AMI Asset Management Corp Sells 2,084 Shares of Eli Lilly and Company (NYSE:LLY)

AMI Asset Management Corp decreased its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 3.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 67,567 shares of the company's stock after selling 2,084 shares during the quarter. Eli Lilly and Company accounts for about 3.3% of AMI Asset Management Corp's investment portfolio, making the stock its 10th largest holding. AMI Asset Management Corp's holdings in Eli Lilly and Company were worth $55,804,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of LLY. Mascagni Wealth Management Inc. acquired a new stake in Eli Lilly and Company during the 4th quarter valued at $43,000. Prudent Man Investment Management Inc. purchased a new position in shares of Eli Lilly and Company during the fourth quarter valued at $48,000. Highline Wealth Partners LLC raised its position in Eli Lilly and Company by 53.3% during the first quarter. Highline Wealth Partners LLC now owns 69 shares of the company's stock valued at $57,000 after buying an additional 24 shares during the period. Capital A Wealth Management LLC acquired a new position in Eli Lilly and Company during the fourth quarter valued at $63,000. Finally, Bellwether Advisors LLC acquired a new stake in Eli Lilly and Company during the 4th quarter worth about $66,000. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Down 2.4%

NYSE LLY traded down $18.94 during trading on Friday, hitting $776.18. 4,109,419 shares of the company traded hands, compared to its average volume of 3,675,428. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. The business has a fifty day simple moving average of $781.50 and a 200 day simple moving average of $800.11. The company has a market capitalization of $735.61 billion, a P/E ratio of 63.16, a PEG ratio of 1.16 and a beta of 0.40. 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 issued its quarterly earnings data on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The company had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. During the same period in the prior year, the company posted $2.58 EPS. The business's revenue was up 45.2% on a year-over-year basis. As a group, sell-side analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is 48.82%.

Wall Street Analysts Forecast Growth

LLY has been the topic of several research analyst reports. Guggenheim reiterated a "buy" rating and issued a $936.00 target price on shares of Eli Lilly and Company in a report on Friday, June 20th. Wall Street Zen raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 target price for the company. Hsbc Global Res lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. Finally, UBS Group dropped 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 research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,011.61.

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.