Allspring Global Investments Holdings LLC Sells 3,901 Shares of Eli Lilly and Company (NYSE:LLY)

Allspring Global Investments Holdings LLC reduced its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 3.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 123,655 shares of the company's stock after selling 3,901 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Eli Lilly and Company were worth $99,571,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mascagni Wealth Management Inc. bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $43,000. Prudent Man Investment Management Inc. bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $48,000. Highline Wealth Partners LLC grew its position in shares of Eli Lilly and Company by 53.3% in the 1st quarter. Highline Wealth Partners LLC now owns 69 shares of the company's stock worth $57,000 after buying an additional 24 shares during the last quarter. Capital A Wealth Management LLC bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $63,000. Finally, Bellwether Advisors LLC bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $66,000. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Down 2.4%

Shares of NYSE:LLY opened at $776.18 on Friday. The stock has a fifty day simple moving average of $780.19 and a two-hundred day simple moving average of $799.96. The stock has a market capitalization of $735.61 billion, a price-to-earnings ratio of 63.16, a PEG ratio of 1.13 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. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced 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 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 22.67% and a return on equity of 85.51%. The firm's quarterly revenue was up 45.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.58 EPS. On average, research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share 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. Stockholders of record on Friday, August 15th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is currently 48.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Saturday. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their price target for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. Morgan Stanley restated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price target on the stock. Finally, Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $1,011.61.

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.

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