Sherman Asset Management Inc. Lowers Holdings in Eli Lilly and Company (NYSE:LLY)

Sherman Asset Management Inc. lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 85.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 865 shares of the company’s stock after selling 5,150 shares during the period. Eli Lilly and Company accounts for about 0.7% of Sherman Asset Management Inc.’s investment portfolio, making the stock its 27th largest position. Sherman Asset Management Inc.’s holdings in Eli Lilly and Company were worth $715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of LLY. Mascagni Wealth Management Inc. purchased a new position in shares of Eli Lilly and Company in the fourth quarter worth about $43,000. FPC Investment Advisory Inc. grew 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 during the period. Prudent Man Investment Management Inc. acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $48,000. Compass Financial Services Inc purchased a new stake in shares of Eli Lilly and Company during the 4th quarter valued at approximately $50,000. Finally, Capital A Wealth Management LLC purchased a new position in Eli Lilly and Company in the fourth quarter worth approximately $63,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Insider Activity

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the company’s 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 completion of the transaction, the chief accounting officer now owns 5,840 shares in the company, valued at $4,778,521.60. This represents a 14.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on LLY. Morgan Stanley reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Guggenheim restated a “buy” rating on shares of Eli Lilly and Company in a report on Friday, May 23rd. Wall Street Zen upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Saturday. Cantor Fitzgerald began coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 target price for the company. Finally, UBS Group cut 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,011.37.

Eli Lilly and Company Stock Performance

Shares of LLY opened at $770.00 on Monday. The company’s 50 day simple moving average is $770.87 and its 200 day simple moving average is $800.63. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The company has a market capitalization of $729.76 billion, a price-to-earnings ratio of 65.76, a PEG ratio of 1.40 and a beta of 0.40. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53.

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

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Friday, May 16th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 48.82%.

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.