NewEdge Wealth LLC lowered its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 14.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 68,705 shares of the company's stock after selling 11,694 shares during the period. Eli Lilly and Company comprises approximately 1.0% of NewEdge Wealth LLC's investment portfolio, making the stock its 15th biggest position. NewEdge Wealth LLC's holdings in Eli Lilly and Company were worth $56,744,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the company. Applied Finance Capital Management LLC increased its stake in shares of 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 purchasing an additional 12 shares in the last quarter. Garner Asset Management Corp increased its stake in shares of 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 purchasing an additional 12 shares in the last quarter. Tobias Financial Advisors Inc. increased its stake in shares of 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 purchasing an additional 12 shares in the last quarter. Redwood Investments LLC increased its stake in shares of 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 purchasing an additional 12 shares in the last quarter. Finally, Hobbs Wealth Management LLC grew its stake in Eli Lilly and Company by 0.8% during the 1st quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company's stock valued at $1,205,000 after acquiring an additional 12 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.
Analysts Set New Price Targets
Several analysts recently issued reports on the stock. The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Erste Group Bank cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price objective for the company. UBS Group dropped their price objective on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Guggenheim upped their price objective on shares of 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,012.56.
View Our Latest Stock Analysis on Eli Lilly and Company
Eli Lilly and Company Stock Up 0.7%
Eli Lilly and Company stock traded up $5.42 during mid-day trading on Monday, reaching $767.75. 3,348,700 shares of the company's stock were exchanged, compared to its average volume of 3,528,007. The company has a market cap of $727.63 billion, a P/E ratio of 62.47, a P/E/G ratio of 1.08 and a beta of 0.44. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. 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 fifty day moving average of $775.51 and a 200-day moving average of $800.52.
Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its 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 business 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%. Eli Lilly and Company's quarterly revenue was up 45.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.58 earnings per share. Sell-side analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.
Eli Lilly and Company Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders 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 dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's payout ratio is 48.82%.
Eli Lilly and Company Profile
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Free Report)
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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