Brookstone Capital Management Sells 1,033 Shares of Eli Lilly and Company (NYSE:LLY)

Brookstone Capital Management lessened its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 2.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,296 shares of the company's stock after selling 1,033 shares during the quarter. Brookstone Capital Management's holdings in Eli Lilly and Company were worth $29,977,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. FWG Holdings LLC lifted its position in shares of Eli Lilly and Company by 0.6% during the fourth quarter. FWG Holdings LLC now owns 2,023 shares of the company's stock valued at $1,640,000 after purchasing an additional 12 shares in the last quarter. Morling Financial Advisors LLC lifted its position in shares of Eli Lilly and Company by 4.7% during the 4th quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock worth $205,000 after buying an additional 12 shares in the last quarter. Prestige Wealth Management Group LLC lifted its holdings in Eli Lilly and Company by 2.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company's stock worth $468,000 after acquiring an additional 12 shares during the period. Applied Finance Capital Management LLC raised its stake in shares of Eli Lilly and Company by 1.4% during the 4th quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock worth $660,000 after purchasing an additional 12 shares during the period. Finally, Garner Asset Management Corp raised its stake in shares of 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. Institutional investors own 82.53% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on LLY. The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. Morgan Stanley reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price target on the stock. Wall Street Zen lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. Finally, HSBC lowered Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their target price for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Eli Lilly and Company currently has an average rating of "Moderate Buy" and an average target price of $1,011.61.

Eli Lilly and Company Price Performance

Shares of Eli Lilly and Company stock traded up $0.32 during trading on Friday, hitting $779.60. The stock had a trading volume of 1,450,772 shares, compared to its average volume of 3,667,986. The firm has a market cap of $738.85 billion, a price-to-earnings ratio of 63.43, a P/E/G ratio of 1.14 and a beta of 0.40. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. The business's 50-day moving average is $773.61 and its 200 day moving average is $799.96. 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 (NYSE:LLY - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). The business had revenue of $12.73 billion during the quarter, compared to the consensus estimate 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 revenue was up 45.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.58 earnings per share. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders 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 0.77%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is 48.82%.

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.