Liberty One Investment Management LLC Cuts Position in Eli Lilly and Company (NYSE:LLY)

Liberty One Investment Management LLC cut its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 4.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,769 shares of the company's stock after selling 1,670 shares during the quarter. Eli Lilly and Company comprises about 3.0% of Liberty One Investment Management LLC's portfolio, making the stock its 11th biggest position. Liberty One Investment Management LLC's holdings in Eli Lilly and Company were worth $29,542,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in LLY. WestEnd Advisors LLC lifted its position in Eli Lilly and Company by 210.0% during 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 period. Citizens National Bank Trust Department lifted its position in Eli Lilly and Company by 180.0% during 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 period. Mascagni Wealth Management Inc. purchased a new position in shares of Eli Lilly and Company during the 4th quarter valued at about $43,000. O Brien Wealth Partners LLC raised its stake in shares of Eli Lilly and Company by 25.5% during the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock valued at $49,000 after buying an additional 12 shares during the last quarter. Finally, 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. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $777.92 on Wednesday. The stock's 50-day moving average is $769.37 and its two-hundred day moving average is $800.14. The firm has a market cap of $737.27 billion, a price-to-earnings ratio of 63.30, a PEG ratio of 1.13 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. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its 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). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The business had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. During the same quarter last year, the company posted $2.58 EPS. Eli Lilly and Company's quarterly revenue was up 45.2% on a year-over-year basis. Analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a yield of 0.77%. Eli Lilly and Company's payout ratio is currently 48.82%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LLY. Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their price objective for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. Guggenheim restated a "buy" rating and issued a $936.00 price target on shares of Eli Lilly and Company in a research report on Friday, June 20th. Morgan Stanley restated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their price objective for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average 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.

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