Heritage Wealth Management Inc. Sells 654 Shares of Eli Lilly and Company (NYSE:LLY)

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

A number of other institutional investors also recently added to or reduced their stakes in the company. Garner Asset Management Corp lifted its holdings in Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after buying an additional 12 shares during the last quarter. Brighton Jones LLC increased its holdings in shares of Eli Lilly and Company by 22.0% in the 4th quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock valued at $7,409,000 after acquiring an additional 1,730 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in Eli Lilly and Company by 2.8% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock worth $1,136,000 after purchasing an additional 40 shares during the last quarter. Orion Capital Management LLC boosted its holdings in Eli Lilly and Company by 2.5% in the fourth quarter. Orion Capital Management LLC now owns 1,610 shares of the company's stock valued at $1,243,000 after purchasing an additional 40 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG boosted its holdings in Eli Lilly and Company by 4.1% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 64,758 shares of the company's stock valued at $49,993,000 after purchasing an additional 2,568 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wall Street Zen cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. UBS Group lowered 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. Hsbc Global Res downgraded shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price objective on the stock. Finally, Morgan Stanley restated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,011.61.

Eli Lilly and Company Price Performance

NYSE:LLY traded down $7.85 during mid-day trading on Monday, hitting $772.82. 2,575,478 shares of the company's stock traded hands, compared to its average volume of 3,663,617. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53. 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 firm's 50 day simple moving average is $773.61 and its 200 day simple moving average is $800.26. The company has a market cap of $732.43 billion, a PE ratio of 62.88, a price-to-earnings-growth ratio of 1.14 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The company 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 business posted $2.58 EPS. The business's quarterly revenue was up 45.2% on a year-over-year basis. Sell-side analysts expect that Eli Lilly and Company will post 23.48 EPS for the current 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 $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is presently 48.82%.

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.