Meridian Wealth Advisors LLC Lowers Holdings in Eli Lilly and Company (NYSE:LLY)

Meridian Wealth Advisors LLC trimmed its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 6.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,404 shares of the company's stock after selling 459 shares during the period. Meridian Wealth Advisors LLC's holdings in Eli Lilly and Company were worth $5,289,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. WestEnd Advisors LLC raised its stake in Eli Lilly and Company by 210.0% in the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after purchasing an additional 21 shares during the last quarter. Citizens National Bank Trust Department grew its holdings in 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 valued at $35,000 after buying an additional 27 shares during the period. Financial Gravity Asset Management Inc. purchased a new stake in Eli Lilly and Company in the 1st quarter valued at about $40,000. Mascagni Wealth Management Inc. purchased a new stake in Eli Lilly and Company in the 4th quarter valued at about $43,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in Eli Lilly and Company in 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 Trading Up 1.3%

NYSE LLY opened at $771.78 on Friday. The company has a market cap of $731.45 billion, a price-to-earnings ratio of 62.80, a price-to-earnings-growth ratio of 1.12 and a beta of 0.40. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The business's fifty day moving average is $767.03 and its 200 day moving average is $800.02. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. During the same period in the previous year, the firm earned $2.58 earnings per share. The business's quarterly revenue was up 45.2% on a year-over-year basis. As a group, sell-side analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

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 $1.50 dividend. The ex-dividend date is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.78%. Eli Lilly and Company's payout ratio is presently 48.82%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on LLY shares. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Wall Street Zen lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. Guggenheim upped their price target on Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a research report on Friday, July 11th. HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their price objective for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Finally, Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,012.56.

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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