Tower Bridge Advisors Lowers Stake in Eli Lilly and Company (NYSE:LLY)

Key Points

• Tower Bridge Advisors reduced its stake in Eli Lilly and Company (NYSE: LLY) by 11.1%, owning 6,946 shares valued at approximately $5.74 million after selling 868 shares in Q1.
• The company recently reported earnings of $3.34 per share, missing estimates by $1.30, with quarterly revenue of $12.73 billion, slightly under the projected $12.77 billion.
• Eli Lilly announced a quarterly dividend of $1.50 per share, payable on September 10th, representing an annualized dividend yield of 0.79%.

Tower Bridge Advisors trimmed its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 11.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,946 shares of the company's stock after selling 868 shares during the period. Tower Bridge Advisors' holdings in Eli Lilly and Company were worth $5,737,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bristol Gate Capital Partners Inc. purchased a new position in Eli Lilly and Company during the 1st quarter valued at about $97,685,000. Baader Bank Aktiengesellschaft lifted its position in Eli Lilly and Company by 23.3% during the 1st quarter. Baader Bank Aktiengesellschaft now owns 5,291 shares of the company's stock valued at $4,238,000 after acquiring an additional 1,001 shares during the period. Dearborn Partners LLC lifted its position in Eli Lilly and Company by 3.6% during the 1st quarter. Dearborn Partners LLC now owns 5,122 shares of the company's stock valued at $4,230,000 after acquiring an additional 180 shares during the period. Arkadios Wealth Advisors lifted its position in Eli Lilly and Company by 82.6% during the 1st quarter. Arkadios Wealth Advisors now owns 12,320 shares of the company's stock valued at $10,175,000 after acquiring an additional 5,572 shares during the period. Finally, Delap Wealth Advisory LLC lifted its position in Eli Lilly and Company by 167.1% during the 1st quarter. Delap Wealth Advisory LLC now owns 1,330 shares of the company's stock valued at $1,098,000 after acquiring an additional 832 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

NYSE LLY traded down $3.19 during trading hours on Wednesday, hitting $759.76. 4,331,834 shares of the company's stock traded hands, compared to its average volume of 2,949,040. The business's fifty day moving average price is $774.07 and its two-hundred day moving average price is $800.13. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. The firm has a market capitalization of $720.05 billion, a P/E ratio of 61.82, a P/E/G ratio of 1.08 and a beta of 0.40. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its earnings results 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 business had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The business's quarterly revenue was up 45.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.58 earnings per share. Equities research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced 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 yield of 0.79%. Eli Lilly and Company's dividend payout ratio (DPR) is 48.82%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. 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 target for the company. UBS Group reduced their price objective 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 research note on Friday, May 2nd. Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Guggenheim raised 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 note on Friday, July 11th. Finally, Hsbc Global Res lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,012.56.

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.