First National Advisers LLC Sells 1,881 Shares of Eli Lilly and Company (NYSE:LLY)

Key Points

• First National Advisers LLC reduced its stake in Eli Lilly and Company (NYSE: LLY) by 15.9%, selling 1,881 shares and retaining 9,971 shares, which account for about 1.3% of its portfolio.
• Analysts have mixed opinions on Eli Lilly, with a consensus rating of "Moderate Buy" and a price target averaging $1,012.56, while some firms have upgraded or downgraded their ratings based on recent stock performance.
• Eli Lilly recently reported $3.34 EPS for the quarter, missing estimates, while its revenue was $12.73 billion, reflecting a 45.2% increase compared to the same quarter last year.

First National Advisers LLC reduced its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 15.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,971 shares of the company's stock after selling 1,881 shares during the period. Eli Lilly and Company accounts for about 1.3% of First National Advisers LLC's holdings, making the stock its 12th biggest position. First National Advisers LLC's holdings in Eli Lilly and Company were worth $8,235,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LLY. Knightsbridge Asset Management LLC raised its holdings 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 purchasing an additional 15 shares during the period. LS Investment Advisors LLC increased its position in 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 worth $1,933,000 after buying an additional 40 shares during the last quarter. Prism Advisors Inc. bought a new stake in shares of Eli Lilly and Company in the first quarter valued at $207,000. CSM Advisors LLC lifted its position in shares of Eli Lilly and Company by 30.6% during the 4th quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock valued at $807,000 after buying an additional 245 shares during the last quarter. Finally, Bfsg LLC grew its stake 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 acquiring an additional 42 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on LLY. Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price objective on the stock. Wall Street Zen upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Saturday. UBS Group reduced 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 research note on Friday, May 2nd. Morgan Stanley restated an "overweight" rating and set a $1,135.00 target price (up previously from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. Finally, Hsbc Global Res lowered Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,012.56.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $811.73 on Friday. The firm's fifty day moving average price is $771.95 and its 200-day moving average price is $800.51. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. The stock has a market cap of $769.30 billion, a P/E ratio of 66.05, a price-to-earnings-growth ratio of 1.18 and a beta of 0.40. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53.

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 analysts' consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The firm had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. During the same period in the prior year, the company earned $2.58 EPS. The firm's revenue was up 45.2% compared to the same quarter last year. On average, 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.74%. 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.

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