WealthTrust Asset Management LLC Lowers Stake in Eli Lilly and Company (NYSE:LLY)

WealthTrust Asset Management LLC reduced its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 31.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,306 shares of the company's stock after selling 596 shares during the quarter. Eli Lilly and Company makes up approximately 0.8% of WealthTrust Asset Management LLC's investment portfolio, making the stock its 27th largest position. WealthTrust Asset Management LLC's holdings in Eli Lilly and Company were worth $1,079,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. WestEnd Advisors LLC lifted 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 worth $26,000 after acquiring an additional 21 shares during the period. Citizens National Bank Trust Department lifted its stake in Eli Lilly and Company by 180.0% in the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after acquiring an additional 27 shares during the period. Financial Gravity Asset Management Inc. purchased a new stake in Eli Lilly and Company in the first quarter worth about $40,000. Mascagni Wealth Management Inc. purchased a new stake in Eli Lilly and Company in the fourth quarter worth about $43,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in Eli Lilly and Company in the fourth quarter worth about $48,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 0.3%

Shares of LLY opened at $793.34 on Friday. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The company has a market capitalization of $751.88 billion, a PE ratio of 64.55, a price-to-earnings-growth ratio of 1.16 and a beta of 0.40. The stock has a fifty day simple moving average of $766.39 and a two-hundred day simple moving average of $799.99. 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 (NYSE:LLY - Get Free Report) last issued its 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 company had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The firm's revenue was up 45.2% compared to the same quarter last year. During the same period last year, the business earned $2.58 earnings per share. As a group, equities analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed 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. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is 48.82%.

Analyst Ratings Changes

LLY has been the subject of a number of research reports. UBS Group lowered 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. 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. HSBC downgraded shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their price objective for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. Morgan Stanley restated an "overweight" rating and set a $1,135.00 price objective (up previously from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday. 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 given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.

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