Eli Lilly and Company (NYSE:LLY) Position Cut by Concord Wealth Partners

Concord Wealth Partners lowered its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 29.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,803 shares of the company's stock after selling 1,610 shares during the quarter. Concord Wealth Partners' holdings in Eli Lilly and Company were worth $3,141,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. WestEnd Advisors LLC lifted its holdings in Eli Lilly and Company by 210.0% during the first 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 position in shares of Eli Lilly and Company by 180.0% in the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after buying an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of Eli Lilly and Company in the first quarter valued at about $40,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at about $43,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at about $48,000. Institutional investors and hedge funds own 82.53% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on LLY shares. Hsbc Global Res cut shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. 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 for the company in a research report on Friday, May 2nd. Wall Street Zen cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price target for the company. Finally, The Goldman Sachs Group upgraded shares of 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company has an average rating of "Moderate Buy" and a consensus price target of $1,012.56.

Eli Lilly and Company Stock Performance

LLY stock traded up $10.28 on Friday, hitting $771.78. The company's stock had a trading volume of 3,351,657 shares, compared to its average volume of 3,664,913. 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 $731.45 billion, a price-to-earnings ratio of 62.80, a price-to-earnings-growth ratio of 1.11 and a beta of 0.40. The firm has a 50 day moving average of $767.03 and a two-hundred day moving average of $799.83. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. During the same period last year, the company earned $2.58 earnings per share. The business's revenue for the quarter was up 45.2% compared to the same quarter last year. Equities analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.78%. Eli Lilly and Company's dividend payout ratio is presently 48.82%.

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.