSE:LLY)

Voloridge Investment Management LLC cut its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 64.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,258 shares of the company's stock after selling 60,742 shares during the period. Voloridge Investment Management LLC's holdings in Eli Lilly and Company were worth $25,675,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. FPC Investment Advisory Inc. grew its position in Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company's stock valued at $45,000 after acquiring an additional 43 shares during the last quarter. Prudent Man Investment Management Inc. acquired a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $48,000. Compass Financial Services Inc bought a new stake in shares of Eli Lilly and Company during the 4th quarter valued at approximately $50,000. Fiduciary Advisors Inc. bought a new stake in shares of Eli Lilly and Company during the 4th quarter valued at approximately $58,000. Finally, Bellwether Advisors LLC acquired a new position in Eli Lilly and Company during the 4th quarter worth approximately $66,000. Institutional investors and hedge funds own 82.53% of the company's stock.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the firm's stock in a transaction 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 directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. This trade represents a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

LLY has been the topic of a number of research analyst reports. Morgan Stanley restated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Truist Financial raised their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Citigroup reduced their price objective on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. Hsbc Global Res lowered Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. Finally, The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,011.37.

Eli Lilly and Company Trading Down 3.0%

NYSE:LLY opened at $724.28 on Thursday. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The firm's fifty day moving average is $793.65 and its 200-day moving average is $804.27. The firm has a market cap of $686.43 billion, a P/E ratio of 61.85, a P/E/G ratio of 1.40 and a beta of 0.48.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its earnings results 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 firm had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same quarter in the previous year, the firm earned $2.58 EPS. Eli Lilly and Company's quarterly revenue was up 45.2% on a year-over-year basis. Equities analysts expect that Eli Lilly and Company will post 23.48 earnings per share 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. 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 0.83%. Eli Lilly and Company's dividend payout ratio is currently 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.

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