Eli Lilly and Company (NYSE:LLY) Shares Sold by Burke & Herbert Bank & Trust Co.

Burke & Herbert Bank & Trust Co. cut its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 8.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,767 shares of the company's stock after selling 810 shares during the quarter. Eli Lilly and Company makes up approximately 1.7% of Burke & Herbert Bank & Trust Co.'s holdings, making the stock its 12th biggest holding. Burke & Herbert Bank & Trust Co.'s holdings in Eli Lilly and Company were worth $7,241,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. WestEnd Advisors LLC increased 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 valued at $26,000 after buying an additional 21 shares during the period. Citizens National Bank Trust Department increased its holdings 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 period. Mascagni Wealth Management Inc. purchased a new position in shares of Eli Lilly and Company in the 4th quarter valued at $43,000. Prudent Man Investment Management Inc. purchased a new position in shares of Eli Lilly and Company in the 4th quarter valued at $48,000. Finally, O Brien Wealth Partners LLC increased its holdings in shares of Eli Lilly and Company by 25.5% in the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock valued at $49,000 after acquiring an additional 12 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LLY. Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. Wall Street Zen downgraded shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. Cantor Fitzgerald started 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. Finally, UBS Group cut their price target on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $1,011.61.

Eli Lilly and Company Stock Performance

NYSE:LLY traded down $7.85 during midday trading on Monday, hitting $772.82. The company's stock had a trading volume of 2,575,478 shares, compared to its average volume of 3,663,620. The firm has a market cap of $732.43 billion, a P/E ratio of 62.88, a P/E/G ratio of 1.14 and a beta of 0.40. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The firm's 50 day moving average is $773.61 and its 200-day moving average is $800.26. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced 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 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 revenue for the quarter was up 45.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.58 earnings per share. Equities analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend 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.