Colonial River Investments LLC Reduces Holdings in Eli Lilly and Company (NYSE:LLY)

Colonial River Investments LLC decreased its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 55.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 888 shares of the company's stock after selling 1,122 shares during the period. Colonial River Investments LLC's holdings in Eli Lilly and Company were worth $733,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mascagni Wealth Management Inc. purchased a new stake in Eli Lilly and Company during the 4th quarter worth $43,000. Prudent Man Investment Management Inc. purchased a new stake in Eli Lilly and Company during the 4th quarter worth $48,000. Highline Wealth Partners LLC increased 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 purchasing 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 about $63,000. Finally, Bellwether Advisors LLC bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $66,000. Hedge funds and other institutional investors own 82.53% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on LLY shares. The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. HSBC downgraded shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their target price for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Hsbc Global Res downgraded shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. 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. Finally, Guggenheim reissued a "buy" rating and issued a $936.00 target price on shares of Eli Lilly and Company in a research report on Friday, June 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,011.61.

Eli Lilly and Company Price Performance

NYSE LLY opened at $776.18 on Monday. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week 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. The stock has a market cap of $735.61 billion, a price-to-earnings ratio of 63.16, a price-to-earnings-growth ratio of 1.13 and a beta of 0.41. The company has a 50-day moving average price of $780.19 and a two-hundred day moving average price of $800.08.

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

Eli Lilly and Company Announces Dividend

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

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.

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