Washington Trust Bank Reduces Holdings in Eli Lilly and Company (NYSE:LLY)

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

A number of other institutional investors and hedge funds also recently made changes to their positions in LLY. Garner Asset Management Corp raised its stake in shares of Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock valued at $411,000 after acquiring an additional 12 shares during the last quarter. Brighton Jones LLC raised its stake in shares of Eli Lilly and Company by 22.0% during the fourth quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock valued at $7,409,000 after acquiring an additional 1,730 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Eli Lilly and Company by 2.8% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company's stock valued at $1,136,000 after acquiring an additional 40 shares during the last quarter. Orion Capital Management LLC raised its stake in shares of Eli Lilly and Company by 2.5% during the fourth quarter. Orion Capital Management LLC now owns 1,610 shares of the company's stock valued at $1,243,000 after acquiring an additional 40 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG raised its stake in shares of Eli Lilly and Company by 4.1% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 64,758 shares of the company's stock valued at $49,993,000 after acquiring an additional 2,568 shares during the last quarter. Institutional investors own 82.53% of the company's stock.

Analysts Set New Price Targets

LLY has been the subject of several recent analyst reports. Erste Group Bank cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Wall Street Zen cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. HSBC cut shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their price objective for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. UBS Group decreased 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 report on Friday, May 2nd. Finally, Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of "Moderate Buy" and a consensus target price of $1,011.61.

Eli Lilly and Company Stock Performance

LLY stock traded up $9.34 during mid-day trading on Wednesday, hitting $787.00. The company had a trading volume of 2,701,662 shares, compared to its average volume of 3,668,500. The stock's fifty day moving average price is $769.37 and its two-hundred day moving average price is $800.14. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. 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 cap of $745.87 billion, a PE ratio of 64.04, a price-to-earnings-growth ratio of 1.14 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted 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 firm had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same period last year, the company posted $2.58 EPS. The business's revenue was up 45.2% on a year-over-year basis. On average, analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a $1.50 dividend. 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 payout ratio is 48.82%.

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.