Lazari Capital Management Inc. Decreases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Lazari Capital Management Inc. lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 40.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 686 shares of the company's stock after selling 472 shares during the quarter. Lazari Capital Management Inc.'s holdings in Eli Lilly and Company were worth $567,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Mascagni Wealth Management Inc. bought a new stake in Eli Lilly and Company in the 4th quarter worth approximately $43,000. Prudent Man Investment Management Inc. purchased a new position in shares of Eli Lilly and Company during the 4th quarter valued at about $48,000. Highline Wealth Partners LLC boosted its position in shares of Eli Lilly and Company by 53.3% in the first quarter. Highline Wealth Partners LLC now owns 69 shares of the company's stock worth $57,000 after purchasing an additional 24 shares during the period. Capital A Wealth Management LLC bought a new position in Eli Lilly and Company in the 4th quarter worth $63,000. Finally, Bellwether Advisors LLC purchased a new stake in shares of Eli Lilly and Company during the fourth quarter worth about $66,000. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Up 1.1%

Eli Lilly and Company stock opened at $778.97 on Wednesday. The company's 50-day moving average price is $781.26 and its two-hundred day moving average price is $800.21. 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 $738.26 billion, a price-to-earnings ratio of 63.38, a PEG ratio of 1.13 and a beta of 0.40. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its earnings results 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 22.67% and a return on equity of 85.51%. 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 prior year, the company earned $2.58 earnings per share. The company's revenue for the quarter was up 45.2% on a year-over-year basis. On average, analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a $1.50 dividend. The ex-dividend date is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.77%. Eli Lilly and Company's dividend payout ratio (DPR) is 48.82%.

Wall Street Analysts Forecast Growth

LLY has been the topic of several recent research reports. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Wall Street Zen raised Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Erste Group Bank downgraded shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Morgan Stanley reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Finally, HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their price target for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat.com, Eli Lilly and Company has an average rating of "Moderate Buy" and an average target price of $1,011.61.

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.

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