Fullerton Fund Management Co Ltd. Sells 4,828 Shares of Eli Lilly and Company (NYSE:LLY)

Fullerton Fund Management Co Ltd. lowered its stake in Eli Lilly and Company (NYSE:LLY) by 13.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,202 shares of the company’s stock after selling 4,828 shares during the period. Eli Lilly and Company makes up approximately 0.8% of Fullerton Fund Management Co Ltd.’s holdings, making the stock its 29th largest holding. Fullerton Fund Management Co Ltd.’s holdings in Eli Lilly and Company were worth $24,088,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of LLY. Knightsbridge Asset Management LLC grew 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 worth $628,000 after purchasing an additional 15 shares during the last quarter. Centerpoint Advisory Group purchased a new position in shares of Eli Lilly and Company during the fourth quarter valued at approximately $514,000. Kentucky Trust Co bought a new position in shares of Eli Lilly and Company during the fourth quarter valued at approximately $834,000. CSM Advisors LLC lifted its stake in Eli Lilly and Company by 30.6% in the fourth quarter. CSM Advisors LLC now owns 1,045 shares of the company’s stock worth $807,000 after acquiring an additional 245 shares during the period. Finally, Proficio Capital Partners LLC boosted its holdings in 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 in the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Down 2.0 %

LLY opened at $736.21 on Friday. The stock has a market capitalization of $697.73 billion, a price-to-earnings ratio of 62.87, a PEG ratio of 1.40 and a beta of 0.48. The firm has a 50 day moving average price of $810.98 and a 200-day moving average price of $811.52. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. 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 (NYSE:LLY) last announced its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share 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 analysts’ expectations 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 quarterly revenue was up 45.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.58 earnings per share. Equities research 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 company also recently declared 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. The ex-dividend date 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 currently 48.82%.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s 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 completion of the sale, the chief accounting officer now 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on LLY. Truist Financial upped their price objective on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Guggenheim restated a “buy” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Berenberg Bank set a $970.00 target price on Eli Lilly and Company in a report on Thursday, January 16th. Leerink Partners set a $950.00 target price on Eli Lilly and Company in a research note on Friday, January 17th. Finally, Cantor Fitzgerald started coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and a consensus price target of $1,002.80.

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.