Sawgrass Asset Management LLC Reduces Position in Eli Lilly and Company (NYSE:LLY)

Sawgrass Asset Management LLC cut its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 8.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,029 shares of the company's stock after selling 1,232 shares during the period. Eli Lilly and Company comprises about 1.4% of Sawgrass Asset Management LLC's investment portfolio, making the stock its 22nd biggest position. Sawgrass Asset Management LLC's holdings in Eli Lilly and Company were worth $11,587,000 as of its most recent filing with the SEC.

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

Eli Lilly and Company Stock Performance

Shares of NYSE:LLY traded up $8.33 during trading on Tuesday, hitting $778.97. 2,773,370 shares of the stock traded hands, compared to its average volume of 3,666,228. 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 company has a market cap of $738.26 billion, a price-to-earnings ratio of 63.38, a P/E/G ratio of 1.11 and a beta of 0.41. The company has a fifty day moving average price of $780.81 and a two-hundred day moving average price of $800.36. Eli Lilly and Company has a 52-week low of $677.09 and a 52-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 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 business's revenue for the quarter was up 45.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.58 earnings per share. As a group, equities analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.77%. Eli Lilly and Company's payout ratio is 48.82%.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of recent research reports. Morgan Stanley reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Hsbc Global Res downgraded Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Guggenheim reissued a "buy" rating and set a $936.00 target price on shares of Eli Lilly and Company in a research report on Friday. HSBC lowered shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their price objective for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Finally, Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $1,011.79.

Eli Lilly and Company 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.