Columbia Asset Management Sells 343 Shares of Eli Lilly and Company (NYSE:LLY)

Columbia Asset Management trimmed its position in shares of Eli Lilly and Company (NYSE:LLY) by 4.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 7,729 shares of the company’s stock after selling 343 shares during the quarter. Eli Lilly and Company comprises about 1.2% of Columbia Asset Management’s investment portfolio, making the stock its 18th largest position. Columbia Asset Management’s holdings in Eli Lilly and Company were worth $6,383,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Eli Lilly and Company by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company’s stock worth $57,320,226,000 after buying an additional 475,530 shares in the last quarter. Geode Capital Management LLC grew its holdings in Eli Lilly and Company by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company’s stock worth $13,389,651,000 after purchasing an additional 291,875 shares during the period. GAMMA Investing LLC grew its holdings in Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock worth $12,278,292,000 after purchasing an additional 14,852,076 shares during the period. Wellington Management Group LLP grew its holdings in Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock worth $9,747,214,000 after purchasing an additional 2,012,129 shares during the period. Finally, Norges Bank purchased a new stake in Eli Lilly and Company in the fourth quarter worth about $8,407,908,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Trading Up 2.1%

Shares of Eli Lilly and Company stock opened at $766.78 on Thursday. The company’s fifty day simple moving average is $772.75 and its 200-day simple moving average is $799.41. The stock has a market capitalization of $726.71 billion, a PE ratio of 65.48, a P/E/G ratio of 1.40 and a beta of 0.48. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. 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 issued its quarterly earnings results 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). The business had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.77 billion. Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The company’s revenue was up 45.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.58 EPS. As a group, equities analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend 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 48.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Hsbc Global Res cut shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. 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. Wells Fargo & Company restated an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Wall Street Zen upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, May 30th. Finally, Guggenheim restated a “buy” rating on shares of Eli Lilly and Company in a report on Friday, May 23rd. 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,011.37.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction 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 transaction, the chief accounting officer now owns 5,840 shares in the company, valued at approximately $4,778,521.60. The trade was a 14.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is owned by corporate 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.