Chapin Davis Inc. Trims Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Chapin Davis Inc. decreased its position in Eli Lilly and Company (NYSE:LLY) by 63.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,867 shares of the company’s stock after selling 3,232 shares during the period. Chapin Davis Inc.’s holdings in Eli Lilly and Company were worth $1,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LLY. Lipe & Dalton acquired a new stake in Eli Lilly and Company during the 4th quarter worth about $26,000. Tidemark LLC acquired a new stake in Eli Lilly and Company during the 4th quarter worth about $29,000. Core Wealth Advisors Inc. grew its position in Eli Lilly and Company by 188.2% during the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after purchasing an additional 32 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the 4th quarter valued at about $37,000. Finally, St. Johns Investment Management Company LLC grew its position in shares of Eli Lilly and Company by 123.3% during the 4th quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock valued at $39,000 after acquiring an additional 37 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Lilly Endowment Inc sold 1,441 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $915.02, for a total transaction of $1,318,543.82. Following the completion of the transaction, the insider now owns 97,367,369 shares in the company, valued at $89,093,089,982.38. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Lilly Endowment Inc sold 1,441 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $915.02, for a total transaction of $1,318,543.82. Following the completion of the transaction, the insider now owns 97,367,369 shares in the company, valued at $89,093,089,982.38. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total transaction of $614,602.50. Following the transaction, 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 791,145 shares of company stock worth $673,704,508 over the last 90 days. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LLY. BMO Capital Markets raised their target price 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. TheStreet raised shares of Eli Lilly and Company from a “c+” rating to a “b” rating in a research note on Friday, March 8th. The Goldman Sachs Group raised their price target on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Jefferies Financial Group raised their target price on shares of Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Finally, Citigroup raised their target price on shares of 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. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $812.72.

Eli Lilly and Company Stock Up 1.0 %

Eli Lilly and Company stock opened at $914.37 on Tuesday. Eli Lilly and Company has a fifty-two week low of $434.34 and a fifty-two week high of $916.83. 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 has a 50 day moving average price of $814.40 and a 200 day moving average price of $740.86. The company has a market capitalization of $869.03 billion, a PE ratio of 134.66, a price-to-earnings-growth ratio of 1.97 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last posted 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. 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 net margin of 17.08% and a return on equity of 56.98%. The company’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.62 earnings per share. Research analysts expect that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be paid a $1.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.57%. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

Eli Lilly and 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.