Eli Lilly and Company (NYSE:LLY) Shares Sold by Essex Financial Services Inc.

Essex Financial Services Inc. cut its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 3.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,088 shares of the company's stock after selling 941 shares during the quarter. Eli Lilly and Company accounts for 1.5% of Essex Financial Services Inc.'s portfolio, making the stock its 12th biggest holding. Essex Financial Services Inc.'s holdings in Eli Lilly and Company were worth $20,720,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Knightsbridge Asset Management LLC boosted its position in shares of Eli Lilly and Company by 1.9% in the 4th quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock worth $628,000 after buying an additional 15 shares in the last quarter. LS Investment Advisors LLC lifted its holdings in shares of Eli Lilly and Company by 1.7% in the first quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock valued at $1,933,000 after purchasing an additional 40 shares in the last quarter. CSM Advisors LLC grew its position in shares of Eli Lilly and Company by 30.6% in the fourth quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock valued at $807,000 after purchasing an additional 245 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of Eli Lilly and Company by 30.2% during the 4th quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company's stock worth $5,202,000 after purchasing an additional 1,562 shares in the last quarter. Finally, Bfsg LLC raised its position in shares of Eli Lilly and Company by 1.4% during the 1st quarter. Bfsg LLC now owns 2,959 shares of the company's stock worth $2,444,000 after purchasing an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on LLY shares. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Guggenheim reaffirmed a "buy" rating and set a $936.00 price objective on shares of Eli Lilly and Company in a research note on Friday, June 20th. 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 price objective for the company. UBS Group reduced their target price on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Wall Street Zen cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Saturday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen 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 a consensus target price of $1,011.61.

Eli Lilly and Company Trading Up 0.1%

Shares of NYSE LLY traded up $0.43 during trading on Wednesday, hitting $776.33. 558,422 shares of the company traded hands, compared to its average volume of 3,669,574. The firm has a market capitalization of $735.76 billion, a P/E ratio of 63.10, a P/E/G ratio of 1.14 and a beta of 0.40. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18. The company has a 50-day moving average price of $778.38 and a 200-day moving average price of $799.85. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year 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 analysts' consensus estimates of $4.64 by ($1.30). The firm had revenue of $12.73 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period last year, the firm posted $2.58 EPS. On average, equities analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors 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 yield of 0.77%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

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.