Nisa Investment Advisors LLC Cuts Stock Position in Eli Lilly and Company (NYSE:LLY)

Nisa Investment Advisors LLC lowered its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 7.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 243,618 shares of the company's stock after selling 18,740 shares during the period. Eli Lilly and Company makes up 1.0% of Nisa Investment Advisors LLC's portfolio, making the stock its 11th biggest position. Nisa Investment Advisors LLC's holdings in Eli Lilly and Company were worth $201,207,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of LLY. Prestige Wealth Management Group LLC increased its position in shares of Eli Lilly and Company by 2.0% during the 4th quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company's stock worth $468,000 after purchasing an additional 12 shares during the last quarter. Applied Finance Capital Management LLC lifted its position in shares of Eli Lilly and Company by 1.4% during the 4th 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. Garner Asset Management Corp lifted its position in shares of Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after buying an additional 12 shares during the last quarter. Tobias Financial Advisors Inc. increased its holdings in Eli Lilly and Company by 4.1% in the 4th quarter. Tobias Financial Advisors Inc. now owns 307 shares of the company's stock worth $237,000 after purchasing an additional 12 shares in the last quarter. Finally, Redwood Investments LLC increased its holdings in Eli Lilly and Company by 0.5% in the 4th quarter. Redwood Investments LLC now owns 2,209 shares of the company's stock worth $1,705,000 after purchasing an additional 12 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY traded up $2.69 during midday trading on Friday, hitting $793.34. 2,851,585 shares of the stock traded hands, compared to its average volume of 3,675,715. The firm has a 50-day moving average of $766.39 and a two-hundred day moving average of $800.06. The firm has a market capitalization of $751.88 billion, a P/E ratio of 64.55, a PEG ratio of 1.16 and a beta of 0.40. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. Eli Lilly and Company has a one year low of $677.09 and a one year high of $972.53.

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 for the quarter, missing the consensus estimate of $4.64 by ($1.30). The firm 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 quarterly revenue was up 45.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.58 earnings per share. On average, equities analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed 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 of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.76%. Eli Lilly and Company's dividend payout ratio (DPR) is 48.82%.

Analyst Ratings Changes

LLY has been the subject of several recent analyst reports. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Cantor Fitzgerald assumed coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price target for the company. Morgan Stanley reaffirmed an "overweight" rating and set a $1,135.00 price target (up previously from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday. Guggenheim boosted their price target on Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a report on Friday. Finally, UBS Group reduced their target price on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company presently 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.