Sunbelt Securities Inc. reduced its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 23.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,800 shares of the company's stock after selling 563 shares during the quarter. Sunbelt Securities Inc.'s holdings in Eli Lilly and Company were worth $1,486,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Mascagni Wealth Management Inc. purchased a new stake in Eli Lilly and Company in the fourth quarter worth about $43,000. Prudent Man Investment Management Inc. purchased a new stake in Eli Lilly and Company in the fourth quarter worth about $48,000. Highline Wealth Partners LLC lifted its stake in Eli Lilly and Company by 53.3% in the first quarter. Highline Wealth Partners LLC now owns 69 shares of the company's stock worth $57,000 after acquiring an additional 24 shares during the period. Capital A Wealth Management LLC purchased a new stake in Eli Lilly and Company in the fourth quarter worth about $63,000. Finally, Bellwether Advisors LLC purchased a new stake in Eli Lilly and Company in the fourth quarter worth about $66,000. 82.53% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on LLY. Morgan Stanley reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Erste Group Bank downgraded shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and reduced their target price for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Cantor Fitzgerald began coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 target price for the company. Finally, UBS Group reduced their target price on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,011.61.
Check Out Our Latest Stock Analysis on LLY
Eli Lilly and Company Stock Performance
LLY opened at $776.18 on Monday. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. 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 $735.61 billion, a P/E ratio of 63.16, a price-to-earnings-growth ratio of 1.13 and a beta of 0.41. The firm's 50-day moving average price is $780.19 and its 200-day moving average price is $800.08.
Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). The business had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The business's quarterly revenue was up 45.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.58 earnings per share. As a group, equities analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.
Eli Lilly and Company Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a $1.50 dividend. The ex-dividend date is Friday, August 15th. 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 currently 48.82%.
About Eli Lilly and Company
(
Free Report)
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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