Washington Trust Bank Sells 531 Shares of Eli Lilly and Company (NYSE:LLY)

Washington Trust Bank cut its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 7.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,081 shares of the company's stock after selling 531 shares during the quarter. Washington Trust Bank's holdings in Eli Lilly and Company were worth $5,848,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LLY. WestEnd Advisors LLC raised its stake in 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 purchasing an additional 21 shares in the last quarter. Citizens National Bank Trust Department grew its holdings in shares of Eli Lilly and Company by 180.0% during the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after purchasing an additional 27 shares during the last quarter. Mascagni Wealth Management Inc. bought a new stake in shares of Eli Lilly and Company during the fourth quarter worth about $43,000. Prudent Man Investment Management Inc. bought a new stake in shares of Eli Lilly and Company during the fourth quarter worth about $48,000. Finally, O Brien Wealth Partners LLC grew 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 last quarter. 82.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wall Street Zen cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. Erste Group Bank cut Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their price target for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. Guggenheim restated a "buy" rating and set a $936.00 price target on shares of Eli Lilly and Company in a report on Friday, June 20th. Finally, Cantor Fitzgerald assumed coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 target price on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,011.61.

Eli Lilly and Company Price Performance

NYSE LLY traded up $5.05 during trading hours on Tuesday, hitting $777.92. The company had a trading volume of 3,299,275 shares, compared to its average volume of 3,662,176. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The firm has a 50 day simple moving average of $771.52 and a 200 day simple moving average of $800.30. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. The firm has a market capitalization of $737.26 billion, a price-to-earnings ratio of 63.30, a PEG ratio of 1.14 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued 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 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 revenue was up 45.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.58 EPS. Equities research 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 announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's dividend payout ratio is currently 48.82%.

Eli Lilly and Company 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.