Strategy Asset Managers LLC Sells 1,023 Shares of Eli Lilly and Company (NYSE:LLY)

Key Points

• Strategy Asset Managers LLC reduced its position in Eli Lilly by 6.5%, now holding 14,795 shares, which represents about 2.5% of the firm's total holdings valued at approximately $12.22 million.
• Several hedge funds increased their positions in Eli Lilly during the last quarter, with notable increases of 22.0% from Brighton Jones LLC and 2.3% from Garner Asset Management Corp.
• Eli Lilly has declared a quarterly dividend of $1.50 per share, set to be paid on September 10, representing a 0.8% yield and a dividend payout ratio of 48.82%.

Strategy Asset Managers LLC lowered its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 6.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,795 shares of the company's stock after selling 1,023 shares during the quarter. Eli Lilly and Company makes up about 2.5% of Strategy Asset Managers LLC's investment portfolio, making the stock its 6th largest position. Strategy Asset Managers LLC's holdings in Eli Lilly and Company were worth $12,219,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. WestEnd Advisors LLC boosted its holdings in Eli Lilly and Company by 210.0% during 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 increased its stake in shares of Eli Lilly and Company by 180.0% in the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after acquiring an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of Eli Lilly and Company in the 1st quarter valued at approximately $40,000. Mascagni Wealth Management Inc. bought a new position in Eli Lilly and Company during the 4th quarter worth approximately $43,000. Finally, O Brien Wealth Partners LLC boosted its position in shares of Eli Lilly and Company by 25.5% during the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock worth $49,000 after purchasing an additional 12 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on LLY. Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Morgan Stanley reaffirmed an "overweight" rating and set a $1,135.00 price target (up from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their price objective for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Finally, Hsbc Global Res cut Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company presently has a consensus rating of "Moderate Buy" and a consensus target price of $999.50.

Eli Lilly and Company Stock Performance

LLY stock traded down $106.20 during trading hours on Thursday, hitting $640.17. 26,056,463 shares of the stock were exchanged, compared to its average volume of 3,684,957. Eli Lilly and Company has a 12 month low of $633.20 and a 12 month high of $972.53. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. The firm has a market capitalization of $606.71 billion, a P/E ratio of 52.09, a P/E/G ratio of 1.06 and a beta of 0.44. The company has a 50-day simple moving average of $776.36 and a two-hundred day simple moving average of $799.60.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.59 by $0.72. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The firm had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. During the same quarter in the previous year, the firm posted $3.92 EPS. The business's revenue for the quarter was up 37.6% compared to the same quarter last year. On average, analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is 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.