Eli Lilly and Company (NYSE:LLY) Shares Sold by Cvfg LLC

Cvfg LLC trimmed its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 8.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,218 shares of the company's stock after selling 377 shares during the quarter. Eli Lilly and Company comprises 3.2% of Cvfg LLC's portfolio, making the stock its 9th biggest holding. Cvfg LLC's holdings in Eli Lilly and Company were worth $3,484,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LLY. Alpine Bank Wealth Management bought a new position in Eli Lilly and Company in the 1st quarter worth approximately $903,000. FFG Partners LLC increased its stake in shares of Eli Lilly and Company by 3.9% in the 1st quarter. FFG Partners LLC now owns 20,856 shares of the company's stock valued at $17,226,000 after buying an additional 783 shares during the period. HBK Sorce Advisory LLC raised its position in shares of Eli Lilly and Company by 2.7% during the first quarter. HBK Sorce Advisory LLC now owns 17,029 shares of the company's stock worth $14,064,000 after acquiring an additional 451 shares during the last quarter. Pinnacle Bancorp Inc. lifted its stake in shares of Eli Lilly and Company by 0.7% during the first quarter. Pinnacle Bancorp Inc. now owns 5,304 shares of the company's stock valued at $4,381,000 after acquiring an additional 35 shares during the period. Finally, Golden State Wealth Management LLC lifted its stake in shares of Eli Lilly and Company by 200.1% during the first quarter. Golden State Wealth Management LLC now owns 2,803 shares of the company's stock valued at $2,317,000 after acquiring an additional 1,869 shares during the period. Institutional investors and hedge funds own 82.53% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on LLY. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Hsbc Global Res cut shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Erste Group Bank downgraded shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Morgan Stanley restated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, HSBC lowered shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their target price for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,011.61.

Eli Lilly and Company Trading Up 0.5%

NYSE LLY opened at $795.97 on Friday. Eli Lilly and Company has a one year low of $677.09 and a one 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 firm has a market cap of $754.37 billion, a P/E ratio of 64.77, a P/E/G ratio of 1.16 and a beta of 0.40. The stock's 50-day moving average is $781.50 and its 200-day moving average is $800.11.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $12.77 billion. During the same quarter last year, the business posted $2.58 earnings per share. The business's quarterly revenue was up 45.2% on a year-over-year basis. Sell-side 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 disclosed 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. The ex-dividend date is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.75%. Eli Lilly and Company's payout ratio is 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.

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