Mesirow Financial Investment Management Inc. Sells 375 Shares of Eli Lilly and Company (NYSE:LLY)

Key Points

• Mesirow Financial Investment Management Inc. reduced its holdings in Eli Lilly by 2.3%, selling 375 shares and holding a total of 15,671 shares valued at approximately $12.9 million.
• Eli Lilly reported Q1 earnings per share of $3.34, falling short of analysts' expectations of $4.64, with revenues slightly under the consensus estimate as well.
• The company announced a quarterly dividend of $1.50 per share, translating to an annualized dividend yield of 0.79% and a payout ratio of 48.82%.

Mesirow Financial Investment Management Inc. lessened its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,671 shares of the company's stock after selling 375 shares during the quarter. Mesirow Financial Investment Management Inc.'s holdings in Eli Lilly and Company were worth $12,947,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of LLY. WestEnd Advisors LLC lifted its holdings in Eli Lilly and Company by 210.0% in the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after acquiring an additional 21 shares during the last quarter. Citizens National Bank Trust Department increased its holdings in Eli Lilly and Company by 180.0% in the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after buying an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of Eli Lilly and Company during the first quarter worth about $40,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Eli Lilly and Company during the fourth quarter worth about $43,000. Finally, O Brien Wealth Partners LLC grew its holdings in shares of Eli Lilly and Company by 25.5% during the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock worth $49,000 after buying an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Trading Down 0.4%

NYSE LLY traded down $3.19 during trading hours on Wednesday, hitting $759.76. The company's stock had a trading volume of 4,331,834 shares, compared to its average volume of 2,949,040. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18. The firm has a market capitalization of $720.05 billion, a P/E ratio of 61.82, a PEG ratio of 1.08 and a beta of 0.40. The stock has a fifty day moving average of $774.07 and a 200 day moving average of $800.13.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released 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 net margin of 22.67% and a return on equity of 85.51%. The firm's revenue for the quarter was up 45.2% on a year-over-year basis. During the same period last year, the business posted $2.58 EPS. Equities research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently declared 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 dividend yield of 0.79%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Morgan Stanley reissued an "overweight" rating and set a $1,135.00 price target (up previously from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price target for the company. HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their price objective for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. The Goldman Sachs Group upgraded 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. Finally, Guggenheim increased their price target on Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company presently has a consensus rating of "Moderate Buy" and an average target price of $1,012.56.

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.