Sharpepoint LLC Has $6.38 Million Holdings in Eli Lilly and Company (NYSE:LLY)

Sharpepoint LLC lowered its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 23.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,209 shares of the company's stock after selling 2,220 shares during the period. Eli Lilly and Company accounts for 5.7% of Sharpepoint LLC's portfolio, making the stock its largest position. Sharpepoint LLC's holdings in Eli Lilly and Company were worth $6,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of LLY. WestEnd Advisors LLC grew its holdings in shares of Eli Lilly and Company by 210.0% in the 1st 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 shares of Eli Lilly and Company by 180.0% in the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after buying an additional 27 shares during the period. Mascagni Wealth Management Inc. acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at $43,000. Prudent Man Investment Management Inc. acquired a new position in shares of Eli Lilly and Company in the 4th quarter valued at $48,000. Finally, O Brien Wealth Partners LLC lifted its position in Eli Lilly and Company by 25.5% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock traded down $5.70 during trading hours on Friday, hitting $784.95. The company had a trading volume of 1,698,871 shares, compared to its average volume of 3,662,615. The firm has a market cap of $743.93 billion, a PE ratio of 63.84, a PEG ratio of 1.15 and a beta of 0.40. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. Eli Lilly and Company has a one year low of $677.09 and a one year high of $972.53. The firm has a 50-day moving average of $767.03 and a 200 day moving average of $800.01.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly 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). Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The company had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. During the same period in the prior year, the company earned $2.58 earnings per share. The firm's revenue was up 45.2% compared to the same quarter last year. On average, sell-side analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

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 given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.76%. Eli Lilly and Company's dividend payout ratio is 48.82%.

Analyst Upgrades and Downgrades

Several research firms recently commented on LLY. The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their price objective for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. Guggenheim boosted their price objective on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a research report on Friday. 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. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, Cantor Fitzgerald began 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 target on the stock. One equities research 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 MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.