Gotham Asset Management LLC Decreases Position in Eli Lilly and Company (NYSE:LLY)

Gotham Asset Management LLC lessened its holdings in Eli Lilly and Company (NYSE:LLY) by 32.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,779 shares of the company’s stock after selling 2,736 shares during the quarter. Gotham Asset Management LLC’s holdings in Eli Lilly and Company were worth $4,461,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FPC Investment Advisory Inc. grew its holdings in shares of Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after buying an additional 43 shares during the last quarter. Prudent Man Investment Management Inc. purchased a new stake in Eli Lilly and Company during the 4th quarter valued at about $48,000. Compass Financial Services Inc purchased a new stake in Eli Lilly and Company during the 4th quarter valued at about $50,000. Fiduciary Advisors Inc. acquired a new position in shares of Eli Lilly and Company in the fourth quarter valued at about $58,000. Finally, Bellwether Advisors LLC purchased a new position in shares of Eli Lilly and Company in the fourth quarter worth about $66,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Down 4.0%

Eli Lilly and Company stock opened at $716.19 on Thursday. The stock has a market capitalization of $678.76 billion, a PE ratio of 61.16, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. The business has a 50 day simple moving average of $801.10 and a 200-day simple moving average of $808.28. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results 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). The company had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. Eli Lilly and Company’s revenue was up 45.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.58 EPS. On average, analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be paid a dividend of $1.50 per share. The ex-dividend date is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.84%. Eli Lilly and Company’s dividend payout ratio is currently 48.82%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Morgan Stanley reiterated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. UBS Group dropped their price objective on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price objective on the stock. StockNews.com upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. Finally, Leerink Partners set a $950.00 price target on shares of Eli Lilly and Company in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,011.37.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction that occurred on 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 of the company’s stock, valued at $4,778,521.60. The trade was a 14.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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.