Congress Asset Management Co. Sells 2,355 Shares of Eli Lilly and Company (NYSE:LLY)

Congress Asset Management Co. cut its position in Eli Lilly and Company (NYSE:LLY) by 1.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 198,284 shares of the company’s stock after selling 2,355 shares during the quarter. Eli Lilly and Company accounts for about 1.2% of Congress Asset Management Co.’s portfolio, making the stock its 13th largest holding. Congress Asset Management Co.’s holdings in Eli Lilly and Company were worth $163,765,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mascagni Wealth Management Inc. acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at approximately $43,000. FPC Investment Advisory Inc. raised its position in shares of Eli Lilly and Company by 358.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after buying an additional 43 shares in the last quarter. Prudent Man Investment Management Inc. acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at approximately $48,000. Compass Financial Services Inc acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at approximately $50,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at approximately $63,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 target price for the company. Guggenheim reiterated a “buy” rating on shares of Eli Lilly and Company in a research report on Friday, May 23rd. Erste Group Bank cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday. Morgan Stanley reiterated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus price target of $1,011.37.

Insider Activity

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the transaction, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at $4,778,521.60. This represents a 14.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Trading Up 0.6%

NYSE:LLY opened at $770.00 on Friday. The firm’s fifty day moving average is $770.87 and its 200-day moving average is $799.95. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The firm has a market cap of $729.76 billion, a P/E ratio of 65.76, a P/E/G ratio of 1.40 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY) last posted 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). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The firm had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. During the same period in the prior year, the company posted $2.58 earnings per share. The company’s revenue for the quarter was up 45.2% compared to the same quarter last year. Equities analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, May 16th. Eli Lilly and Company’s dividend payout ratio is currently 48.82%.

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.