Eli Lilly and Company (NYSE:LLY) Position Cut by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. lessened its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 6.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,382 shares of the company's stock after selling 2,129 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in Eli Lilly and Company were worth $26,745,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Knightsbridge Asset Management LLC lifted its stake in shares of Eli Lilly and Company by 1.9% in the fourth quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock worth $628,000 after acquiring an additional 15 shares in the last quarter. LS Investment Advisors LLC lifted its stake in shares of Eli Lilly and Company by 1.7% in the first quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock worth $1,933,000 after acquiring an additional 40 shares in the last quarter. CSM Advisors LLC raised its stake in Eli Lilly and Company by 30.6% during the fourth quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock valued at $807,000 after buying an additional 245 shares in the last quarter. Proficio Capital Partners LLC raised its stake in Eli Lilly and Company by 30.2% during the fourth quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company's stock valued at $5,202,000 after buying an additional 1,562 shares in the last quarter. Finally, Bfsg LLC raised its stake in Eli Lilly and Company by 1.4% during the first quarter. Bfsg LLC now owns 2,959 shares of the company's stock valued at $2,444,000 after buying an additional 42 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LLY. Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their price objective for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. Hsbc Global Res cut Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. Morgan Stanley restated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Finally, Wall Street Zen cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Eli Lilly and Company has an average rating of "Moderate Buy" and a consensus price target of $1,011.61.

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY traded up $9.34 during trading on Wednesday, hitting $787.00. 2,701,662 shares of the company traded hands, compared to its average volume of 3,663,521. The stock has a market capitalization of $745.87 billion, a price-to-earnings ratio of 64.04, a PEG ratio of 1.13 and a beta of 0.40. The business's fifty day moving average is $769.37 and its 200-day moving average is $800.14. Eli Lilly and Company has a one year low of $677.09 and a one year 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.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. During the same period last year, the company earned $2.58 earnings per share. The business's quarterly revenue was up 45.2% compared to the same quarter last year. As a group, equities 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 firm 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 $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is 48.82%.

About Eli Lilly and Company

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.