Sharpepoint LLC Sells 2,220 Shares of Eli Lilly and Company (NYSE:LLY)

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

Several other hedge funds have also recently added to or reduced their stakes in the business. Knightsbridge Asset Management LLC boosted its position in Eli Lilly and Company by 1.9% during the 4th quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock worth $628,000 after acquiring an additional 15 shares during the period. LS Investment Advisors LLC lifted its holdings in shares of Eli Lilly and Company by 1.7% during the first quarter. LS Investment Advisors LLC now owns 2,340 shares of the company's stock valued at $1,933,000 after acquiring an additional 40 shares during the period. CSM Advisors LLC increased its stake in shares of Eli Lilly and Company by 30.6% in the fourth quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock valued at $807,000 after buying an additional 245 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in shares of Eli Lilly and Company by 30.2% in the 4th quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company's stock valued at $5,202,000 after purchasing an additional 1,562 shares during the last quarter. Finally, Bfsg LLC raised its position in shares of Eli Lilly and Company by 1.4% in the 1st quarter. Bfsg LLC now owns 2,959 shares of the company's stock valued at $2,444,000 after acquiring an additional 42 shares during the period. Institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Trading Up 1.2%

Shares of Eli Lilly and Company stock opened at $787.00 on Thursday. 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 cap of $745.87 billion, a PE ratio of 64.04, a P/E/G ratio of 1.14 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 has a fifty day moving average price of $767.12 and a 200-day moving average price of $800.05.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The business had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same quarter in the prior year, the business earned $2.58 EPS. Eli Lilly and Company's revenue for the quarter was up 45.2% compared to the same quarter last year. Equities research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.76%. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on LLY. Wells Fargo & Company reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Wall Street Zen downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. Morgan Stanley reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their target price for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. Finally, Guggenheim reiterated a "buy" rating and issued a $936.00 price objective on shares of Eli Lilly and Company in a report on Friday, June 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of "Moderate Buy" and an average target price of $1,011.61.

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.

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