Eli Lilly and Company (NYSE:LLY) Position Lowered by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. decreased its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 72.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 637 shares of the company's stock after selling 1,708 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Eli Lilly and Company were worth $526,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Mascagni Wealth Management Inc. acquired a new stake in Eli Lilly and Company during the 4th quarter valued at $43,000. Prudent Man Investment Management Inc. acquired a new stake in Eli Lilly and Company during the 4th quarter valued at $48,000. Highline Wealth Partners LLC lifted its stake in shares of Eli Lilly and Company by 53.3% during the 1st 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 purchased a new position in shares of Eli Lilly and Company during the 4th quarter worth $63,000. Finally, Bellwether Advisors LLC purchased a new position in shares of Eli Lilly and Company during the 4th quarter worth $66,000. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Down 2.4%

NYSE LLY traded down $18.94 during trading hours on Friday, hitting $776.18. The company had a trading volume of 4,109,419 shares, compared to its average volume of 3,675,426. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The company has a market capitalization of $735.61 billion, a price-to-earnings ratio of 63.16, a P/E/G ratio of 1.16 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. The firm's 50 day moving average is $781.50 and its 200 day moving average is $800.11.

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 (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 during the quarter, compared to analyst estimates of $12.77 billion. During the same quarter in the prior year, the company posted $2.58 earnings per share. The firm's revenue for the quarter was up 45.2% on a year-over-year basis. Sell-side analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.77%. Eli Lilly and Company's dividend payout ratio is presently 48.82%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Guggenheim reissued a "buy" rating and set a $936.00 price target on shares of Eli Lilly and Company in a research note on Friday, June 20th. Morgan Stanley reissued an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. HSBC lowered Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their price target for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Finally, Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,011.61.

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.