Eli Lilly and Company (NYSE:LLY) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC reduced its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 34.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 172,251 shares of the company's stock after selling 88,546 shares during the quarter. Eli Lilly and Company makes up approximately 0.6% of Fred Alger Management LLC's investment portfolio, making the stock its 26th largest position. Fred Alger Management LLC's holdings in Eli Lilly and Company were worth $132,978,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of LLY. Fullcircle Wealth LLC purchased a new stake in shares of Eli Lilly and Company in the fourth quarter valued at about $895,000. Coastal Bridge Advisors LLC grew its stake in shares of Eli Lilly and Company by 21.3% in the 4th quarter. Coastal Bridge Advisors LLC now owns 660 shares of the company's stock valued at $510,000 after buying an additional 116 shares during the period. Duquesne Family Office LLC acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $48,011,000. EP Wealth Advisors LLC raised its position in shares of Eli Lilly and Company by 0.3% during the 4th quarter. EP Wealth Advisors LLC now owns 33,937 shares of the company's stock valued at $26,200,000 after buying an additional 105 shares during the period. Finally, Colonial Trust Co SC lifted its holdings in Eli Lilly and Company by 1.4% in the fourth quarter. Colonial Trust Co SC now owns 18,136 shares of the company's stock valued at $14,001,000 after acquiring an additional 254 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the company'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 transaction, the chief accounting officer now owns 5,840 shares in the company, valued at $4,778,521.60. This represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.14% of the company's stock.

Eli Lilly and Company Stock Down 2.0 %

NYSE:LLY traded down $15.24 during trading hours on Friday, hitting $736.21. The company's stock had a trading volume of 4,068,043 shares, compared to its average volume of 3,511,825. Eli Lilly and Company has a 52-week low of $677.09 and a 52-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 stock has a market capitalization of $697.73 billion, a P/E ratio of 62.87, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48. The stock has a fifty day moving average of $810.98 and a 200-day moving average of $811.52.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data 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 during 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 company's revenue was up 45.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.58 EPS. On average, equities analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on LLY. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their target price for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. UBS Group cut their price objective on 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. Guggenheim reaffirmed a "buy" 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 note on Monday, April 28th. Finally, HSBC lowered Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their target price for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average target price of $1,002.80.

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.