Driehaus Capital Management LLC Sells 223 Shares of Eli Lilly and Company (NYSE:LLY)

Driehaus Capital Management LLC cut its stake in Eli Lilly and Company (NYSE:LLY) by 18.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 967 shares of the company’s stock after selling 223 shares during the period. Driehaus Capital Management LLC’s holdings in Eli Lilly and Company were worth $747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LLY. HSBC cut Eli Lilly and Company from a “buy” rating to a “reduce” rating and lowered their price target for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. Guggenheim reissued a “buy” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Berenberg Bank set a $970.00 price target on shares of Eli Lilly and Company in a research report on Thursday, January 16th. Morgan Stanley reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, Wells Fargo & Company restated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,002.80.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $736.21 on Friday. The firm’s 50 day moving average price is $810.98 and its two-hundred day moving average price is $810.88. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The stock has a market cap of $697.73 billion, a PE ratio of 62.87, a PEG 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 analysts’ consensus estimates of $4.64 by ($1.30). The company had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The firm’s revenue for the quarter was up 45.2% on a year-over-year basis. During the same period last year, the firm earned $2.58 earnings per share. As a group, analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.81%. Eli Lilly and Company’s dividend payout ratio is 48.82%.

Insider Buying and Selling

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the transaction, 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 legal filing with the SEC, which is accessible through this link. 0.14% of the stock is owned by insiders.

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.