Founders Grove Wealth Partners LLC Sells 955 Shares of Eli Lilly and Company (NYSE:LLY)

Founders Grove Wealth Partners LLC cut its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 4.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,399 shares of the company's stock after selling 955 shares during the period. Eli Lilly and Company accounts for about 4.9% of Founders Grove Wealth Partners LLC's investment portfolio, making the stock its 3rd largest position. Founders Grove Wealth Partners LLC's holdings in Eli Lilly and Company were worth $17,673,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Eli Lilly and Company by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company's stock valued at $57,320,226,000 after acquiring an additional 475,530 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Eli Lilly and Company by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock valued at $13,389,651,000 after acquiring an additional 291,875 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Eli Lilly and Company by 103,831.6% in the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock valued at $12,278,292,000 after acquiring an additional 14,852,076 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Eli Lilly and Company by 19.0% in the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock valued at $9,747,214,000 after acquiring an additional 2,012,129 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Eli Lilly and Company in the 4th quarter valued at approximately $8,407,908,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY traded up $6.53 during trading on Friday, hitting $818.56. 2,753,537 shares of the stock were exchanged, compared to its average volume of 3,651,762. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The company has a market capitalization of $775.78 billion, a price-to-earnings ratio of 69.90, a price-to-earnings-growth ratio of 1.40 and a beta of 0.41. The company's fifty day simple moving average is $773.53 and its 200-day simple moving average is $801.30. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings data 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). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The firm had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. During the same period in the previous year, the business posted $2.58 EPS. Eli Lilly and Company's revenue for the quarter was up 45.2% compared to the same quarter last year. Sell-side analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.73%. The ex-dividend date was Friday, May 16th. Eli Lilly and Company's dividend payout ratio is 48.82%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on LLY shares. UBS Group cut their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. HSBC downgraded 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. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Hsbc Global Res downgraded Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Finally, Erste Group Bank downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,011.37.

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.