GLOBALT Investments LLC GA Sells 444 Shares of Eli Lilly and Company (NYSE:LLY)

Key Points

• GLOBALT Investments LLC GA has reduced its stake in Eli Lilly and Company by 2.8%, now holding 15,289 shares, following the sale of 444 shares.
• Eli Lilly reported $3.34 EPS for the last quarter, missing estimates by $1.30, but still saw revenue growth of 45.2% year-over-year.
• The company announced a quarterly dividend of $1.50 per share, with the ex-dividend date set for August 15th, resulting in a 0.74% dividend yield.

GLOBALT Investments LLC GA trimmed its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 2.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,289 shares of the company's stock after selling 444 shares during the period. Eli Lilly and Company makes up about 0.5% of GLOBALT Investments LLC GA's portfolio, making the stock its 25th biggest position. GLOBALT Investments LLC GA's holdings in Eli Lilly and Company were worth $12,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Garner Asset Management Corp grew its stake in shares of Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock valued at $411,000 after buying an additional 12 shares during the last quarter. Applied Finance Capital Management LLC grew its stake in shares of 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 valued at $660,000 after buying an additional 12 shares during the last quarter. Tobias Financial Advisors Inc. grew its stake in shares of Eli Lilly and Company by 4.1% during the fourth quarter. Tobias Financial Advisors Inc. now owns 307 shares of the company's stock valued at $237,000 after buying an additional 12 shares during the last quarter. Redwood Investments LLC grew its stake in shares of Eli Lilly and Company by 0.5% during the fourth quarter. Redwood Investments LLC now owns 2,209 shares of the company's stock valued at $1,705,000 after buying an additional 12 shares during the last quarter. Finally, Hobbs Wealth Management LLC grew its stake in shares of Eli Lilly and Company by 0.8% during the first quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company's stock valued at $1,205,000 after buying an additional 12 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Up 0.8%

Shares of NYSE LLY opened at $811.73 on Friday. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53. The stock's fifty day simple moving average is $771.95 and its two-hundred day simple moving average is $800.41. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. The stock has a market capitalization of $769.31 billion, a PE ratio of 66.05, a price-to-earnings-growth ratio of 1.16 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued 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 net margin of 22.67% and a return on equity of 85.51%. The business had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. During the same quarter in the prior year, the company posted $2.58 EPS. The business's revenue for the quarter was up 45.2% on a year-over-year basis. As a group, analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend 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 is presently 48.82%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on LLY shares. Wall Street Zen raised 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 reduced their price objective for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Guggenheim raised their price objective on Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, Morgan Stanley restated an "overweight" rating and set a $1,135.00 price objective (up from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,012.56.

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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