Chronos Wealth Management LLC Sells 1,277 Shares of Eli Lilly and Company (NYSE:LLY)

Chronos Wealth Management LLC lowered its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 5.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 21,785 shares of the company's stock after selling 1,277 shares during the quarter. Eli Lilly and Company comprises approximately 9.6% of Chronos Wealth Management LLC's holdings, making the stock its largest holding. Chronos Wealth Management LLC's holdings in Eli Lilly and Company were worth $17,992,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Long Run Wealth Advisors LLC purchased a new stake in Eli Lilly and Company during the 1st quarter worth $232,000. GenWealth Group Inc. acquired a new position in shares of Eli Lilly and Company in the 1st quarter worth approximately $231,000. TruWealth Advisors LLC increased its holdings in shares of Eli Lilly and Company by 2.7% in the 1st quarter. TruWealth Advisors LLC now owns 32,082 shares of the company's stock valued at $26,496,000 after acquiring an additional 851 shares during the last quarter. Wealth Alliance Advisory Group LLC raised its holdings in shares of Eli Lilly and Company by 1.5% during the first quarter. Wealth Alliance Advisory Group LLC now owns 4,650 shares of the company's stock worth $3,840,000 after purchasing an additional 68 shares during the period. Finally, Granite Bay Wealth Management LLC lifted its holdings in Eli Lilly and Company by 7.1% in the first quarter. Granite Bay Wealth Management LLC now owns 364 shares of the company's stock worth $301,000 after acquiring an additional 24 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Analyst Ratings Changes

LLY has been the subject of several analyst reports. The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and reduced their price target for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday. Guggenheim reiterated a "buy" rating on shares of Eli Lilly and Company in a research report on Friday, May 23rd. Morgan Stanley reissued an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $1,011.37.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the sale, the chief accounting officer now owns 5,840 shares of the company's stock, valued at $4,778,521.60. This represents a 14.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.13% of the company's stock.

Eli Lilly and Company Trading Down 0.1%

Shares of Eli Lilly and Company stock traded down $0.71 on Thursday, reaching $765.13. 3,632,853 shares of the company were exchanged, compared to its average volume of 3,644,547. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The firm has a market capitalization of $725.14 billion, a price-to-earnings ratio of 65.34, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The stock has a fifty day moving average price of $772.75 and a 200-day moving average price of $799.41.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted 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). The firm had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The company's revenue for the quarter was up 45.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.58 EPS. On average, analysts expect 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 Tuesday, June 10th. Investors of record on Friday, May 16th will be paid a $1.50 dividend. The ex-dividend date is Friday, May 16th. This represents a $6.00 annualized dividend and a dividend yield of 0.78%. Eli Lilly and Company's payout ratio is 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.