West Family Investments Inc. Sells 3,053 Shares of Eli Lilly and Company (NYSE:LLY)

West Family Investments Inc. cut its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 67.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,498 shares of the company's stock after selling 3,053 shares during the quarter. West Family Investments Inc.'s holdings in Eli Lilly and Company were worth $1,237,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Garner Asset Management Corp lifted its holdings in Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after purchasing an additional 12 shares in the last quarter. Brighton Jones LLC lifted its holdings in Eli Lilly and Company by 22.0% in the 4th quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock worth $7,409,000 after purchasing an additional 1,730 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in 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 worth $1,136,000 after purchasing an additional 40 shares in the last quarter. Orion Capital Management LLC lifted its holdings 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. Finally, Bank Pictet & Cie Europe AG raised its holdings in shares of Eli Lilly and Company by 4.1% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 64,758 shares of the company's stock worth $49,993,000 after acquiring an additional 2,568 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Up 1.7%

Shares of LLY traded up $13.11 during midday trading on Friday, reaching $774.61. 2,491,237 shares of the stock were exchanged, compared to its average volume of 3,677,745. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. The company's 50 day moving average is $766.32 and its two-hundred day moving average is $799.83. The company has a market capitalization of $734.12 billion, a P/E ratio of 63.00, a PEG ratio of 1.15 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same period in the previous year, the company posted $2.58 EPS. Eli Lilly and Company's quarterly revenue was up 45.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's payout ratio is 48.82%.

Wall Street Analyst Weigh In

LLY has been the topic of several recent research reports. Guggenheim upped their price objective on Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a report on Friday, July 11th. 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. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their target price for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. Erste Group Bank downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Finally, Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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.