Fred Alger Management LLC Lowers Holdings in Eli Lilly and Company (NYSE:LLY)

Fred Alger Management LLC trimmed its stake in Eli Lilly and Company (NYSE:LLY) by 34.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 172,251 shares of the company’s stock after selling 88,546 shares during the quarter. Eli Lilly and Company accounts for 0.6% of Fred Alger Management LLC’s portfolio, making the stock its 26th biggest holding. Fred Alger Management LLC’s holdings in Eli Lilly and Company were worth $132,978,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Highline Wealth Partners LLC lifted its position in Eli Lilly and Company by 80.0% in the 4th quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock valued at $35,000 after acquiring an additional 20 shares in the last quarter. FPC Investment Advisory Inc. raised its stake in shares of Eli Lilly and Company by 358.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after purchasing an additional 43 shares during the last quarter. Prudent Man Investment Management Inc. bought a new position in shares of Eli Lilly and Company during the fourth quarter valued at $48,000. Compass Financial Services Inc purchased a new stake in shares of Eli Lilly and Company during the fourth quarter valued at $50,000. Finally, Fiduciary Advisors Inc. bought a new stake in Eli Lilly and Company in the 4th quarter worth about $58,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 0.2 %

Shares of LLY opened at $776.94 on Thursday. The business’s 50 day moving average is $818.04 and its 200 day moving average is $813.77. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53. The company has a market capitalization of $736.33 billion, a PE ratio of 66.35, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $12.77 billion. During the same period last year, the business earned $2.58 earnings per share. The company’s quarterly revenue was up 45.2% compared to the same quarter last year. Research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Friday, May 16th. Eli Lilly and Company’s payout ratio is currently 48.82%.

Insider Buying and Selling at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. The trade was a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on LLY shares. Berenberg Bank set a $970.00 target price on shares of Eli Lilly and Company in a research note on Thursday, January 16th. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, February 7th. Citigroup cut their target price on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Wells Fargo & Company reissued an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, Guggenheim reaffirmed a “buy” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. One investment 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,002.80.

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.