Navellier & Associates Inc. cut its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 5.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,556 shares of the company's stock after selling 1,442 shares during the period. Eli Lilly and Company makes up about 2.9% of Navellier & Associates Inc.'s holdings, making the stock its 2nd largest holding. Navellier & Associates Inc.'s holdings in Eli Lilly and Company were worth $20,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in LLY. Garner Asset Management Corp increased its holdings in Eli Lilly and Company by 2.3% in the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock valued at $411,000 after buying an additional 12 shares during the last quarter. Applied Finance Capital Management LLC grew its holdings in shares of Eli Lilly and Company by 1.4% during the fourth quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock worth $660,000 after buying an additional 12 shares during the last quarter. Tobias Financial Advisors Inc. lifted its position in Eli Lilly and Company by 4.1% in the fourth quarter. Tobias Financial Advisors Inc. now owns 307 shares of the company's stock valued at $237,000 after purchasing an additional 12 shares during the period. Redwood Investments LLC lifted its position in Eli Lilly and Company by 0.5% in the fourth quarter. Redwood Investments LLC now owns 2,209 shares of the company's stock valued at $1,705,000 after purchasing an additional 12 shares during the period. Finally, Hobbs Wealth Management LLC lifted its position in Eli Lilly and Company by 0.8% in the first quarter. Hobbs Wealth Management LLC now owns 1,459 shares of the company's stock valued at $1,205,000 after purchasing an additional 12 shares during the period. Hedge funds and other institutional investors own 82.53% of the company's stock.
Eli Lilly and Company Stock Up 0.8%
LLY stock traded up $6.30 during midday trading on Friday, hitting $811.73. The company's stock had a trading volume of 2,976,064 shares, compared to its average volume of 2,810,305. The company's fifty day moving average price is $771.95 and its 200 day moving average price is $800.41. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The stock has a market capitalization of $769.31 billion, a P/E ratio of 66.05, a PEG ratio of 1.16 and a beta of 0.40. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06.
Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its 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 company had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The business's quarterly revenue was up 45.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.58 EPS. As a group, equities research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.
Eli Lilly and Company Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.74%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is 48.82%.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on LLY. Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. HSBC cut shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their price target for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Guggenheim upped their price objective on shares of 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 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. Finally, The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $1,012.56.
View Our Latest Research Report on Eli Lilly and Company
Eli Lilly and Company Profile
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Free Report)
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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