Eli Lilly and Company (NYSE:LLY) Holdings Trimmed by Highland Capital Management LLC

Highland Capital Management LLC trimmed its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,050 shares of the company's stock after selling 385 shares during the period. Highland Capital Management LLC's holdings in Eli Lilly and Company were worth $7,474,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vista Investment Partners II LLC grew its position in Eli Lilly and Company by 0.7% during the 1st quarter. Vista Investment Partners II LLC now owns 11,543 shares of the company's stock worth $9,534,000 after purchasing an additional 82 shares in the last quarter. Jag Capital Management LLC grew its position in Eli Lilly and Company by 58.4% during the 1st quarter. Jag Capital Management LLC now owns 24,344 shares of the company's stock worth $20,106,000 after purchasing an additional 8,971 shares in the last quarter. Hartmann Taylor Wealth Management LLC purchased a new position in Eli Lilly and Company during the 1st quarter worth approximately $373,000. Kessler Investment Group LLC grew its position in Eli Lilly and Company by 14.4% during the 1st quarter. Kessler Investment Group LLC now owns 6,964 shares of the company's stock worth $5,752,000 after purchasing an additional 876 shares in the last quarter. Finally, Carolina Wealth Advisors LLC grew its position in Eli Lilly and Company by 223.1% during the 1st quarter. Carolina Wealth Advisors LLC now owns 937 shares of the company's stock worth $774,000 after purchasing an additional 647 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Down 2.4%

LLY stock opened at $776.18 on Friday. 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 has a 1 year low of $677.09 and a 1 year high of $972.53. The company has a fifty day simple moving average of $780.19 and a 200 day simple moving average of $799.96. The firm has a market cap of $735.61 billion, a PE ratio of 63.16, a PEG ratio of 1.13 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) 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 firm had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same quarter last year, the company earned $2.58 earnings per share. The firm's revenue was up 45.2% on a year-over-year basis. Sell-side analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LLY. Wall Street Zen cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Saturday. Morgan Stanley restated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their price target for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. UBS Group lowered their price target on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company has a consensus rating of "Moderate Buy" and a consensus target price of $1,011.61.

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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