Bridge Creek Capital Management LLC Cuts Holdings in Eli Lilly and Company (NYSE:LLY)

Bridge Creek Capital Management LLC lowered its holdings in Eli Lilly and Company (NYSE:LLY) by 6.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,165 shares of the company’s stock after selling 160 shares during the quarter. Bridge Creek Capital Management LLC’s holdings in Eli Lilly and Company were worth $1,960,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Lipe & Dalton purchased a new position in shares of Eli Lilly and Company in the 4th quarter valued at about $26,000. Tidemark LLC purchased a new position in shares of Eli Lilly and Company in the 4th quarter valued at about $29,000. Core Wealth Advisors Inc. increased its holdings in shares of Eli Lilly and Company by 188.2% in the 4th quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock valued at $29,000 after acquiring an additional 32 shares during the last quarter. Lynx Investment Advisory purchased a new position in shares of Eli Lilly and Company in the 2nd quarter valued at about $32,000. Finally, Frank Rimerman Advisors LLC purchased a new position in shares of Eli Lilly and Company in the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

Shares of LLY traded down $7.30 during mid-day trading on Monday, hitting $884.38. The company’s stock had a trading volume of 4,109,620 shares, compared to its average volume of 3,096,747. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The firm has a 50-day simple moving average of $871.07 and a 200 day simple moving average of $796.61. The firm has a market capitalization of $840.52 billion, a P/E ratio of 131.32, a P/E/G ratio of 1.81 and a beta of 0.41. Eli Lilly and Company has a 1-year low of $516.57 and a 1-year high of $966.10.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a $1.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.59%. Eli Lilly and Company’s dividend payout ratio is currently 76.58%.

Analyst Ratings Changes

A number of analysts recently issued reports on LLY shares. Jefferies Financial Group upped their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a research report on Monday, August 5th. Barclays upped their target price on Eli Lilly and Company from $913.00 to $1,025.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Bank of America upped their target price on Eli Lilly and Company from $1,000.00 to $1,125.00 and gave the company a “buy” rating in a research report on Friday. Finally, Wells Fargo & Company upped their target price on Eli Lilly and Company from $875.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Friday. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Eli Lilly and Company has an average rating of “Moderate Buy” and an average price target of $945.35.

Insider Activity

In other news, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total value of $1,660,068.00. Following the completion of the sale, the insider now directly owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Lilly Endowment Inc sold 2,052 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $809.00, for a total value of $1,660,068.00. Following the completion of the transaction, the insider now directly owns 98,554,195 shares of the company’s stock, valued at approximately $79,730,343,755. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the transaction, the chief accounting officer now directly owns 7,130 shares of the company’s stock, valued at $5,842,821.10. The disclosure for this sale can be found here. Insiders sold 1,214,704 shares of company stock valued at $1,066,841,316 in the last three months. 0.13% of the stock is currently owned by company insiders.

Eli Lilly and Company 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.