AE Wealth Management LLC Cuts Stake in Eli Lilly and Company (NYSE:LLY)

AE Wealth Management LLC lessened its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 6.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,643 shares of the company's stock after selling 4,564 shares during the quarter. AE Wealth Management LLC's holdings in Eli Lilly and Company were worth $51,739,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. WestEnd Advisors LLC grew its position in Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after buying an additional 21 shares during the period. Citizens National Bank Trust Department raised its holdings in shares of Eli Lilly and Company by 180.0% in the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after purchasing an additional 27 shares during the period. Financial Gravity Asset Management Inc. purchased a new position in Eli Lilly and Company in the first quarter valued at approximately $40,000. Mascagni Wealth Management Inc. bought a new position in Eli Lilly and Company during the fourth quarter valued at $43,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in Eli Lilly and Company in the fourth quarter worth $48,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Up 0.8%

Shares of NYSE:LLY traded up $6.30 during trading on Friday, hitting $811.73. The stock had a trading volume of 2,976,064 shares, compared to its average volume of 2,810,305. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. The company has a market capitalization of $769.30 billion, a PE ratio of 66.05, a PEG ratio of 1.18 and a beta of 0.40. The firm's fifty day moving average is $771.95 and its 200 day moving average is $800.51.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). The firm had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. Eli Lilly and Company's revenue for the quarter was up 45.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.58 EPS. Analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders 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 0.74%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is 48.82%.

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of research reports. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Guggenheim lifted their price objective on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Erste Group Bank downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Cantor Fitzgerald assumed coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price target for the company. Finally, Morgan Stanley reiterated an "overweight" rating and set a $1,135.00 price objective (up from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,012.56.

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.