Hunter Associates Investment Management LLC Cuts Stock Position in Eli Lilly and Company (NYSE:LLY)

Hunter Associates Investment Management LLC decreased its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 9.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,014 shares of the company's stock after selling 802 shares during the period. Eli Lilly and Company comprises approximately 1.0% of Hunter Associates Investment Management LLC's holdings, making the stock its 26th largest holding. Hunter Associates Investment Management LLC's holdings in Eli Lilly and Company were worth $6,619,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in LLY. WestEnd Advisors LLC boosted its position in Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after purchasing an additional 21 shares in the last quarter. Citizens National Bank Trust Department boosted its position in Eli Lilly and Company by 180.0% during the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after purchasing an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new stake in Eli Lilly and Company during the first quarter valued at about $40,000. Mascagni Wealth Management Inc. bought a new stake in Eli Lilly and Company during the fourth quarter valued at about $43,000. Finally, Prudent Man Investment Management Inc. bought a new stake in Eli Lilly and Company during the fourth quarter valued at about $48,000. Hedge funds and other institutional investors own 82.53% of the company's stock.

Wall Street Analyst Weigh In

LLY has been the topic of a number of recent research reports. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Cantor Fitzgerald initiated coverage on 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. HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their price objective for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. Erste Group Bank downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Finally, Wall Street Zen downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,012.56.

Eli Lilly and Company Stock Performance

LLY stock traded up $2.69 during trading on Friday, hitting $793.34. 2,851,585 shares of the company traded hands, compared to its average volume of 3,675,715. The stock's 50-day simple moving average is $766.39 and its 200 day simple moving average is $800.02. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. The company has a market cap of $751.88 billion, a PE ratio of 64.55, a P/E/G ratio of 1.16 and a beta of 0.40. 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 announced 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). The company had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The firm's revenue was up 45.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.58 earnings per share. On average, equities analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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 given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is presently 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.