Eli Lilly and Company (NYSE:LLY) Shares Sold by Keyvantage Wealth LLC

Key Points

• Keyvantage Wealth LLC decreased its stake in Eli Lilly and Company by 50.6%, now holding 619 shares valued at $511,000.
• Despite some hedge funds increasing their positions, the company's stock was met with mixed analyst ratings, with a consensus of "Moderate Buy" and a price target around $1,012.56.
• Eli Lilly's recent quarterly earnings report indicated earnings per share of $3.34, missing estimates, but a 45.2% year-over-year revenue increase to $12.73 billion was noted.

Keyvantage Wealth LLC reduced its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 50.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 619 shares of the company's stock after selling 634 shares during the quarter. Keyvantage Wealth LLC's holdings in Eli Lilly and Company were worth $511,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. WestEnd Advisors LLC increased its stake in shares of Eli Lilly and Company by 210.0% in the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after acquiring an additional 21 shares during the last quarter. Citizens National Bank Trust Department increased its stake in shares of Eli Lilly and Company by 180.0% in the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after acquiring an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of Eli Lilly and Company in the 1st quarter worth $40,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Eli Lilly and Company in the 4th quarter worth $43,000. Finally, O Brien Wealth Partners LLC increased its stake in shares of Eli Lilly and Company by 25.5% in the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock worth $49,000 after acquiring an additional 12 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Stock Up 0.3%

Shares of NYSE:LLY traded up $2.10 during trading on Wednesday, hitting $765.05. 1,985,783 shares of the company were exchanged, compared to its average volume of 3,770,230. The stock has a market capitalization of $725.06 billion, a P/E ratio of 62.23, a PEG ratio of 1.15 and a beta of 0.40. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53. The firm's 50 day moving average price is $773.36 and its 200-day moving average price is $800.41.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings data 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 return on equity of 85.51% and a net margin of 22.67%. The firm's quarterly revenue was up 45.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.58 EPS. On average, research analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is currently 48.82%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LLY. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their target price for the stock from $892.00 to $888.00 in a research note 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 research report on Friday, July 11th. Morgan Stanley reissued 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 research report on Thursday, July 10th. Cantor Fitzgerald began 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 for the company. Finally, Wall Street Zen raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.