Montag A & Associates Inc. Sells 573 Shares of Eli Lilly and Company (NYSE:LLY)

Montag A & Associates Inc. decreased its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,922 shares of the company's stock after selling 573 shares during the quarter. Eli Lilly and Company comprises 0.9% of Montag A & Associates Inc.'s holdings, making the stock its 25th biggest position. Montag A & Associates Inc.'s holdings in Eli Lilly and Company were worth $18,932,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Eli Lilly and Company by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company's stock worth $57,320,226,000 after buying an additional 475,530 shares in the last quarter. Geode Capital Management LLC lifted its holdings in 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 valued at $13,389,651,000 after purchasing an additional 291,875 shares in the last quarter. GAMMA Investing LLC lifted its holdings in 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 valued at $12,278,292,000 after purchasing an additional 14,852,076 shares in the last quarter. Wellington Management Group LLP lifted its holdings in 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 valued at $9,747,214,000 after purchasing an additional 2,012,129 shares in the last quarter. Finally, Norges Bank purchased a new position in Eli Lilly and Company during the fourth quarter valued at $8,407,908,000. Institutional investors and hedge funds own 82.53% of the company's stock.

Eli Lilly and Company Stock Up 1.3%

Shares of NYSE:LLY opened at $771.78 on Friday. The company has a market capitalization of $731.45 billion, a PE ratio of 62.80, a P/E/G ratio of 1.12 and a beta of 0.40. 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 has a twelve month low of $677.09 and a twelve month high of $972.53. The firm has a 50 day simple moving average of $767.03 and a 200-day simple moving average of $800.02.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings data 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 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 analysts' expectations of $12.77 billion. During the same period in the previous year, the business posted $2.58 earnings per share. The company's revenue for the quarter was up 45.2% on a year-over-year basis. On average, equities analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders 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 annualized dividend and a yield of 0.78%. Eli Lilly and Company's dividend payout ratio is currently 48.82%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price target on the stock. Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Morgan Stanley restated an "overweight" rating and set a $1,135.00 price objective (up from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. Finally, Hsbc Global Res cut shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, 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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