Schear Investment Advisers LLC Sells 1,218 Shares of Eli Lilly and Company (NYSE:LLY)

Schear Investment Advisers LLC decreased its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 14.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,317 shares of the company's stock after selling 1,218 shares during the quarter. Eli Lilly and Company accounts for about 3.5% of Schear Investment Advisers LLC's investment portfolio, making the stock its 5th largest holding. Schear Investment Advisers LLC's holdings in Eli Lilly and Company were worth $6,043,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. WestEnd Advisors LLC lifted its stake in Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after purchasing an additional 21 shares during the last quarter. Citizens National Bank Trust Department lifted its stake in Eli Lilly and Company by 180.0% during the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after purchasing an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. bought a new position in Eli Lilly and Company during the first quarter worth $40,000. Mascagni Wealth Management Inc. bought a new stake in Eli Lilly and Company in the fourth quarter valued at $43,000. Finally, O Brien Wealth Partners LLC boosted its holdings in shares of Eli Lilly and Company by 25.5% during the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock valued at $49,000 after acquiring an additional 12 shares during the period. Institutional investors and hedge funds own 82.53% of the company's stock.

Eli Lilly and Company Trading Up 0.3%

NYSE LLY traded up $2.69 on Friday, hitting $793.34. 2,851,585 shares of the company were exchanged, compared to its average volume of 3,675,715. The company's 50 day moving average price is $766.39 and its 200-day moving average price is $800.02. 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 has a market capitalization of $751.88 billion, a P/E ratio of 64.55, a price-to-earnings-growth ratio of 1.16 and a beta of 0.40. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.64 by ($1.30). The company had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. Eli Lilly and Company's quarterly revenue was up 45.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.58 EPS. Analysts predict 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 will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a dividend of $1.50 per share. The ex-dividend date is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.76%. Eli Lilly and Company's payout ratio is presently 48.82%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LLY. Guggenheim boosted their price target on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a report on Friday. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Hsbc Global Res downgraded shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. Wall Street Zen downgraded shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $1,135.00 price objective (up previously from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,012.56.

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.