Eli Lilly and Company (NYSE:LLY) Shares Sold by GraniteShares Advisors LLC

GraniteShares Advisors LLC cut its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 9.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,131 shares of the company's stock after selling 331 shares during the period. GraniteShares Advisors LLC's holdings in Eli Lilly and Company were worth $2,586,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. boosted its position in shares of Eli Lilly and Company by 358.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company's stock valued at $45,000 after acquiring an additional 43 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new position in Eli Lilly and Company in the 4th quarter valued at about $43,000. Prudent Man Investment Management Inc. acquired a new position in Eli Lilly and Company in the 4th quarter valued at about $48,000. Capital A Wealth Management LLC purchased a new stake in shares of Eli Lilly and Company in the 4th quarter valued at approximately $63,000. Finally, Bellwether Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $66,000. Institutional investors and hedge funds own 82.53% of the company's stock.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of recent analyst reports. UBS Group decreased 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 research report on Friday, May 2nd. Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Guggenheim reissued a "buy" rating on shares of Eli Lilly and Company in a research report on Friday, May 23rd. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,011.37.

Eli Lilly and Company Stock Up 0.8%

Shares of NYSE:LLY traded up $6.53 on Friday, hitting $818.56. 2,753,537 shares of the company's stock were exchanged, compared to its average volume of 3,651,762. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The company has a market capitalization of $775.78 billion, a PE ratio of 69.90, 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 quick ratio of 0.97 and a current ratio of 1.15. The firm's 50-day moving average is $773.53 and its 200 day moving average is $801.30.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced 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). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The business had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same period last year, the company earned $2.58 earnings per share. The business's revenue for the quarter was up 45.2% compared to the same quarter last year. Sell-side analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were given a $1.50 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a yield of 0.73%. 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.