Connable Office Inc. Sells 939 Shares of Eli Lilly and Company (NYSE:LLY)

Key Points

• Connable Office Inc. sold 939 shares of Eli Lilly and Company, reducing its holdings by 17.0% to a total of 4,588 shares valued at approximately $3.79 million.
• Analysts have varying opinions on Eli Lilly, with UBS Group lowering its price target from $1,100 to $1,050, while others, like Wall Street Zen, upgraded their rating from "hold" to "buy".
• Eli Lilly and Company reported a quarterly earnings miss with an EPS of $3.34, which was below the consensus estimate of $4.64; however, the firm's revenue increased by 45.2% year-over-year to $12.73 billion.

Connable Office Inc. trimmed its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 17.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,588 shares of the company's stock after selling 939 shares during the period. Connable Office Inc.'s holdings in Eli Lilly and Company were worth $3,789,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Earned Wealth Advisors LLC raised its position in shares of Eli Lilly and Company by 356.5% in the first quarter. Earned Wealth Advisors LLC now owns 2,689 shares of the company's stock worth $2,221,000 after buying an additional 2,100 shares in the last quarter. SGL Investment Advisors Inc. boosted its stake in shares of Eli Lilly and Company by 30.8% in the 1st quarter. SGL Investment Advisors Inc. now owns 399 shares of the company's stock valued at $300,000 after purchasing an additional 94 shares in the last quarter. Allianz SE boosted its position in Eli Lilly and Company by 3.5% during the first quarter. Allianz SE now owns 39,201 shares of the company's stock valued at $32,376,000 after buying an additional 1,324 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Eli Lilly and Company by 4.8% during the 1st quarter. Commonwealth Equity Services LLC now owns 377,220 shares of the company's stock valued at $311,550,000 after acquiring an additional 17,344 shares during the period. Finally, Heritage Trust Co grew its holdings in shares of Eli Lilly and Company by 18.5% in the first quarter. Heritage Trust Co now owns 3,023 shares of the company's stock worth $2,497,000 after purchasing an additional 472 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LLY has been the topic of several recent analyst reports. UBS Group cut their target price on 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. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Wall Street Zen upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Guggenheim boosted their price target on Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,012.56.

Eli Lilly and Company Price Performance

NYSE LLY opened at $761.47 on Monday. The stock has a market cap of $721.68 billion, a price-to-earnings ratio of 61.96, a PEG ratio of 1.08 and a beta of 0.44. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. The company's 50 day moving average is $775.51 and its two-hundred day moving average is $800.52. 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 posted its quarterly earnings results 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 return on equity of 85.51% and a net margin of 22.67%. The business had revenue of $12.73 billion during the quarter, compared to analysts' expectations of $12.77 billion. During the same period in the prior year, the firm posted $2.58 earnings per share. The firm's revenue for the quarter was up 45.2% on a year-over-year basis. As a group, research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently announced 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. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is currently 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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