Capital Management Associates NY Makes New Investment in Eli Lilly and Company (NYSE:LLY)

Capital Management Associates NY purchased a new position in shares of Eli Lilly and Company (NYSE:LLY) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,600 shares of the company’s stock, valued at approximately $1,245,000. Eli Lilly and Company accounts for about 1.5% of Capital Management Associates NY’s portfolio, making the stock its 27th biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lipe & Dalton acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at about $26,000. Tidemark LLC acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at about $29,000. Core Wealth Advisors Inc. lifted its holdings in shares of Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after buying an additional 32 shares during the period. Frank Rimerman Advisors LLC purchased a new position in shares of Eli Lilly and Company in the 4th quarter valued at about $37,000. Finally, St. Johns Investment Management Company LLC increased its stake in shares of Eli Lilly and Company by 123.3% in the 4th quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock valued at $39,000 after purchasing an additional 37 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 1.3 %

NYSE:LLY traded down $12.47 during midday trading on Thursday, reaching $927.31. The company had a trading volume of 1,700,679 shares, compared to its average volume of 2,927,762. The firm has a market capitalization of $881.32 billion, a price-to-earnings ratio of 136.88, a PEG ratio of 2.00 and a beta of 0.41. The stock’s fifty day simple moving average is $841.60 and its 200-day simple moving average is $758.80. Eli Lilly and Company has a 12-month low of $434.34 and a 12-month high of $945.69. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90.

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

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total value of $1,660,068.00. Following the sale, the insider now directly owns 98,554,195 shares in the company, valued at $79,730,343,755. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Johna Norton sold 7,056 shares of Eli Lilly and Company stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the sale, the executive vice president now owns 25,428 shares in the company, valued at $20,835,194.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total value of $1,660,068.00. Following the sale, the insider now owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The disclosure for this sale can be found here. Insiders have sold a total of 1,004,704 shares of company stock worth $869,479,116 over the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on LLY shares. Argus lifted their price target on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Barclays increased their target price on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a report on Wednesday. Bank of America reissued a “buy” rating and set a $1,000.00 target price on shares of Eli Lilly and Company in a report on Monday, June 24th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,001.00 price target on shares of Eli Lilly and Company in a report on Wednesday, July 3rd. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $843.00.

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.