Bridge Creek Capital Management LLC Reduces Position in Eli Lilly and Company (NYSE:LLY)

Bridge Creek Capital Management LLC lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 5.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 2,325 shares of the company’s stock after selling 125 shares during the quarter. Bridge Creek Capital Management LLC’s holdings in Eli Lilly and Company were worth $1,809,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Eli Lilly and Company by 0.9% during the third quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after buying an additional 659,838 shares during the period. Capital World Investors boosted its position in shares of Eli Lilly and Company by 0.3% during the fourth quarter. Capital World Investors now owns 26,949,773 shares of the company’s stock valued at $15,709,466,000 after buying an additional 89,720 shares during the period. Morgan Stanley boosted its position in shares of Eli Lilly and Company by 0.7% during the third quarter. Morgan Stanley now owns 12,545,572 shares of the company’s stock valued at $6,738,605,000 after buying an additional 83,915 shares during the period. Norges Bank purchased a new position in shares of Eli Lilly and Company during the fourth quarter valued at approximately $5,992,890,000. Finally, Capital Research Global Investors boosted its position in shares of Eli Lilly and Company by 4.5% during the fourth quarter. Capital Research Global Investors now owns 7,577,592 shares of the company’s stock valued at $4,417,120,000 after buying an additional 325,342 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

LLY has been the subject of several research analyst reports. Bank of America lifted their price target 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. TheStreet raised shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. JPMorgan Chase & Co. lifted their price target on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Argus lifted their price target on shares of Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price target on shares of Eli Lilly and Company in a research note on Monday, June 17th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $803.50.

Insider Buying and Selling at Eli Lilly and Company

In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Eli Lilly and Company news, major shareholder Lilly Endowment Inc sold 2,052 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 98,554,195 shares of the company’s stock, valued at $79,730,343,755. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Johna Norton sold 7,056 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 25,428 shares in the company, valued at $20,835,194.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 772,475 shares of company stock valued at $656,838,859. 0.13% of the stock is owned by insiders.

Eli Lilly and Company Price Performance

Shares of LLY opened at $890.30 on Monday. The firm has a market capitalization of $846.15 billion, a PE ratio of 130.17, a price-to-earnings-growth ratio of 1.93 and a beta of 0.36. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.35 and a quick ratio of 1.03. Eli Lilly and Company has a 1-year low of $434.34 and a 1-year high of $905.45. The company’s fifty day moving average price is $798.59 and its 200-day moving average price is $729.89.

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

Eli Lilly and Company Dividend Announcement

The firm 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 annualized dividend and a yield of 0.58%. The ex-dividend date was Wednesday, May 15th. Eli Lilly and Company’s payout ratio is 76.58%.

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.