FCG Investment Co Has $1.98 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

FCG Investment Co reduced its holdings in Eli Lilly and Company (NYSE:LLY) by 7.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,542 shares of the company’s stock after selling 219 shares during the period. Eli Lilly and Company comprises about 1.6% of FCG Investment Co’s holdings, making the stock its 15th largest holding. FCG Investment Co’s holdings in Eli Lilly and Company were worth $1,978,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Lipe & Dalton acquired a new position in shares of Eli Lilly and Company in the fourth quarter worth $26,000. Tidemark LLC purchased a new stake in shares of Eli Lilly and Company during the 4th quarter worth about $29,000. Core Wealth Advisors Inc. raised its stake in shares of Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 32 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the 4th quarter valued at about $37,000. Finally, St. Johns Investment Management Company LLC grew 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 buying an additional 37 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other 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 completion of the sale, the insider now directly owns 98,554,195 shares in the company, valued at $79,730,343,755. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the transaction, the chief accounting officer now owns 7,130 shares in the company, valued at $5,842,821.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of the business’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 sale, the insider now directly owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The disclosure for this sale can be found here. Insiders have sold a total of 858,742 shares of company stock worth $735,573,781 in the last three months. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of NYSE LLY traded down $8.61 during midday trading on Thursday, reaching $898.10. 3,078,367 shares of the company traded hands, compared to its average volume of 2,667,176. Eli Lilly and Company has a 12 month low of $434.34 and a 12 month high of $918.50. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.03 and a current ratio of 1.35. The stock’s 50-day simple moving average is $824.60 and its 200-day simple moving average is $746.69. The firm has a market cap of $853.56 billion, a PE ratio of 132.27, a PEG ratio of 1.98 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.05. The firm had revenue of $8.77 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 26.0% on a year-over-year basis. During the same period last year, the firm posted $1.62 EPS. As a group, equities analysts anticipate that Eli Lilly and Company will post 13.76 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s payout ratio is currently 76.58%.

Analysts Set New Price Targets

A number of analysts have issued reports on LLY shares. TheStreet upgraded shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. BMO Capital Markets reiterated an “outperform” rating and issued a $1,001.00 price objective on shares of Eli Lilly and Company in a report on Wednesday. The Goldman Sachs Group increased their target price on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Finally, Citigroup increased their price objective on Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $812.72.

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.