Castleark Management LLC Reduces Stock Position in Eli Lilly and Company $LLY

Castleark Management LLC decreased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 42.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,168 shares of the company’s stock after selling 33,524 shares during the quarter. Eli Lilly and Company makes up approximately 1.1% of Castleark Management LLC’s portfolio, making the stock its 20th biggest position. Castleark Management LLC’s holdings in Eli Lilly and Company were worth $35,989,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Braun Bostich & Associates Inc. raised its position in Eli Lilly and Company by 2.5% in the 2nd quarter. Braun Bostich & Associates Inc. now owns 527 shares of the company’s stock valued at $411,000 after purchasing an additional 13 shares during the last quarter. Rise Advisors LLC raised its stake in shares of Eli Lilly and Company by 1.8% during the 2nd quarter. Rise Advisors LLC now owns 732 shares of the company’s stock worth $571,000 after buying an additional 13 shares in the last quarter. Occidental Asset Management LLC boosted its position in shares of Eli Lilly and Company by 0.7% during the 2nd quarter. Occidental Asset Management LLC now owns 1,966 shares of the company’s stock worth $1,533,000 after purchasing an additional 13 shares in the last quarter. New Insight Wealth Advisors grew its position in Eli Lilly and Company by 3.4% during the second quarter. New Insight Wealth Advisors now owns 394 shares of the company’s stock worth $307,000 after buying an additional 13 shares during the period. Finally, Dash Acquisitions Inc. increased its stake in Eli Lilly and Company by 2.8% in the 2nd quarter. Dash Acquisitions Inc. now owns 485 shares of the company’s stock valued at $387,000 after purchasing an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 1.8%

Shares of NYSE:LLY opened at $1,027.68 on Friday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.24 and a current ratio of 1.55. The company’s fifty day moving average is $939.47 and its two-hundred day moving average is $819.64. Eli Lilly and Company has a 1-year low of $623.78 and a 1-year high of $1,111.99. The stock has a market capitalization of $971.55 billion, a price-to-earnings ratio of 50.28, a price-to-earnings-growth ratio of 1.14 and a beta of 0.37.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings results on Thursday, October 30th. The company reported $7.02 earnings per share for the quarter, topping analysts’ consensus estimates of $6.42 by $0.60. The business had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $16.09 billion. Eli Lilly and Company had a return on equity of 109.52% and a net margin of 30.99%.The business’s quarterly revenue was up 53.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.18 EPS. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. Equities analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 13th will be issued a $1.73 dividend. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Friday, February 13th. This represents a $6.92 dividend on an annualized basis and a yield of 0.7%. Eli Lilly and Company’s dividend payout ratio is currently 29.35%.

Wall Street Analysts Forecast Growth

LLY has been the topic of several recent research reports. Erste Group Bank raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Tuesday, October 14th. CICC Research upped their price target on shares of Eli Lilly and Company from $801.00 to $1,060.00 and gave the stock a “neutral” rating in a research report on Thursday, November 13th. Wolfe Research boosted their target price on Eli Lilly and Company from $1,050.00 to $1,250.00 and gave the stock an “outperform” rating in a report on Wednesday, December 3rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Eli Lilly and Company in a research report on Tuesday. Finally, Scotiabank began coverage on shares of Eli Lilly and Company in a research note on Thursday, November 13th. They issued a “sector outperform” rating and a $1,165.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,121.90.

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.