Eli Lilly and Company (NYSE:LLY) Shares Sold by Nwam LLC

Nwam LLC cut its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 87.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,707 shares of the company's stock after selling 11,997 shares during the period. Nwam LLC's holdings in Eli Lilly and Company were worth $1,410,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Garner Asset Management Corp grew its position in shares of Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock valued at $411,000 after purchasing an additional 12 shares in the last quarter. Brighton Jones LLC grew its position in Eli Lilly and Company by 22.0% in the fourth quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock worth $7,409,000 after acquiring an additional 1,730 shares in the last quarter. Revolve Wealth Partners LLC grew its position in Eli Lilly and Company by 2.8% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock worth $1,136,000 after acquiring an additional 40 shares in the last quarter. Orion Capital Management LLC grew its position in Eli Lilly and Company by 2.5% in the fourth quarter. Orion Capital Management LLC now owns 1,610 shares of the company's stock worth $1,243,000 after acquiring an additional 40 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG grew its position in Eli Lilly and Company by 4.1% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 64,758 shares of the company's stock worth $49,993,000 after acquiring an additional 2,568 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 1.3%

Shares of NYSE:LLY traded up $10.28 during trading on Friday, hitting $771.78. The company's stock had a trading volume of 3,351,657 shares, compared to its average volume of 3,664,442. The business has a 50 day moving average price of $767.03 and a two-hundred day moving average price of $800.02. 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 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 fifty-two week low of $677.09 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its 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 during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the previous year, the firm posted $2.58 earnings per share. As a group, research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend 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%.

Analyst Ratings Changes

A number of brokerages recently issued reports on LLY. Guggenheim raised their price target on Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price target for the company. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their price target for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. Wall Street Zen lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. Finally, Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the 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.