McGowan Group Asset Management Inc. Reduces Stock Position in Eli Lilly and Company (NYSE:LLY)

McGowan Group Asset Management Inc. decreased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 0.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,778 shares of the company’s stock after selling 24 shares during the quarter. Eli Lilly and Company comprises 2.3% of McGowan Group Asset Management Inc.’s holdings, making the stock its 11th largest position. McGowan Group Asset Management Inc.’s holdings in Eli Lilly and Company were worth $16,814,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LLY. RMR Wealth Builders boosted its stake in Eli Lilly and Company by 2.3% during the fourth quarter. RMR Wealth Builders now owns 4,686 shares of the company’s stock worth $3,618,000 after buying an additional 107 shares during the period. Czech National Bank lifted its holdings in shares of Eli Lilly and Company by 6.3% in the 4th quarter. Czech National Bank now owns 170,840 shares of the company’s stock worth $131,888,000 after acquiring an additional 10,143 shares during the last quarter. Aprio Wealth Management LLC boosted its position in shares of Eli Lilly and Company by 10.8% during the 4th quarter. Aprio Wealth Management LLC now owns 2,627 shares of the company’s stock worth $2,028,000 after purchasing an additional 257 shares during the period. Matrix Trust Co purchased a new position in shares of Eli Lilly and Company during the 4th quarter worth approximately $164,000. Finally, City Center Advisors LLC increased its holdings in Eli Lilly and Company by 5.4% in the 4th quarter. City Center Advisors LLC now owns 565 shares of the company’s stock valued at $436,000 after purchasing an additional 29 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Ratings Changes

LLY has been the topic of a number of research reports. Leerink Partners set a $950.00 price target on Eli Lilly and Company in a research note on Friday, January 17th. Citigroup lowered their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. HSBC downgraded Eli Lilly and Company from a “buy” rating to a “reduce” rating and dropped their target price for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. The Goldman Sachs Group raised shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. Finally, Hsbc Global Res cut shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,002.80.

Eli Lilly and Company Trading Up 2.8%

LLY opened at $755.28 on Tuesday. The firm has a market cap of $715.80 billion, a price-to-earnings ratio of 64.50, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The business’s 50 day moving average is $807.49 and its two-hundred day moving average is $809.36. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The company had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same quarter last year, the firm earned $2.58 EPS. The business’s revenue was up 45.2% on a year-over-year basis. On average, research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be issued a $1.50 dividend. The ex-dividend date is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.79%. Eli Lilly and Company’s dividend payout ratio is presently 48.82%.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the sale, the chief accounting officer now owns 5,840 shares in the company, valued at approximately $4,778,521.60. This represents a 14.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.13% of the company’s stock.

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.