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

Washington Trust Bank lessened its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 7.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in LLY. FWG Holdings LLC lifted its position in shares of Eli Lilly and Company by 0.6% in the fourth quarter. FWG Holdings LLC now owns 2,023 shares of the company's stock worth $1,640,000 after purchasing an additional 12 shares in the last quarter. Morling Financial Advisors LLC lifted its position in shares of Eli Lilly and Company by 4.7% in the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock worth $205,000 after purchasing an additional 12 shares in the last quarter. Prestige Wealth Management Group LLC lifted its position in shares of Eli Lilly and Company by 2.0% in the fourth quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company's stock worth $468,000 after purchasing an additional 12 shares in the last quarter. Applied Finance Capital Management LLC lifted its position in shares of Eli Lilly and Company by 1.4% in the fourth quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock worth $660,000 after purchasing an additional 12 shares in the last quarter. Finally, Garner Asset Management Corp raised its position in Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after acquiring an additional 12 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LLY. Erste Group Bank lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. Cantor Fitzgerald assumed 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 objective on the stock. 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. Finally, Wall Street Zen downgraded shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Eli Lilly and Company has a consensus rating of "Moderate Buy" and an average target price of $1,012.22.

Eli Lilly and Company Stock Performance

Shares of LLY stock traded up $6.30 on Thursday, hitting $793.22. The company's stock had a trading volume of 2,006,498 shares, compared to its average volume of 3,662,090. 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 stock's 50 day moving average is $767.12 and its 200-day moving average is $800.05. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The company has a market capitalization of $751.77 billion, a PE ratio of 64.54, a PEG ratio of 1.14 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). The firm had revenue of $12.73 billion during 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%. Eli Lilly and Company's quarterly revenue was up 45.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.58 earnings per share. Equities research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.76%. Eli Lilly and Company's dividend payout ratio (DPR) is 48.82%.

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.