Concord Asset Management LLC VA Sells 1,879 Shares of Eli Lilly and Company (NYSE:LLY)

Concord Asset Management LLC VA decreased its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 38.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,038 shares of the company's stock after selling 1,879 shares during the quarter. Concord Asset Management LLC VA's holdings in Eli Lilly and Company were worth $2,520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WestEnd Advisors LLC increased its stake in Eli Lilly and Company by 210.0% during the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after purchasing an additional 21 shares in the last quarter. 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. bought a new stake in shares of Eli Lilly and Company in the first quarter valued at $40,000. Mascagni Wealth Management Inc. bought a new stake in Eli Lilly and Company in the 4th quarter valued at about $43,000. Finally, Prudent Man Investment Management Inc. bought a new stake in shares of Eli Lilly and Company in the fourth quarter valued at approximately $48,000. Institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Up 2.2%

Shares of NYSE LLY traded up $17.16 during trading on Wednesday, reaching $788.91. The company had a trading volume of 3,254,125 shares, compared to its average volume of 3,682,454. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18. The business's 50-day moving average is $766.12 and its 200 day moving average is $799.91. The stock has a market cap of $747.68 billion, a PE ratio of 64.19, a P/E/G ratio of 1.12 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings results 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%. The business's revenue for the quarter was up 45.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.58 EPS. As a group, equities analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is currently 48.82%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their price objective for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. Wall Street Zen cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. Erste Group Bank cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, UBS Group cut their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. One investment 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,012.56.

Eli Lilly and Company 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.