Conning Inc. Sells 1,219 Shares of Eli Lilly and Company (NYSE:LLY)

Conning Inc. lowered its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 11.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,396 shares of the company's stock after selling 1,219 shares during the quarter. Conning Inc.'s holdings in Eli Lilly and Company were worth $7,760,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FWG Holdings LLC increased its position in Eli Lilly and Company by 0.6% in the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company's stock valued at $1,640,000 after acquiring an additional 12 shares during the period. Morling Financial Advisors LLC increased its holdings in shares of Eli Lilly and Company by 4.7% during the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock valued at $205,000 after purchasing an additional 12 shares during the period. Prestige Wealth Management Group LLC increased its holdings in shares of 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 valued at $468,000 after purchasing 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 fourth quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock valued at $660,000 after purchasing an additional 12 shares in the last quarter. Finally, Garner Asset Management Corp lifted its holdings in Eli Lilly and Company by 2.3% in 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 during the period. Institutional investors and hedge funds own 82.53% of the company's stock.

Wall Street Analyst Weigh In

LLY has been the topic of a number of recent analyst reports. Guggenheim restated a "buy" rating and set a $936.00 price target on shares of Eli Lilly and Company in a research report on Friday, June 20th. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 target price for the company. Wall Street Zen lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. Erste Group Bank downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Finally, HSBC cut shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their price target for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,011.61.

Eli Lilly and Company Stock Up 0.0%

NYSE:LLY traded up $0.32 during trading hours on Friday, hitting $779.60. 1,450,772 shares of the stock traded hands, compared to its average volume of 3,664,838. The firm has a 50 day moving average price of $773.61 and a 200 day moving average price of $799.72. The firm has a market cap of $738.85 billion, a price-to-earnings ratio of 63.43, a PEG 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 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 posted 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). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The company had revenue of $12.73 billion during the quarter, compared to analysts' expectations of $12.77 billion. During the same period last year, the company earned $2.58 earnings per share. Eli Lilly and Company's revenue for the quarter was up 45.2% compared to the same quarter last year. Equities research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.77%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is currently 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.