Rakuten Securities Inc. Trims Stake in Eli Lilly and Company (NYSE:LLY)

Rakuten Securities Inc. trimmed its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 33.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,554 shares of the company's stock after selling 1,758 shares during the period. Eli Lilly and Company makes up 1.5% of Rakuten Securities Inc.'s investment portfolio, making the stock its 15th biggest holding. Rakuten Securities Inc.'s holdings in Eli Lilly and Company were worth $2,935,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. FWG Holdings LLC boosted its holdings in Eli Lilly and Company by 0.6% in the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company's stock valued at $1,640,000 after purchasing an additional 12 shares during the period. Morling Financial Advisors LLC grew its position in Eli Lilly and Company by 4.7% during the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock worth $205,000 after buying an additional 12 shares in the last quarter. Prestige Wealth Management Group LLC increased its stake in Eli Lilly and Company by 2.0% in the 4th quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company's stock worth $468,000 after acquiring an additional 12 shares during the last quarter. Applied Finance Capital Management LLC raised its holdings in shares of Eli Lilly and Company by 1.4% in the 4th quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock valued at $660,000 after acquiring an additional 12 shares in the last quarter. Finally, Garner Asset Management Corp grew its holdings 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 worth $411,000 after purchasing an additional 12 shares in the last quarter. Institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Trading Down 0.9%

Shares of Eli Lilly and Company stock traded down $6.96 during trading on Thursday, reaching $784.28. 2,441,727 shares of the stock were exchanged, compared to its average volume of 3,656,357. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18. The firm has a market cap of $743.29 billion, a price-to-earnings ratio of 63.81, a price-to-earnings-growth ratio of 1.15 and a beta of 0.40. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53. The stock's fifty day moving average is $778.55 and its 200 day moving average is $801.58.

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 business had revenue of $12.73 billion during the quarter, compared to analysts' expectations of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The company's quarterly revenue was up 45.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.58 EPS. As a group, equities research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were issued a $1.50 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $6.00 annualized dividend and a yield of 0.77%. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on LLY shares. HSBC downgraded shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their target price for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. Guggenheim reaffirmed a "buy" rating on shares of Eli Lilly and Company in a report on Friday, May 23rd. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and reduced their target price for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Morgan Stanley reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Finally, Wall Street Zen upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,011.37.

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.