Eli Lilly and Company (NYSE:LLY) Shares Sold by Western Wealth Management LLC

Western Wealth Management LLC lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 70.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,576 shares of the company's stock after selling 8,342 shares during the quarter. Eli Lilly and Company accounts for about 0.8% of Western Wealth Management LLC's investment portfolio, making the stock its 27th largest holding. Western Wealth Management LLC's holdings in Eli Lilly and Company were worth $2,761,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LLY. Grassi Investment Management increased its position in Eli Lilly and Company by 0.3% during the 4th quarter. Grassi Investment Management now owns 79,512 shares of the company's stock worth $61,383,000 after purchasing an additional 225 shares in the last quarter. Elevate Capital Advisors LLC acquired a new stake in Eli Lilly and Company during the 4th quarter worth approximately $262,000. Capital & Planning LLC increased its position in Eli Lilly and Company by 15.6% during the 4th quarter. Capital & Planning LLC now owns 481 shares of the company's stock worth $371,000 after purchasing an additional 65 shares in the last quarter. Tudor Financial Inc. increased its position in Eli Lilly and Company by 140.3% during the 4th quarter. Tudor Financial Inc. now owns 1,086 shares of the company's stock worth $839,000 after purchasing an additional 634 shares in the last quarter. Finally, Pure Financial Advisors LLC increased its position in Eli Lilly and Company by 45.0% during the 4th quarter. Pure Financial Advisors LLC now owns 3,407 shares of the company's stock worth $2,630,000 after purchasing an additional 1,058 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at $4,778,521.60. This trade represents a 14.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.13% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LLY has been the subject of a number of analyst reports. Truist Financial upped their price target on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their price target for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price target for the company. Wall Street Zen upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Finally, Guggenheim restated a "buy" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company presently has an average rating of "Moderate Buy" and an average price target of $1,011.37.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $714.84 on Friday. The stock has a market cap of $677.48 billion, a P/E ratio of 61.05, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The stock has a 50 day moving average of $791.44 and a 200-day moving average of $803.64. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The business had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. During the same quarter last year, the company posted $2.58 earnings per share. The business's quarterly revenue was up 45.2% compared to the same quarter last year. On average, analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.84%. The ex-dividend date is Friday, May 16th. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

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.

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