Whitener Capital Management Inc. Reduces Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Whitener Capital Management Inc. lowered its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 18.6% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,481 shares of the company's stock after selling 338 shares during the period. Whitener Capital Management Inc.'s holdings in Eli Lilly and Company were worth $1,223,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Prestige Wealth Management Group LLC increased its holdings in Eli Lilly and Company by 2.0% in the fourth quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company's stock worth $468,000 after purchasing an additional 12 shares in the last quarter. Applied Finance Capital Management LLC increased its holdings in shares of Eli Lilly and Company by 1.4% during the fourth quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock valued at $660,000 after acquiring an additional 12 shares in the last quarter. Garner Asset Management Corp increased its holdings in shares of Eli Lilly and Company by 2.3% during the fourth 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. Tobias Financial Advisors Inc. increased its holdings in shares of Eli Lilly and Company by 4.1% during the fourth quarter. Tobias Financial Advisors Inc. now owns 307 shares of the company's stock valued at $237,000 after acquiring an additional 12 shares in the last quarter. Finally, Redwood Investments LLC increased its holdings in shares of Eli Lilly and Company by 0.5% during the fourth quarter. Redwood Investments LLC now owns 2,209 shares of the company's stock valued at $1,705,000 after acquiring an additional 12 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Eli Lilly and Company Trading Down 3.6%

LLY stock traded down $28.60 during midday trading on Tuesday, hitting $770.74. The company had a trading volume of 2,777,994 shares, compared to its average volume of 3,798,171. 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 has a 52 week low of $677.09 and a 52 week high of $972.53. The stock's 50 day moving average price is $765.95 and its 200 day moving average price is $800.18. The stock has a market cap of $730.46 billion, a price-to-earnings ratio of 62.71, a PEG ratio of 1.16 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). The business had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. Eli Lilly and Company's revenue was up 45.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.58 EPS. As a group, equities research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business 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 $1.50 dividend. The ex-dividend date is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.78%. Eli Lilly and Company's dividend payout ratio is currently 48.82%.

Wall Street Analyst Weigh In

LLY has been the subject of several recent research reports. HSBC downgraded 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. Guggenheim boosted their price objective on Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a research report on Friday. UBS Group cut their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Cantor Fitzgerald began coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price objective on the stock. Finally, 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,012.56.

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.