Fort Pitt Capital Group LLC Cuts Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Fort Pitt Capital Group LLC lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.7% during the first quarter, Holdings Channel reports. The fund owned 1,152 shares of the company’s stock after selling 32 shares during the period. Fort Pitt Capital Group LLC’s holdings in Eli Lilly and Company were worth $896,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Eli Lilly and Company by 0.9% in the third quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after buying an additional 659,838 shares during the last quarter. Capital World Investors increased its holdings in Eli Lilly and Company by 0.3% in the fourth quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock valued at $15,709,466,000 after buying an additional 89,720 shares during the last quarter. Morgan Stanley raised its holdings in Eli Lilly and Company by 0.7% during the third quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock worth $6,738,605,000 after purchasing an additional 83,915 shares in the last quarter. Norges Bank purchased a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $5,992,890,000. Finally, Capital Research Global Investors boosted its holdings in shares of Eli Lilly and Company by 4.5% in the 4th quarter. Capital Research Global Investors now owns 7,577,592 shares of the company’s stock valued at $4,417,120,000 after buying an additional 325,342 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. TheStreet raised shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research report on Friday, March 8th. JPMorgan Chase & Co. boosted their target price on Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Argus increased their price target on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Jefferies Financial Group boosted their price target on Eli Lilly and Company from $925.00 to $957.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Finally, The Goldman Sachs Group upped their target price on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $803.50.

Eli Lilly and Company Trading Up 0.3 %

NYSE LLY traded up $2.74 during trading hours on Monday, hitting $886.62. 430,219 shares of the company’s stock were exchanged, compared to its average volume of 2,926,763. The business’s 50 day moving average is $798.59 and its 200-day moving average is $729.89. Eli Lilly and Company has a 12-month low of $434.34 and a 12-month high of $905.45. The firm has a market capitalization of $842.65 billion, a P/E ratio of 130.17, a price-to-earnings-growth ratio of 1.93 and a beta of 0.36. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35.

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, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $8.94 billion. During the same period in the prior year, the business posted $1.62 earnings per share. The firm’s revenue for the quarter was up 26.0% compared to the same quarter last year. As a group, analysts anticipate that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $5.20 annualized dividend and a yield of 0.59%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s 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 transaction, the insider now directly owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Johna Norton sold 7,056 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.38, for a total value of $5,781,545.28. Following the transaction, the executive vice president now directly owns 25,428 shares in the company, valued at approximately $20,835,194.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s 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 completion of the transaction, the insider now owns 98,554,195 shares in the company, valued at $79,730,343,755. The disclosure for this sale can be found here. Insiders have sold a total of 772,475 shares of company stock worth $656,838,859 in the last three months. 0.13% of the stock is currently owned by company insiders.

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.