Shufro Rose & Co. LLC Sells 600 Shares of Eli Lilly and Company (NYSE:LLY)

Key Points

• Shufro Rose & Co. LLC sold 600 shares of Eli Lilly and Company, reducing its stake by 1.3% and bringing its total holdings to 45,114 shares, valued at approximately $37.26 million.
• Eli Lilly recently reported earnings of $3.34 per share, missing analysts' expectations and showing a revenue growth of 45.2% year-over-year despite a quarterly revenue of $12.73 billion, slightly below estimates.
• The company announced a quarterly dividend of $1.50 per share, with a total annualized payout of $6.00, representing a dividend yield of 0.8% and a payout ratio of 48.82%.

Shufro Rose & Co. LLC cut its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 1.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,114 shares of the company's stock after selling 600 shares during the quarter. Eli Lilly and Company accounts for about 2.9% of Shufro Rose & Co. LLC's portfolio, making the stock its 8th biggest holding. Shufro Rose & Co. LLC's holdings in Eli Lilly and Company were worth $37,260,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of LLY. Applied Finance Capital Management LLC raised its holdings in Eli Lilly and Company by 1.4% during the fourth quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock worth $660,000 after acquiring an additional 12 shares in the last quarter. Garner Asset Management Corp raised its holdings in Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after acquiring an additional 12 shares in the last quarter. Tobias Financial Advisors Inc. raised its holdings in Eli Lilly and Company by 4.1% during the fourth quarter. Tobias Financial Advisors Inc. now owns 307 shares of the company's stock worth $237,000 after acquiring an additional 12 shares in the last quarter. Redwood Investments LLC raised its holdings in Eli Lilly and Company by 0.5% during the fourth quarter. Redwood Investments LLC now owns 2,209 shares of the company's stock worth $1,705,000 after acquiring an additional 12 shares in the last quarter. Finally, Hobbs Wealth Management LLC raised its holdings in Eli Lilly and Company by 0.8% during the first quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company's stock worth $1,205,000 after acquiring an additional 12 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on LLY shares. Morgan Stanley restated an "overweight" rating and issued a $1,135.00 price objective (up previously from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. Cantor Fitzgerald started coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price objective on the stock. UBS Group dropped their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Finally, Guggenheim upped their price objective on Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a research note on Friday, July 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,012.56.

Eli Lilly and Company Price Performance

NYSE:LLY traded up $21.40 during trading hours on Friday, reaching $761.47. 4,857,388 shares of the company were exchanged, compared to its average volume of 3,285,034. The company has a market capitalization of $721.67 billion, a P/E ratio of 61.96, a P/E/G ratio of 1.05 and a beta of 0.44. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. The business has a 50 day moving average of $775.51 and a 200 day moving average of $799.86.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued 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). The company had revenue of $12.73 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 45.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.58 EPS. Research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

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