Schnieders Capital Management LLC Decreases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

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Schnieders Capital Management LLC cut its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 8.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,852 shares of the company's stock after selling 667 shares during the quarter. Eli Lilly and Company makes up 1.2% of Schnieders Capital Management LLC's holdings, making the stock its 24th biggest holding. Schnieders Capital Management LLC's holdings in Eli Lilly and Company were worth $5,659,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. WestEnd Advisors LLC increased its stake in shares of 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 buying an additional 21 shares during the period. Citizens National Bank Trust Department grew its holdings in Eli Lilly and Company by 180.0% during the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after acquiring an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new position in Eli Lilly and Company in the 1st quarter valued at approximately $40,000. Mascagni Wealth Management Inc. bought a new position in shares of Eli Lilly and Company during the fourth quarter valued at $43,000. Finally, O Brien Wealth Partners LLC lifted 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 worth $49,000 after purchasing an additional 12 shares during the period. Institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Down 14.2%

LLY stock traded down $106.20 during mid-day trading on Thursday, reaching $640.17. 26,056,463 shares of the company traded hands, compared to its average volume of 3,684,957. The stock has a market cap of $606.71 billion, a price-to-earnings ratio of 52.09, a P/E/G ratio of 1.06 and a beta of 0.44. Eli Lilly and Company has a fifty-two week low of $633.20 and a fifty-two week high of $972.53. The firm's 50 day moving average price is $776.36 and its 200 day moving average price is $799.60. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.59 by $0.72. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The business had revenue of $15.56 billion during the quarter, compared to the consensus estimate of $14.40 billion. During the same quarter in the prior year, the company posted $3.92 earnings per share. Eli Lilly and Company's revenue was up 37.6% compared to the same quarter last year. As a group, equities research analysts predict 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 declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors 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 0.9%. Eli Lilly and Company's payout ratio is 48.82%.

Analysts Set New Price Targets

Several research analysts recently issued reports on LLY shares. Guggenheim raised their target price on Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Erste Group Bank downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Morgan Stanley reaffirmed an "overweight" rating and set a $1,135.00 price target (up previously from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their target price for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. Finally, Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company has an average rating of "Moderate Buy" and a consensus price target of $999.50.

Eli Lilly and 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.