Mezzasalma Advisors LLC Trims Position in Eli Lilly and Company (NYSE:LLY)

Mezzasalma Advisors LLC cut its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 11.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,144 shares of the company's stock after selling 890 shares during the quarter. Eli Lilly and Company comprises approximately 2.0% of Mezzasalma Advisors LLC's portfolio, making the stock its 13th largest holding. Mezzasalma Advisors LLC's holdings in Eli Lilly and Company were worth $5,900,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Eli Lilly and Company by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company's stock valued at $57,320,226,000 after purchasing an additional 475,530 shares during the period. Geode Capital Management LLC increased its stake in shares of Eli Lilly and Company by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock worth $13,389,651,000 after acquiring an additional 291,875 shares during the period. GAMMA Investing LLC increased its stake in shares of Eli Lilly and Company by 103,831.6% during the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after acquiring an additional 14,852,076 shares during the period. Wellington Management Group LLP increased its stake in shares of Eli Lilly and Company by 19.0% during the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after acquiring an additional 2,012,129 shares during the period. Finally, Norges Bank acquired a new position in shares of Eli Lilly and Company during the fourth quarter worth about $8,407,908,000. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LLY has been the topic of a number of recent analyst reports. Erste Group Bank lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Wall Street Zen upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Finally, Guggenheim reiterated a "buy" rating on shares of Eli Lilly and Company in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,011.37.

Eli Lilly and Company Price Performance

Shares of LLY stock traded down $6.96 during trading hours on Thursday, hitting $784.28. The company's stock had a trading volume of 2,441,727 shares, compared to its average volume of 3,656,357. The business has a fifty day moving average of $778.55 and a 200-day moving average of $801.58. The stock has a market cap of $743.29 billion, a price-to-earnings ratio of 63.81, a P/E/G ratio of 1.15 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 company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly 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). The business had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The firm's revenue for the quarter was up 45.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.58 earnings per share. As a group, equities research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were given a $1.50 dividend. The ex-dividend date was Friday, May 16th. 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%.

Eli Lilly and Company 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.