Laurel Wealth Advisors LLC Reduces Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Laurel Wealth Advisors LLC trimmed its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 4.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,675 shares of the company's stock after selling 731 shares during the quarter. Eli Lilly and Company comprises 1.9% of Laurel Wealth Advisors LLC's investment portfolio, making the stock its 14th biggest position. Laurel Wealth Advisors LLC's holdings in Eli Lilly and Company were worth $12,120,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. lifted 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 worth $45,000 after purchasing an additional 43 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new position in shares of Eli Lilly and Company during the 4th quarter worth approximately $43,000. Prudent Man Investment Management Inc. purchased a new position in shares of Eli Lilly and Company in the 4th quarter valued at about $48,000. Compass Financial Services Inc acquired a new stake in Eli Lilly and Company in the fourth quarter valued at $50,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of Eli Lilly and Company during the 4th quarter worth approximately $63,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LLY has been the topic of a number of recent research reports. The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and reduced their price target for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. Hsbc Global Res cut Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. Erste Group Bank lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Finally, Wall Street Zen upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $1,011.37.

Eli Lilly and Company Stock Up 0.8%

Shares of Eli Lilly and Company stock traded up $6.39 during trading on Thursday, hitting $815.00. 1,056,429 shares of the stock traded hands, compared to its average volume of 3,640,958. The stock's fifty day simple moving average is $771.74 and its 200 day simple moving average is $800.91. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The firm has a market cap of $772.40 billion, a P/E ratio of 69.60, a price-to-earnings-growth ratio of 1.40 and a beta of 0.41. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate 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 company had revenue of $12.73 billion during the quarter, compared to analysts' expectations of $12.77 billion. During the same period in the previous year, the business earned $2.58 earnings per share. The business's revenue for the quarter was up 45.2% compared to the same quarter last year. On average, equities 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 was paid on Tuesday, June 10th. Shareholders 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 dividend yield of 0.74%. Eli Lilly and Company's dividend payout ratio (DPR) is currently 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.