Eli Lilly and Company (NYSE:LLY) Stake Lowered by First American Bank

First American Bank reduced its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,701 shares of the company's stock after selling 398 shares during the period. Eli Lilly and Company accounts for 3.3% of First American Bank's investment portfolio, making the stock its 6th biggest holding. First American Bank's holdings in Eli Lilly and Company were worth $45,178,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of LLY. Garner Asset Management Corp grew its holdings in shares of Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company's stock valued at $411,000 after acquiring an additional 12 shares in the last quarter. Brighton Jones LLC grew its holdings in shares of Eli Lilly and Company by 22.0% during the 4th 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. Union Bancaire Privee UBP SA purchased a new position in shares of Eli Lilly and Company during the 4th quarter valued at $49,534,000. Revolve Wealth Partners LLC grew its holdings in shares of Eli Lilly and Company by 2.8% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock valued at $1,136,000 after acquiring an additional 40 shares in the last quarter. Finally, SOA Wealth Advisors LLC. grew its holdings in shares of Eli Lilly and Company by 7.1% during the 4th quarter. SOA Wealth Advisors LLC. now owns 925 shares of the company's stock valued at $714,000 after acquiring an additional 61 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Down 2.8%

Shares of LLY opened at $763.43 on Friday. The company has a 50-day simple moving average of $780.48 and a 200-day simple moving average of $800.93. The firm has a market capitalization of $723.53 billion, a P/E ratio of 62.12, a P/E/G ratio of 1.11 and a beta of 0.40. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. 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 posted its quarterly 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 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 analyst estimates of $12.77 billion. During the same period last year, the company earned $2.58 EPS. The business's revenue for the quarter was up 45.2% on a year-over-year basis. On average, equities research analysts expect 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 disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $6.00 annualized dividend and a yield of 0.79%. Eli Lilly and Company's dividend payout ratio is 48.82%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Erste Group Bank cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price objective for the company. Hsbc Global Res cut shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. UBS Group decreased their price objective on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,011.79.

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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