Focus Financial Network Inc. Sells 839 Shares of Eli Lilly and Company (NYSE:LLY)

Focus Financial Network Inc. cut its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 8.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,605 shares of the company's stock after selling 839 shares during the quarter. Focus Financial Network Inc.'s holdings in Eli Lilly and Company were worth $7,107,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after purchasing an additional 14,852,076 shares in the last quarter. Norges Bank bought a new position in Eli Lilly and Company in the 4th quarter worth $8,407,908,000. Proficio Capital Partners LLC increased its stake in Eli Lilly and Company by 100,387.1% in the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company's stock worth $4,016,110,000 after buying an additional 5,197,038 shares in the last quarter. Wellington Management Group LLP raised its holdings 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 acquiring an additional 2,012,129 shares during the period. Finally, Capital International Investors raised its holdings in Eli Lilly and Company by 23.2% during the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company's stock valued at $6,740,272,000 after acquiring an additional 1,645,222 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Cantor Fitzgerald assumed coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price objective for the company. Morgan Stanley reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Guggenheim reissued a "buy" rating on shares of Eli Lilly and Company in a report on Friday, May 23rd. The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their target price for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Finally, Hsbc Global Res cut shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,011.37.

Eli Lilly and Company Trading Up 0.8%

Shares of Eli Lilly and Company stock traded up $6.39 on Thursday, reaching $815.00. The company had a trading volume of 1,056,429 shares, compared to its average volume of 3,640,914. The firm has a market cap of $772.40 billion, a price-to-earnings ratio of 69.60, a P/E/G ratio of 1.40 and a beta of 0.41. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The firm's 50-day moving average price is $771.74 and its two-hundred day moving average price is $800.91. 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 data on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The firm had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. During the same period in the previous year, the firm earned $2.58 earnings per share. The firm's quarterly revenue was up 45.2% compared to the same quarter last year. As a group, research analysts predict 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 was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date was Friday, May 16th. Eli Lilly and Company's dividend payout ratio (DPR) is currently 48.82%.

Eli Lilly and 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.