Eli Lilly and Company (NYSE:LLY) Shares Sold by Heritage Wealth Management Inc.

Heritage Wealth Management Inc. decreased its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 6.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 9,208 shares of the company's stock after selling 654 shares during the period. Eli Lilly and Company makes up 2.6% of Heritage Wealth Management Inc.'s holdings, making the stock its 6th largest position. Heritage Wealth Management Inc.'s holdings in Eli Lilly and Company were worth $7,605,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its stake in shares of Eli Lilly and Company by 17.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,112,001 shares of the company's stock valued at $918,413,000 after purchasing an additional 161,665 shares during the period. Drake & Associates LLC lifted its stake in shares of Eli Lilly and Company by 15.4% in the 1st quarter. Drake & Associates LLC now owns 846 shares of the company's stock valued at $699,000 after purchasing an additional 113 shares during the period. Crew Capital Management Ltd. lifted its stake in shares of Eli Lilly and Company by 7.1% in the 1st quarter. Crew Capital Management Ltd. now owns 1,127 shares of the company's stock valued at $931,000 after purchasing an additional 75 shares during the period. Tradewinds LLC. lifted its stake in shares of Eli Lilly and Company by 3.7% in the 1st quarter. Tradewinds LLC. now owns 6,002 shares of the company's stock valued at $4,957,000 after purchasing an additional 215 shares during the period. Finally, Cloud Capital Management LLC acquired a new position in shares of Eli Lilly and Company in the 1st quarter valued at $54,000. Institutional investors and hedge funds own 82.53% of the company's stock.

Eli Lilly and Company Stock Up 2.4%

Shares of Eli Lilly and Company stock traded up $18.18 during trading hours on Tuesday, reaching $791.05. 804,145 shares of the company's stock were exchanged, compared to its average volume of 3,652,613. The company has a 50 day moving average of $771.52 and a two-hundred day moving average of $800.30. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. 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 cap of $749.70 billion, a P/E ratio of 64.36, a P/E/G ratio of 1.14 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly 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). The business had revenue of $12.73 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.58 EPS. On average, sell-side analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given 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 yield of 0.76%. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

Analyst Ratings Changes

LLY has been the topic of a number of analyst reports. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Guggenheim restated a "buy" rating and issued a $936.00 price objective on shares of Eli Lilly and Company in a research report on Friday, June 20th. Erste Group Bank cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Morgan Stanley restated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, HSBC cut shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their price objective for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, Eli Lilly and Company has an average rating of "Moderate Buy" and a consensus target price of $1,011.61.

Eli Lilly and Company 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.