WBH Advisory Inc. Sells 574 Shares of Eli Lilly and Company (NYSE:LLY)

Key Points

• WBH Advisory Inc. lowered its stake in Eli Lilly and Company by 6.4%, now owning 8,400 shares valued at approximately $6.94 million.
• Eli Lilly's stock is currently down 14.2%, with a trading price around $640.17, compared to a 12-month high of $972.53.
• The company reported earnings of $6.31 per share for the last quarter, exceeding expectations and marking a 37.6% annual revenue increase.

WBH Advisory Inc. lowered its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 6.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 8,400 shares of the company's stock after selling 574 shares during the period. WBH Advisory Inc.'s holdings in Eli Lilly and Company were worth $6,938,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LLY. WestEnd Advisors LLC increased its stake in shares of Eli Lilly and Company by 210.0% in the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after acquiring an additional 21 shares in the last quarter. Citizens National Bank Trust Department increased its stake in Eli Lilly and Company by 180.0% during the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after purchasing an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new stake in Eli Lilly and Company during the 1st quarter valued at $40,000. Mascagni Wealth Management Inc. bought a new stake in Eli Lilly and Company during the 4th quarter valued at $43,000. Finally, O Brien Wealth Partners LLC increased its stake in Eli Lilly and Company by 25.5% during the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock valued at $49,000 after purchasing an additional 12 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LLY. Leerink Partners reiterated a "market perform" rating and issued a $715.00 target price on shares of Eli Lilly and Company in a research note on Thursday. 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. Morgan Stanley reiterated an "overweight" rating and issued a $1,135.00 target price (up previously from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. Wall Street Zen upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $990.89.

Insider Activity

In other Eli Lilly and Company news, Director Jamere Jackson acquired 200 shares of Eli Lilly and Company stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average cost of $639.56 per share, for a total transaction of $127,912.00. Following the acquisition, the director owned 9,402 shares of the company's stock, valued at $6,013,143.12. This represents a 2.17% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Trading Down 2.5%

Shares of Eli Lilly and Company stock traded down $15.71 on Friday, hitting $625.15. The stock had a trading volume of 14,089,857 shares, compared to its average volume of 4,833,475. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18. Eli Lilly and Company has a one year low of $623.78 and a one year high of $972.53. The stock has a market cap of $592.48 billion, a price-to-earnings ratio of 40.86, a PEG ratio of 0.91 and a beta of 0.44. The stock's 50-day simple moving average is $774.10 and its two-hundred day simple moving average is $798.80.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $6.31 EPS for the quarter, topping analysts' consensus estimates of $5.59 by $0.72. Eli Lilly and Company had a return on equity of 98.25% and a net margin of 25.91%. The company had revenue of $15.56 billion during the quarter, compared to analyst estimates of $14.40 billion. During the same quarter last year, the firm posted $3.92 earnings per share. The firm's revenue was up 37.6% on a year-over-year basis. As a group, sell-side analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's payout ratio is currently 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.