Eli Lilly and Company (NYSE:LLY) Shares Sold by M&T Bank Corp

M&T Bank Corp decreased its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 5.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 246,654 shares of the company's stock after selling 14,170 shares during the period. Eli Lilly and Company accounts for 0.7% of M&T Bank Corp's portfolio, making the stock its 28th largest position. M&T Bank Corp's holdings in Eli Lilly and Company were worth $203,714,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. WestEnd Advisors LLC grew its stake in Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after buying an additional 21 shares during the period. Citizens National Bank Trust Department grew its stake in Eli Lilly and Company by 180.0% during the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after buying an additional 27 shares during the period. Mascagni Wealth Management Inc. purchased a new stake in Eli Lilly and Company during the fourth quarter worth approximately $43,000. O Brien Wealth Partners LLC grew its stake in 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 period. Finally, Prudent Man Investment Management Inc. purchased a new stake in Eli Lilly and Company during the fourth quarter worth approximately $48,000. Institutional investors and hedge funds own 82.53% of the company's stock.

Eli Lilly and Company Trading Up 0.7%

NYSE LLY opened at $777.92 on Wednesday. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month 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 company has a market capitalization of $737.27 billion, a price-to-earnings ratio of 63.30, a price-to-earnings-growth ratio of 1.13 and a beta of 0.40. The company's fifty day moving average price is $769.37 and its two-hundred day moving average price is $800.14.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The company had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same quarter last year, the company earned $2.58 earnings per share. The company's revenue was up 45.2% compared to the same quarter last year. As a group, research analysts predict 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid 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 yield of 0.77%. Eli Lilly and Company's dividend payout ratio (DPR) is 48.82%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LLY. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Hsbc Global Res downgraded shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. Cantor Fitzgerald began coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price objective for the company. Guggenheim reiterated a "buy" rating and set a $936.00 price objective on shares of Eli Lilly and Company in a research note on Friday, June 20th. Finally, The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company presently has a consensus rating of "Moderate Buy" and an average target price of $1,011.61.

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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