Eli Lilly and Company (NYSE:LLY) Stake Cut by Madison Park Capital Advisors LLC

Madison Park Capital Advisors LLC reduced its holdings in Eli Lilly and Company (NYSE:LLY) by 3.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 538 shares of the company’s stock after selling 20 shares during the period. Madison Park Capital Advisors LLC’s holdings in Eli Lilly and Company were worth $418,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of LLY. Loomis Sayles & Co. L P lifted its stake in Eli Lilly and Company by 324.2% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,069 shares of the company’s stock worth $574,000 after acquiring an additional 817 shares in the last quarter. Bison Wealth LLC increased its position in Eli Lilly and Company by 13.8% in the 3rd quarter. Bison Wealth LLC now owns 4,504 shares of the company’s stock worth $2,420,000 after purchasing an additional 546 shares during the last quarter. Rathbones Group PLC increased its position in Eli Lilly and Company by 28.0% in the 3rd quarter. Rathbones Group PLC now owns 72,222 shares of the company’s stock worth $38,793,000 after purchasing an additional 15,803 shares during the last quarter. V Square Quantitative Management LLC increased its position in Eli Lilly and Company by 17.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 5,760 shares of the company’s stock worth $3,094,000 after purchasing an additional 837 shares during the last quarter. Finally, Provence Wealth Management Group increased its position in Eli Lilly and Company by 10.3% in the 3rd quarter. Provence Wealth Management Group now owns 2,386 shares of the company’s stock worth $1,282,000 after purchasing an additional 223 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Argus upped their target price on Eli Lilly and Company from $770.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. 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. BMO Capital Markets increased their price objective on 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. Finally, Bank of America increased their price objective on Eli Lilly and Company from $800.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, March 1st. Three 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 stock has an average rating of “Moderate Buy” and an average target price of $787.53.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $891.46 on Thursday. The stock 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 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 P/E ratio of 131.29, a P/E/G ratio of 1.94 and a beta of 0.36.

Eli Lilly and Company (NYSE:LLY) last posted its 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. The business had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. Eli Lilly and Company’s revenue was up 26.0% on a year-over-year basis. During the same quarter last year, the company earned $1.62 EPS. As a group, equities analysts expect that Eli Lilly and Company will post 13.76 EPS for the current year.

Eli Lilly and Company Dividend Announcement

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

Insider Transactions at Eli Lilly and Company

In other news, major shareholder Lilly Endowment Inc sold 194,978 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $885.91, for a total transaction of $172,732,959.98. Following the completion of the sale, the insider now owns 97,583,810 shares in the company, valued at $86,450,473,117.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, major shareholder Lilly Endowment Inc sold 194,978 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $885.91, for a total transaction of $172,732,959.98. Following the completion of the sale, the insider now owns 97,583,810 shares in the company, valued at $86,450,473,117.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Johna Norton sold 7,056 shares of the business’s stock in a transaction on 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 of the company’s stock, 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 over the last 90 days. 0.13% of the stock is owned by insiders.

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.