Courier Capital LLC Reduces Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Courier Capital LLC reduced its stake in Eli Lilly and Company (NYSE:LLY) by 0.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,776 shares of the company’s stock after selling 44 shares during the period. Courier Capital LLC’s holdings in Eli Lilly and Company were worth $3,945,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Mascagni Wealth Management Inc. purchased a new position in shares of Eli Lilly and Company during the fourth quarter worth approximately $43,000. FPC Investment Advisory Inc. grew its position in shares of Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after acquiring an additional 43 shares during the last quarter. Prudent Man Investment Management Inc. purchased a new position in shares of Eli Lilly and Company during the fourth quarter worth approximately $48,000. Compass Financial Services Inc purchased a new position in shares of Eli Lilly and Company during the fourth quarter worth approximately $50,000. Finally, Capital A Wealth Management LLC purchased a new position in shares of Eli Lilly and Company during the fourth quarter worth approximately $63,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value 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 position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

LLY has been the topic of a number of research reports. UBS Group lowered their target price on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Erste Group Bank downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday. The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Wall Street Zen raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Saturday. Finally, HSBC downgraded Eli Lilly and Company from a “buy” rating to a “reduce” rating and decreased their price target for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,011.37.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $770.00 on Monday. The firm has a market capitalization 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 has a 1-year low of $677.09 and a 1-year high of $972.53. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The business’s 50-day simple moving average is $770.87 and its 200-day simple moving average is $800.63.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.30). The firm had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The business’s revenue for the quarter was up 45.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.58 earnings per share. Equities analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

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 annualized dividend 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.