Eli Lilly and Company (NYSE:LLY) Holdings Cut by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Eli Lilly by 2.6% in Q1, holding 38,273 shares valued at approximately $31.61 million as of its latest SEC filing.
• Institutional ownership of Eli Lilly stands at 82.53%, with notable increases from PNC Financial Services Group and GAMMA Investing during the same period.
• Wall Street analysts show a consensus rating of "Moderate Buy" for Eli Lilly, with a target price averaging $1,012.56 following several upgrades and downgrades from various firms.

Atria Wealth Solutions Inc. cut its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,273 shares of the company's stock after selling 1,024 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Eli Lilly and Company were worth $31,610,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. grew its holdings in Eli Lilly and Company by 97.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 101,305,650 shares of the company's stock worth $83,669,349,000 after buying an additional 50,002,551 shares in the last quarter. GAMMA Investing LLC boosted its position in Eli Lilly and Company by 103,831.6% during the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after acquiring an additional 14,852,076 shares during the period. Capital International Investors grew its stake in shares of Eli Lilly and Company by 23.2% in the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company's stock worth $6,740,272,000 after purchasing an additional 1,645,222 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Eli Lilly and Company by 16.1% during the fourth quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock valued at $8,304,811,000 after purchasing an additional 1,493,673 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Eli Lilly and Company by 14.6% during the fourth quarter. Northern Trust Corp now owns 9,448,219 shares of the company's stock valued at $7,294,025,000 after purchasing an additional 1,204,337 shares in the last quarter. Institutional investors own 82.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their target price for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Erste Group Bank cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. UBS Group cut their target price on 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. Finally, Guggenheim lifted their price target on Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a research report on Friday, July 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company currently has an average rating of "Moderate Buy" and a consensus target price of $1,012.56.

Eli Lilly and Company Stock Up 0.7%

Shares of NYSE:LLY opened at $767.75 on Tuesday. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. The company has a market cap of $727.63 billion, a PE ratio of 62.47, a price-to-earnings-growth ratio of 1.08 and a beta of 0.44. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The firm has a 50 day simple moving average of $776.59 and a 200 day simple moving average of $800.81.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.50 per share. The ex-dividend date is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.8%. Eli Lilly and Company's payout ratio is currently 48.82%.

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.

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