1ST Source Bank Reduces Holdings in Eli Lilly and Company (NYSE:LLY)

1ST Source Bank reduced its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 2.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,017 shares of the company's stock after selling 770 shares during the quarter. Eli Lilly and Company makes up approximately 1.7% of 1ST Source Bank's holdings, making the stock its 11th largest holding. 1ST Source Bank's holdings in Eli Lilly and Company were worth $28,921,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of LLY. Knightsbridge Asset Management LLC raised its position in shares of Eli Lilly and Company by 1.9% during the 4th quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock valued at $628,000 after acquiring an additional 15 shares during the last quarter. LS Investment Advisors LLC grew its holdings in shares of Eli Lilly and Company by 1.7% in the 1st quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock valued at $1,933,000 after buying an additional 40 shares during the period. Prism Advisors Inc. acquired a new position in shares of Eli Lilly and Company in the 1st quarter valued at $207,000. CSM Advisors LLC grew its holdings in shares of Eli Lilly and Company by 30.6% in the 4th quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock valued at $807,000 after buying an additional 245 shares during the period. Finally, Bfsg LLC boosted its stake in Eli Lilly and Company by 1.4% in the 1st quarter. Bfsg LLC now owns 2,959 shares of the company's stock worth $2,444,000 after purchasing an additional 42 shares during the period. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LLY. Guggenheim increased their price objective on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Morgan Stanley reissued an "overweight" rating and issued a $1,135.00 price target (up from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. HSBC cut shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their price target for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. UBS Group lowered their price target 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. Finally, The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their price target for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Eli Lilly and Company presently has an average rating of "Moderate Buy" and an average target price of $1,012.56.

Eli Lilly and Company Stock Up 1.3%

Shares of NYSE:LLY traded up $10.28 during midday trading on Friday, hitting $771.78. 3,351,657 shares of the company's stock were exchanged, compared to its average volume of 3,664,442. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. The stock has a 50 day moving average price of $767.03 and a 200-day moving average price of $800.02. The company has a market cap of $731.45 billion, a PE ratio of 62.80, a price-to-earnings-growth ratio of 1.12 and a beta of 0.40. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released 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 firm 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 85.51% and a net margin of 22.67%. The firm's revenue for the quarter was up 45.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.58 earnings per share. On average, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th 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, August 15th. Eli Lilly and Company's payout ratio is currently 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.