Modera Wealth Management LLC Has $41.47 Million Holdings in Eli Lilly and Company (NYSE:LLY)

Key Points

• Modera Wealth Management LLC decreased its stake in Eli Lilly and Company by 2.4% in the first quarter, ending up with holdings worth $41.47 million.
• Eli Lilly's recent quarterly earnings report revealed an EPS of $3.34, missing estimates, while its revenue of $12.73 billion slightly fell short of expectations.
• The company announced a quarterly dividend of $1.50 per share, reflecting an annualized dividend yield of 0.79% and a payout ratio of 48.82%.

Modera Wealth Management LLC cut its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 2.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,214 shares of the company's stock after selling 1,236 shares during the quarter. Modera Wealth Management LLC's holdings in Eli Lilly and Company were worth $41,472,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. WestEnd Advisors LLC grew 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 buying an additional 21 shares during the last quarter. Citizens National Bank Trust Department grew its stake 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 last quarter. Financial Gravity Asset Management Inc. acquired a new position in Eli Lilly and Company in the 1st quarter valued at about $40,000. Mascagni Wealth Management Inc. acquired a new position in Eli Lilly and Company in the 4th quarter valued at about $43,000. Finally, O Brien Wealth Partners LLC grew its stake in Eli Lilly and Company by 25.5% in 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. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Trading Down 0.4%

Shares of LLY stock traded down $3.19 during trading hours on Wednesday, hitting $759.76. 4,331,834 shares of the company's stock traded hands, compared to its average volume of 2,949,040. The stock's 50 day simple moving average is $774.07 and its 200 day simple moving average is $800.13. The stock has a market cap of $720.05 billion, a PE ratio of 61.82, a price-to-earnings-growth ratio of 1.08 and a beta of 0.40. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. 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 released 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). The business had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. Eli Lilly and Company's revenue was up 45.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.58 EPS. On average, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

Analyst Upgrades and Downgrades

LLY has been the topic of a number of analyst reports. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. Wall Street Zen upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Saturday. Guggenheim increased their target price on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. UBS Group cut their price target on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price target 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 MarketBeat, Eli Lilly and Company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.