NWK Group Inc. Sells 431 Shares of Eli Lilly and Company (NYSE:LLY)

Key Points

• NWK Group Inc. reduced its holdings in Eli Lilly and Company by 2.7%, now owning 15,507 shares worth approximately $12.8 million, making it the fifth-largest position in its portfolio.
• Eli Lilly reported a quarterly earnings per share (EPS) of $6.31, exceeding estimates of $5.59, with revenues of $15.56 billion, a significant increase from the previous year.
• The company announced a quarterly dividend of $1.50 per share, yielding 1.0%, with a payout ratio of 48.82% and payment scheduled for September 10th.

NWK Group Inc. trimmed its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 2.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,507 shares of the company's stock after selling 431 shares during the quarter. Eli Lilly and Company makes up 5.9% of NWK Group Inc.'s portfolio, making the stock its 5th biggest holding. NWK Group Inc.'s holdings in Eli Lilly and Company were worth $12,807,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in LLY. WestEnd Advisors LLC increased its stake in Eli Lilly and Company by 210.0% in the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after purchasing an additional 21 shares during the last quarter. Citizens National Bank Trust Department increased its stake in Eli Lilly and Company by 180.0% in the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after purchasing an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new position in Eli Lilly and Company in the first quarter valued at $40,000. Mascagni Wealth Management Inc. acquired a new position in Eli Lilly and Company in the fourth quarter valued at $43,000. Finally, O Brien Wealth Partners LLC increased its stake in Eli Lilly and Company by 25.5% in the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock valued at $49,000 after purchasing an additional 12 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Eli Lilly and Company news, Director Jamere Jackson bought 200 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were purchased at an average cost of $639.56 per share, for a total transaction of $127,912.00. Following the transaction, the director directly owned 9,402 shares in the company, valued at $6,013,143.12. The trade was a 2.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on LLY shares. UBS Group dropped their target price on Eli Lilly and Company from $1,050.00 to $895.00 and set a "buy" rating for the company in a research note on Friday. Leerink Partnrs downgraded Eli Lilly and Company from a "strong-buy" rating to a "hold" rating in a research report on Thursday. HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their price objective for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. Hsbc Global Res lowered Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. Finally, Wall Street Zen upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $990.89.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY traded down $15.71 during mid-day trading on Friday, hitting $625.15. The company had a trading volume of 14,089,857 shares, compared to its average volume of 4,833,475. The stock has a market cap of $592.48 billion, a price-to-earnings ratio of 40.86, a PEG ratio of 0.89 and a beta of 0.44. Eli Lilly and Company has a 12 month low of $623.78 and a 12 month high of $972.53. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. The firm's 50 day simple moving average is $774.10 and its two-hundred day simple moving average is $799.11.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $6.31 EPS for the quarter, beating the consensus estimate of $5.59 by $0.72. Eli Lilly and Company had a return on equity of 98.25% and a net margin of 25.91%. The firm had revenue of $15.56 billion for the quarter, compared to analysts' expectations of $14.40 billion. During the same period last year, the firm earned $3.92 EPS. The firm's revenue was up 37.6% compared to the same quarter last year. As a group, equities research analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's dividend payout ratio (DPR) is currently 48.82%.

About Eli Lilly and Company

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.