Abacus Planning Group Inc. Cuts Holdings in Eli Lilly and Company (NYSE:LLY)

Abacus Planning Group Inc. reduced its position in Eli Lilly and Company (NYSE:LLY) by 4.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,877 shares of the company’s stock after selling 84 shares during the quarter. Abacus Planning Group Inc.’s holdings in Eli Lilly and Company were worth $1,460,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Fuller & Thaler Asset Management Inc. increased its holdings in Eli Lilly and Company by 7.0% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 3,054 shares of the company’s stock valued at $1,640,000 after purchasing an additional 200 shares in the last quarter. Optiver Holding B.V. acquired a new stake in shares of Eli Lilly and Company during the third quarter valued at about $36,000. Eagle Asset Management Inc. grew its stake in shares of Eli Lilly and Company by 37.2% during the third quarter. Eagle Asset Management Inc. now owns 21,274 shares of the company’s stock valued at $11,427,000 after acquiring an additional 5,772 shares in the last quarter. Jacobi Capital Management LLC grew its stake in shares of Eli Lilly and Company by 7.7% during the third quarter. Jacobi Capital Management LLC now owns 16,394 shares of the company’s stock valued at $8,805,000 after acquiring an additional 1,168 shares in the last quarter. Finally, GSB Wealth Management LLC grew its stake in shares of Eli Lilly and Company by 10.3% during the third quarter. GSB Wealth Management LLC now owns 800 shares of the company’s stock valued at $430,000 after acquiring an additional 75 shares in the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $809.00, for a total value of $1,660,068.00. Following the transaction, the insider now owns 98,554,195 shares in the company, valued at $79,730,343,755. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Eli Lilly and Company news, EVP Johna Norton sold 7,056 shares of Eli Lilly and Company stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.38, for a total transaction of $5,781,545.28. Following the transaction, the executive vice president now directly owns 25,428 shares in the company, valued at approximately $20,835,194.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Lilly Endowment Inc sold 2,052 shares of Eli Lilly and Company stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total transaction of $1,660,068.00. Following the transaction, the insider now owns 98,554,195 shares in the company, valued at $79,730,343,755. The disclosure for this sale can be found here. Insiders have sold 772,475 shares of company stock worth $656,838,859 over the last quarter. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company Price Performance

Shares of NYSE LLY traded up $6.29 during mid-day trading on Monday, reaching $890.17. 532,083 shares of the company traded hands, compared to its average volume of 2,928,877. Eli Lilly and Company has a fifty-two week low of $434.34 and a fifty-two week high of $905.45. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. The firm has a market cap of $846.03 billion, a PE ratio of 130.83, a price-to-earnings-growth ratio of 1.93 and a beta of 0.36. The stock has a fifty day simple moving average of $798.59 and a 200-day simple moving average of $729.89.

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. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The business had revenue of $8.77 billion for the quarter, compared to analyst estimates of $8.94 billion. During the same quarter last year, the business earned $1.62 earnings per share. The business’s revenue for the quarter was up 26.0% on a year-over-year basis. Equities research analysts anticipate that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Thursday, May 16th were paid 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 dividend payout ratio is presently 76.58%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LLY. Jefferies Financial Group raised their target price on Eli Lilly and Company from $925.00 to $957.00 and gave the company a “buy” rating in a research note on Friday, June 7th. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Citigroup lifted their price target on Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. TheStreet upgraded Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. Finally, JPMorgan Chase & Co. lifted their price target on Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $803.50.

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.