Perfromance Wealth Partners LLC Sells 36,087 Shares of Eli Lilly and Company (NYSE:LLY)

Perfromance Wealth Partners LLC cut its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 51.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,967 shares of the company's stock after selling 36,087 shares during the period. Eli Lilly and Company makes up approximately 1.0% of Perfromance Wealth Partners LLC's investment portfolio, making the stock its 15th largest position. Perfromance Wealth Partners LLC's holdings in Eli Lilly and Company were worth $28,054,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of 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 purchasing an additional 475,530 shares during the period. Geode Capital Management LLC boosted its stake in shares of Eli Lilly and Company by 1.7% in 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 buying an additional 291,875 shares during the period. GAMMA Investing LLC grew its position 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 worth $12,278,292,000 after buying an additional 14,852,076 shares in the last quarter. Wellington Management Group LLP increased its stake in Eli Lilly and Company by 19.0% during the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after acquiring an additional 2,012,129 shares during the period. Finally, Norges Bank acquired a new position in Eli Lilly and Company in the 4th quarter valued at $8,407,908,000. 82.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and reduced their target price for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. HSBC cut shares of 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 research report on Monday, April 28th. Morgan Stanley reissued an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. 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, Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,011.79.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $763.43 on Friday. The firm's fifty day moving average price is $780.48 and its two-hundred day moving average price is $801.13. The stock has a market cap of $723.53 billion, a PE ratio of 62.12, a PEG ratio of 1.15 and a beta of 0.40. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. 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 (NYSE:LLY - Get Free Report) last released its quarterly earnings data 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 analyst estimates of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The company's revenue was up 45.2% compared to the same quarter last year. During the same period last year, the business earned $2.58 EPS. On average, equities analysts expect 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 announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were given a $1.50 dividend. The ex-dividend date was Friday, May 16th. This represents a $6.00 annualized dividend and a yield of 0.79%. Eli Lilly and Company's dividend payout ratio is presently 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.

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