Beese Fulmer Investment Management Inc. Decreases Stock Position in Eli Lilly and Company (NYSE:LLY)

Beese Fulmer Investment Management Inc. lessened its holdings in Eli Lilly and Company (NYSE:LLY) by 14.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 584 shares of the company’s stock after selling 100 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Eli Lilly and Company were worth $454,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. GAMMA Investing LLC grew its position in Eli Lilly and Company by 16.4% in the 1st quarter. GAMMA Investing LLC now owns 6,805 shares of the company’s stock valued at $5,294,000 after acquiring an additional 960 shares during the last quarter. Summit Financial Group Inc. grew its position in shares of Eli Lilly and Company by 0.3% during the 1st quarter. Summit Financial Group Inc. now owns 10,534 shares of the company’s stock worth $8,195,000 after buying an additional 35 shares in the last quarter. Los Angeles Capital Management LLC grew its position in shares of Eli Lilly and Company by 3.1% during the 1st quarter. Los Angeles Capital Management LLC now owns 446,994 shares of the company’s stock worth $347,743,000 after buying an additional 13,446 shares in the last quarter. NBC Securities Inc. grew its position in shares of Eli Lilly and Company by 27.0% during the 1st quarter. NBC Securities Inc. now owns 4,770 shares of the company’s stock worth $3,711,000 after buying an additional 1,013 shares in the last quarter. Finally, CWM LLC grew its position in shares of Eli Lilly and Company by 7.9% during the 1st quarter. CWM LLC now owns 68,862 shares of the company’s stock worth $53,572,000 after buying an additional 5,041 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 0.7 %

Shares of NYSE:LLY opened at $891.46 on Thursday. Eli Lilly and Company has a 12-month low of $434.34 and a 12-month high of $894.87. The company has a market capitalization of $847.25 billion, a PE ratio of 131.29, a PEG ratio of 1.94 and a beta of 0.36. The business has a 50 day moving average of $793.39 and a two-hundred day moving average of $724.73. 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 posted its quarterly earnings data on Monday, May 6th. The company reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.05. The business had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The business’s revenue was up 26.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.62 earnings per share. As a group, analysts forecast that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 0.58%. The ex-dividend date was Wednesday, May 15th. Eli Lilly and Company’s payout ratio is currently 76.58%.

Insider Buying and Selling at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 92,563 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $809.21, for a total value of $74,902,905.23. Following the transaction, the insider now owns 98,556,247 shares of the company’s stock, valued at approximately $79,752,700,634.87. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Lilly Endowment Inc sold 92,563 shares of the stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the transaction, the insider now owns 98,556,247 shares of the company’s stock, valued at approximately $79,752,700,634.87. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Johna Norton sold 7,056 shares of the company’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 sale, the executive vice president now owns 25,428 shares in the company, valued at approximately $20,835,194.64. The disclosure for this sale can be found here. Insiders sold a total of 762,804 shares of company stock worth $648,109,138 in the last three months. 0.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on LLY shares. The Goldman Sachs Group increased their price target on 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. Argus raised their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. JPMorgan Chase & Co. raised their price objective on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. BMO Capital Markets raised their price objective on Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Finally, Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $787.53.

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.