Eli Lilly and Company (NYSE:LLY) Position Decreased by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 5.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,424 shares of the company’s stock after selling 362 shares during the period. Eli Lilly and Company makes up about 1.2% of Cutter & CO Brokerage Inc.’s holdings, making the stock its 18th biggest position. Cutter & CO Brokerage Inc.’s holdings in Eli Lilly and Company were worth $4,998,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at about $5,992,890,000. International Assets Investment Management LLC lifted its position in Eli Lilly and Company by 61,268.8% in the 4th quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock worth $42,802,530,000 after buying an additional 7,330,815 shares in the last quarter. Sapient Capital LLC acquired a new stake in shares of Eli Lilly and Company during the 4th quarter valued at $682,139,000. Vanguard Group Inc. grew its holdings in shares of Eli Lilly and Company by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after acquiring an additional 659,838 shares in the last quarter. Finally, Comerica Bank acquired a new position in shares of Eli Lilly and Company in the third quarter worth $345,781,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder Lilly Endowment Inc sold 92,563 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the completion of the transaction, the insider now owns 98,556,247 shares in the company, valued at approximately $79,752,700,634.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Lilly Endowment Inc sold 92,563 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $809.21, for a total value of $74,902,905.23. Following the transaction, the insider now directly owns 98,556,247 shares of the company’s stock, valued at approximately $79,752,700,634.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 858,742 shares of company stock worth $735,573,781. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. BMO Capital Markets restated an “outperform” rating and issued a $1,001.00 target price on shares of Eli Lilly and Company in a research note on Wednesday. Argus increased their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research note on Monday. Citigroup increased their price target on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, TheStreet raised shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $816.78.

Eli Lilly and Company Stock Performance

NYSE:LLY traded up $16.47 during trading hours on Friday, hitting $914.57. 2,873,282 shares of the company traded hands, compared to its average volume of 2,947,616. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $869.22 billion, a price-to-earnings ratio of 134.69, a P/E/G ratio of 1.96 and a beta of 0.41. The firm has a 50-day moving average of $828.07 and a 200 day moving average of $747.74. Eli Lilly and Company has a twelve month low of $434.34 and a twelve month high of $918.50.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.05. The business had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The firm’s revenue was up 26.0% on a year-over-year basis. During the same quarter last year, the company earned $1.62 earnings per share. On average, analysts forecast that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Thursday, August 15th. Eli Lilly and Company’s payout ratio is 76.58%.

Eli Lilly and 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.