Wedmont Private Capital Increases Stock Position in Eli Lilly and Company (NYSE:LLY)

Wedmont Private Capital raised its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,668 shares of the company's stock after acquiring an additional 519 shares during the period. Eli Lilly and Company accounts for approximately 0.6% of Wedmont Private Capital's portfolio, making the stock its 27th largest position. Wedmont Private Capital's holdings in Eli Lilly and Company were worth $12,114,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in LLY. FWG Holdings LLC grew its position in Eli Lilly and Company by 0.6% during the 4th quarter. FWG Holdings LLC now owns 2,023 shares of the company's stock worth $1,640,000 after purchasing an additional 12 shares during the last quarter. Morling Financial Advisors LLC grew its holdings in shares of Eli Lilly and Company by 4.7% during the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock worth $205,000 after buying an additional 12 shares during the last quarter. Prestige Wealth Management Group LLC increased its position in Eli Lilly and Company by 2.0% in the 4th quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company's stock valued at $468,000 after acquiring an additional 12 shares during the period. Applied Finance Capital Management LLC raised its stake in Eli Lilly and Company by 1.4% during the 4th quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock valued at $660,000 after acquiring an additional 12 shares during the last quarter. Finally, Garner Asset Management Corp lifted its position in Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after acquiring an additional 12 shares during the period. Hedge funds and other institutional investors own 82.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Hsbc Global Res cut shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. HSBC downgraded shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their target price for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. Finally, The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their price target for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,011.37.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the business's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. The trade was a 14.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.13% of the stock is currently owned by corporate insiders.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $770.00 on Friday. The firm has a market capitalization of $729.76 billion, a PE ratio of 65.76, a P/E/G ratio of 1.40 and a beta of 0.40. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The firm's 50-day simple moving average is $770.87 and its 200 day simple moving average is $800.27. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced 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 business had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The business's revenue was up 45.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.58 EPS. On average, equities research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Friday, May 16th. Eli Lilly and Company's dividend payout ratio is presently 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.

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