Riverstone Advisors LLC Cuts Stock Position in Eli Lilly and Company (NYSE:LLY)

Riverstone Advisors LLC lessened its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 29.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 955 shares of the company's stock after selling 400 shares during the quarter. Eli Lilly and Company comprises 0.5% of Riverstone Advisors LLC's holdings, making the stock its 23rd biggest position. Riverstone Advisors LLC's holdings in Eli Lilly and Company were worth $789,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of LLY. Garner Asset Management Corp boosted 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 acquiring an additional 12 shares in the last quarter. Brighton Jones LLC increased its holdings in shares of Eli Lilly and Company by 22.0% during the fourth quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock valued at $7,409,000 after acquiring an additional 1,730 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of Eli Lilly and Company by 2.8% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock valued at $1,136,000 after purchasing an additional 40 shares during the last quarter. SOA Wealth Advisors LLC. boosted its stake in Eli Lilly and Company by 7.1% in the 4th quarter. SOA Wealth Advisors LLC. now owns 925 shares of the company's stock worth $714,000 after purchasing an additional 61 shares in the last quarter. Finally, Orion Capital Management LLC boosted its stake in Eli Lilly and Company by 2.5% in the 4th quarter. Orion Capital Management LLC now owns 1,610 shares of the company's stock worth $1,243,000 after purchasing an additional 40 shares in the last quarter. Institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock traded up $3.06 during mid-day trading on Wednesday, hitting $778.96. The company had a trading volume of 1,977,577 shares, compared to its average volume of 3,674,984. The company has a market capitalization of $738.25 billion, a price-to-earnings ratio of 63.38, a P/E/G ratio of 1.14 and a beta of 0.40. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53. The company's fifty day moving average is $778.38 and its 200-day moving average is $799.85. 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 earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same quarter in the prior year, the firm earned $2.58 earnings per share. The business's revenue for the quarter was up 45.2% on a year-over-year basis. Equities research analysts predict that Eli Lilly and Company will post 23.48 EPS 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. Stockholders of record on Friday, August 15th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is currently 48.82%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LLY. Guggenheim restated a "buy" rating and set a $936.00 price target on shares of Eli Lilly and Company in a research note on Friday, June 20th. Erste Group Bank lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Morgan Stanley restated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Hsbc Global Res cut Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Finally, The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their price objective for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.