Eli Lilly and Company (NYSE:LLY) Shares Sold by Family Legacy Inc.

Family Legacy Inc. reduced its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 8.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,245 shares of the company's stock after selling 670 shares during the period. Eli Lilly and Company makes up 2.1% of Family Legacy Inc.'s holdings, making the stock its 7th biggest position. Family Legacy Inc.'s holdings in Eli Lilly and Company were worth $5,984,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LLY. FWG Holdings LLC raised its holdings in shares of Eli Lilly and Company by 0.6% during the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company's stock worth $1,640,000 after acquiring an additional 12 shares during the period. Morling Financial Advisors LLC increased its position in Eli Lilly and Company by 4.7% during the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock worth $205,000 after purchasing an additional 12 shares during the last quarter. Prestige Wealth Management Group LLC raised its stake in Eli Lilly and Company by 2.0% during 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 during the period. Applied Finance Capital Management LLC raised its stake in 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 worth $660,000 after purchasing an additional 12 shares during the period. Finally, Garner Asset Management Corp boosted its holdings in Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company's stock valued at $411,000 after purchasing an additional 12 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Erste Group Bank downgraded shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their target price for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their price target for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Cantor Fitzgerald assumed coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price target for the company. 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 seventeen have given a buy rating to the company's stock. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average target price of $1,011.61.

Eli Lilly and Company Stock Up 0.5%

Shares of Eli Lilly and Company stock traded up $3.67 during trading hours on Thursday, reaching $795.97. 3,111,617 shares of the company were exchanged, compared to its average volume of 3,667,946. The firm has a market cap of $754.37 billion, a PE ratio of 64.77, a PEG ratio of 1.14 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 1 year low of $677.09 and a 1 year high of $972.53. The stock's fifty day moving average is $782.41 and its 200 day moving average is $800.16.

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). The company had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The company's revenue for the quarter was up 45.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.58 earnings per share. As a group, equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.75%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

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.