Elk River Wealth Management LLC Cuts Position in Eli Lilly and Company (NYSE:LLY)

Elk River Wealth Management LLC cut its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 3.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,711 shares of the company's stock after selling 344 shares during the quarter. Eli Lilly and Company accounts for approximately 1.3% of Elk River Wealth Management LLC's holdings, making the stock its 23rd biggest holding. Elk River Wealth Management LLC's holdings in Eli Lilly and Company were worth $7,195,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LLY. Vanguard Group Inc. raised its position in Eli Lilly and Company by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company's stock valued at $57,320,226,000 after purchasing an additional 475,530 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Eli Lilly and Company by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock worth $13,389,651,000 after buying an additional 291,875 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Eli Lilly and Company by 103,831.6% during the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock valued at $12,278,292,000 after purchasing an additional 14,852,076 shares during the last quarter. Wellington Management Group LLP raised its stake in Eli Lilly and Company by 19.0% during the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock valued at $9,747,214,000 after buying an additional 2,012,129 shares during the last quarter. Finally, Norges Bank bought a new position in Eli Lilly and Company in the 4th quarter worth about $8,407,908,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Price Performance

Shares of LLY stock opened at $770.00 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The stock has a fifty day simple moving average of $770.87 and a two-hundred day simple moving average of $799.95. The stock has a market capitalization of $729.76 billion, a price-to-earnings ratio of 65.76, a P/E/G ratio of 1.40 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced 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 net margin of 23.51% and a return on equity of 85.24%. The company had revenue of $12.73 billion during the quarter, compared to analysts' expectations of $12.77 billion. During the same quarter in the prior year, the business posted $2.58 earnings per share. The company's revenue was up 45.2% compared to the same quarter last year. On average, analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 annualized dividend and a yield of 0.78%. Eli Lilly and Company's dividend payout ratio (DPR) is 48.82%.

Insider Activity

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 value of $818,240.00. Following the completion of the transaction, the chief accounting officer now owns 5,840 shares in the company, valued at $4,778,521.60. This trade represents a 14.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

LLY has been the topic of several recent analyst reports. Wall Street Zen upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Saturday. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their price objective for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. 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. Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, Morgan Stanley restated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company currently has an average rating of "Moderate Buy" and a consensus target price of $1,011.37.

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.

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