Corundum Group Inc. Sells 1,673 Shares of Eli Lilly and Company (NYSE:LLY)

Corundum Group Inc. reduced its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 61.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,045 shares of the company's stock after selling 1,673 shares during the quarter. Corundum Group Inc.'s holdings in Eli Lilly and Company were worth $863,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LLY. Knightsbridge Asset Management LLC raised its stake in shares of Eli Lilly and Company by 1.9% in the fourth quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock worth $628,000 after purchasing an additional 15 shares during the last quarter. LS Investment Advisors LLC grew its holdings in Eli Lilly and Company by 1.7% during the first quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock worth $1,933,000 after buying an additional 40 shares in the last quarter. CSM Advisors LLC grew its holdings in Eli Lilly and Company by 30.6% during the fourth quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock worth $807,000 after buying an additional 245 shares in the last quarter. Proficio Capital Partners LLC raised its position in Eli Lilly and Company by 30.2% in the 4th quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company's stock valued at $5,202,000 after buying an additional 1,562 shares during the last quarter. Finally, Bfsg LLC lifted its stake in Eli Lilly and Company by 1.4% during the 1st quarter. Bfsg LLC now owns 2,959 shares of the company's stock valued at $2,444,000 after acquiring an additional 42 shares in the last quarter. Institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock traded down $18.94 during midday trading on Friday, reaching $776.18. The stock had a trading volume of 4,109,419 shares, compared to its average volume of 3,682,356. The firm has a market capitalization of $735.61 billion, a PE ratio of 63.16, a P/E/G ratio of 1.16 and a beta of 0.40. 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 firm's 50-day moving average price is $781.50 and its 200 day moving average price is $800.11. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings data 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 net margin of 22.67% and a return on equity of 85.51%. The business had revenue of $12.73 billion during the quarter, compared to analysts' expectations of $12.77 billion. The firm's quarterly revenue was up 45.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.58 earnings per share. As a group, research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.77%. Eli Lilly and Company's payout ratio is 48.82%.

Wall Street Analysts Forecast Growth

LLY has been the subject of several recent analyst reports. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. HSBC cut shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their price target for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. Wall Street Zen upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their target price for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. Finally, Cantor Fitzgerald started coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $1,011.61.

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.