Main Management ETF Advisors LLC Sells 64 Shares of Eli Lilly and Company (NYSE:LLY)

Main Management ETF Advisors LLC decreased its stake in shares of Eli Lilly and Company (NYSE:LLY) by 8.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 712 shares of the company’s stock after selling 64 shares during the quarter. Main Management ETF Advisors LLC’s holdings in Eli Lilly and Company were worth $550,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Knightsbridge Asset Management LLC raised its stake in shares of Eli Lilly and Company by 1.9% in the fourth quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company’s stock valued at $628,000 after acquiring an additional 15 shares during the period. Centerpoint Advisory Group purchased a new stake in shares of Eli Lilly and Company in the fourth quarter valued at $514,000. Kentucky Trust Co purchased a new stake in shares of Eli Lilly and Company in the fourth quarter valued at $834,000. CSM Advisors LLC raised its stake in shares of Eli Lilly and Company by 30.6% in the fourth quarter. CSM Advisors LLC now owns 1,045 shares of the company’s stock valued at $807,000 after acquiring an additional 245 shares during the period. Finally, Proficio Capital Partners LLC raised its stake in shares of Eli Lilly and Company by 30.2% in the fourth quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company’s stock valued at $5,202,000 after acquiring an additional 1,562 shares during the period. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 4.0%

LLY stock opened at $716.19 on Thursday. 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 has a 52 week low of $677.09 and a 52 week high of $972.53. The firm has a 50 day moving average of $801.10 and a 200 day moving average of $808.28. 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 (NYSE:LLY) last announced its quarterly earnings data on Thursday, May 1st. The company reported $3.34 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 business had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. During the same quarter in the previous year, the firm posted $2.58 earnings per share. The business’s revenue was up 45.2% on a year-over-year basis. Sell-side analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. HSBC downgraded shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and reduced their price target for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Morgan Stanley reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Citigroup reduced their price target on shares of Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Hsbc Global Res downgraded shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research note on Monday, April 28th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and an average price target of $1,011.37.

Insider Buying and Selling at Eli Lilly and Company

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 shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.

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.