Cullen Investment Group LTD. Reduces Position in Eli Lilly and Company (NYSE:LLY)

Cullen Investment Group LTD. lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 0.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,573 shares of the company’s stock after selling 86 shares during the period. Eli Lilly and Company makes up about 1.6% of Cullen Investment Group LTD.’s portfolio, making the stock its 15th biggest position. Cullen Investment Group LTD.’s holdings in Eli Lilly and Company were worth $10,369,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Versant Capital Management Inc boosted its stake in shares of Eli Lilly and Company by 1.8% in the first quarter. Versant Capital Management Inc now owns 736 shares of the company’s stock valued at $573,000 after purchasing an additional 13 shares during the period. Moseley Investment Management Inc. boosted its stake in shares of Eli Lilly and Company by 0.4% in the first quarter. Moseley Investment Management Inc. now owns 3,890 shares of the company’s stock valued at $3,027,000 after purchasing an additional 14 shares during the period. Buckhead Capital Management LLC boosted its stake in shares of Eli Lilly and Company by 0.7% in the fourth quarter. Buckhead Capital Management LLC now owns 2,104 shares of the company’s stock valued at $1,226,000 after purchasing an additional 15 shares during the period. Levin Capital Strategies L.P. boosted its stake in shares of Eli Lilly and Company by 3.8% in the fourth quarter. Levin Capital Strategies L.P. now owns 415 shares of the company’s stock valued at $242,000 after purchasing an additional 15 shares during the period. Finally, Clearwater Capital Advisors LLC boosted its stake in shares of Eli Lilly and Company by 1.3% in the fourth quarter. Clearwater Capital Advisors LLC now owns 1,202 shares of the company’s stock valued at $701,000 after purchasing an additional 15 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 0.7 %

Eli Lilly and Company stock opened at $891.46 on Thursday. The firm has a market cap of $847.25 billion, a PE ratio of 131.29, a P/E/G ratio of 1.94 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. The firm’s 50 day moving average price is $793.39 and its two-hundred day moving average price is $724.73. Eli Lilly and Company has a twelve month low of $434.34 and a twelve month high of $894.87.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Monday, May 6th. The company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The company had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. During the same quarter in the prior year, the business posted $1.62 EPS. Eli Lilly and Company’s quarterly revenue was up 26.0% on a year-over-year basis. On average, research analysts predict that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Wednesday, May 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Analysts Set New Price Targets

LLY has been the subject of several recent research reports. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Truist Financial raised their target price on shares of Eli Lilly and Company from $850.00 to $892.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. BMO Capital Markets raised their target price on shares of Eli Lilly and Company from $900.00 to $1,001.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. raised their target price on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Finally, Bank of America upped their price objective on shares of Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $787.53.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the sale, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the completion of the sale, the insider now owns 98,554,195 shares in the company, valued at approximately $79,730,343,755. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the sale, the chief accounting officer now owns 7,130 shares of the company’s stock, valued at approximately $5,842,821.10. The disclosure for this sale can be found here. Insiders sold a total of 762,804 shares of company stock valued at $648,109,138 in the last ninety days. Company insiders own 0.13% of the company’s stock.

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.