Eli Lilly and Company (NYSE:LLY) is Indie Asset Partners LLC's Largest Position

Key Points

• Indie Asset Partners LLC has reduced its holdings in Eli Lilly and Company by 1.0%, making Eli Lilly the largest position in its investment portfolio at $48.9 million.
• Eli Lilly's stock has recently seen changes in ratings, with Erste Group Bank downgrading it from "buy" to "hold," while others, including Wall Street Zen, upgraded it to "buy," showing mixed analyst sentiments.
• The company declared a quarterly dividend of $1.50 per share to be paid on September 10th, resulting in an annualized dividend yield of 0.74%.

Indie Asset Partners LLC decreased its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 1.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,217 shares of the company's stock after selling 608 shares during the quarter. Eli Lilly and Company makes up 42.4% of Indie Asset Partners LLC's holdings, making the stock its largest position. Indie Asset Partners LLC's holdings in Eli Lilly and Company were worth $48,908,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of LLY. WestEnd Advisors LLC boosted its stake in shares of Eli Lilly and Company by 210.0% in the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after buying an additional 21 shares during the last quarter. Citizens National Bank Trust Department boosted its stake 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 worth $35,000 after buying an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in shares of Eli Lilly and Company in the first quarter worth about $40,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Eli Lilly and Company in the fourth quarter worth about $43,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in shares of Eli Lilly and Company in the fourth quarter worth about $48,000. Hedge funds and other institutional investors own 82.53% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on LLY shares. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. 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 price target for the company. Morgan Stanley reaffirmed an "overweight" rating and issued a $1,135.00 price target (up previously from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. Erste Group Bank cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Finally, Wall Street Zen raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Saturday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $1,012.56.

Eli Lilly and Company Price Performance

Shares of LLY stock traded down $3.19 during trading hours on Wednesday, reaching $759.76. The company had a trading volume of 4,331,834 shares, compared to its average volume of 3,787,427. 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 stock has a fifty day moving average of $773.36 and a 200-day moving average of $800.41. The company has a market capitalization of $720.05 billion, a price-to-earnings ratio of 61.82, a PEG ratio of 1.15 and a beta of 0.40. 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 issued its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.30). The business had revenue of $12.73 billion during the quarter, compared to analysts' expectations of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The company's revenue was up 45.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.58 earnings per share. On average, equities 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 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 is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.79%. Eli Lilly and Company's payout ratio is 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.