Wellington Shields & Co. LLC Sells 364 Shares of Eli Lilly and Company (NYSE:LLY)

Key Points

• Wellington Shields & Co. LLC reduced its stake in Eli Lilly by selling 364 shares, decreasing its ownership by 2.8%, while retaining a total of 12,871 shares, valued at approximately $10.63 million.
• Eli Lilly's stock is currently trading at $759.76 with a market cap of $720.05 billion and a 52-week price range between $677.09 and $972.53.
• The company recently reported earnings of $3.34 per share, missing estimates, and announced a quarterly dividend of $1.50 per share, yielding 0.79%.

Wellington Shields & Co. LLC lessened its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 2.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,871 shares of the company's stock after selling 364 shares during the quarter. Eli Lilly and Company makes up 3.3% of Wellington Shields & Co. LLC's investment portfolio, making the stock its 4th largest holding. Wellington Shields & Co. LLC's holdings in Eli Lilly and Company were worth $10,630,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of LLY. Garner Asset Management Corp increased its holdings in Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after purchasing an additional 12 shares during the period. Brighton Jones LLC increased its holdings in shares of Eli Lilly and Company by 22.0% in the 4th quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock valued at $7,409,000 after acquiring an additional 1,730 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Eli Lilly and Company by 2.8% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock valued at $1,136,000 after acquiring an additional 40 shares during the last quarter. Orion Capital Management LLC increased its holdings in shares of Eli Lilly and Company by 2.5% in the 4th quarter. Orion Capital Management LLC now owns 1,610 shares of the company's stock valued at $1,243,000 after acquiring an additional 40 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG boosted its position in shares of Eli Lilly and Company by 4.1% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 64,758 shares of the company's stock valued at $49,993,000 after purchasing an additional 2,568 shares during the period. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Price Performance

NYSE LLY traded down $3.19 during mid-day trading on Wednesday, hitting $759.76. The stock had a trading volume of 4,331,834 shares, compared to its average volume of 2,949,040. 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 company has a 50 day simple moving average of $774.07 and a 200 day simple moving average of $800.13. The company has a market cap of $720.05 billion, a price-to-earnings ratio of 61.82, a P/E/G ratio of 1.08 and a beta of 0.40. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53.

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 for the quarter, missing the consensus estimate of $4.64 by ($1.30). The company had revenue of $12.73 billion for 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 business's quarterly revenue was up 45.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.58 EPS. Equities analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.79%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is 48.82%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Morgan Stanley reissued an "overweight" rating and issued a $1,135.00 target price (up from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. 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. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their price objective for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Erste Group Bank cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Finally, Guggenheim increased their price objective on Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,012.56.

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.