Plimoth Trust Co. LLC Trims Holdings in Eli Lilly and Company (NYSE:LLY)

Plimoth Trust Co. LLC lowered its position in shares of Eli Lilly and Company (NYSE:LLY) by 6.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,568 shares of the company’s stock after selling 484 shares during the quarter. Eli Lilly and Company accounts for about 1.4% of Plimoth Trust Co. LLC’s investment portfolio, making the stock its 20th largest position. Plimoth Trust Co. LLC’s holdings in Eli Lilly and Company were worth $5,110,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Lipe & Dalton bought a new position in Eli Lilly and Company in the 4th quarter worth approximately $26,000. Core Wealth Advisors Inc. boosted its position in shares of Eli Lilly and Company by 188.2% during the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after acquiring an additional 32 shares during the last quarter. Tidemark LLC purchased a new position in Eli Lilly and Company during the fourth quarter valued at $29,000. Frank Rimerman Advisors LLC bought a new stake in Eli Lilly and Company in the 4th quarter valued at $37,000. Finally, St. Johns Investment Management Company LLC lifted its stake in Eli Lilly and Company by 123.3% in the 4th quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock worth $39,000 after purchasing an additional 37 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on LLY shares. JPMorgan Chase & Co. raised their price objective on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $885.00 price objective on shares of Eli Lilly and Company in a report on Monday. The Goldman Sachs Group increased their target price on Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Citigroup boosted their price target on shares of Eli Lilly and Company from $675.00 to $895.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Finally, Bank of America reiterated a “buy” rating and set a $1,000.00 price objective on shares of Eli Lilly and Company in a research report on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $812.72.

Insider Buying and Selling at Eli Lilly and Company

In related news, major shareholder Lilly Endowment Inc sold 92,563 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $809.21, for a total value of $74,902,905.23. Following the transaction, the insider now directly owns 98,556,247 shares of the company’s stock, valued at approximately $79,752,700,634.87. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Johna Norton sold 7,056 shares of the firm’s 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 sale, the executive vice president now owns 25,428 shares of the company’s stock, valued at approximately $20,835,194.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Lilly Endowment Inc sold 92,563 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $809.21, for a total transaction of $74,902,905.23. Following the completion of the transaction, the insider now owns 98,556,247 shares of the company’s stock, valued at approximately $79,752,700,634.87. The disclosure for this sale can be found here. In the last quarter, insiders have sold 858,742 shares of company stock worth $735,573,781. 0.13% of the stock is owned by corporate insiders.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock opened at $898.10 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $853.56 billion, a PE ratio of 132.27, a price-to-earnings-growth ratio of 1.98 and a beta of 0.41. The stock’s fifty day moving average is $821.29 and its two-hundred day moving average is $745.62. Eli Lilly and Company has a 52 week low of $434.34 and a 52 week high of $918.50.

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

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be paid 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 is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 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.