Eli Lilly and Company (NYSE:LLY) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lowered its stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 264,349 shares of the company's stock after selling 10,328 shares during the quarter. Janney Montgomery Scott LLC's holdings in Eli Lilly and Company were worth $154,095,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Eli Lilly and Company by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company's stock valued at $37,908,273,000 after acquiring an additional 659,838 shares during the last quarter. Morgan Stanley lifted its stake in shares of Eli Lilly and Company by 0.7% in the 3rd quarter. Morgan Stanley now owns 12,545,572 shares of the company's stock worth $6,738,605,000 after acquiring an additional 83,915 shares during the period. Northern Trust Corp raised its stake in shares of Eli Lilly and Company by 3.6% during the 3rd quarter. Northern Trust Corp now owns 10,158,275 shares of the company's stock worth $5,456,314,000 after buying an additional 355,317 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Eli Lilly and Company by 61,268.8% in the 4th quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company's stock valued at $42,802,530,000 after purchasing an additional 7,330,815 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Eli Lilly and Company by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,560,553 shares of the company's stock valued at $2,658,438,000 after purchasing an additional 125,242 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LLY. Truist Financial upped their target price on Eli Lilly and Company from $850.00 to $892.00 and gave the company a "buy" rating in a report on Wednesday, May 1st. The Goldman Sachs Group upped their price target on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a "neutral" rating in a report on Thursday, April 11th. Cantor Fitzgerald reissued an "overweight" rating and set a $885.00 price objective (up from $815.00) on shares of Eli Lilly and Company in a research note on Tuesday, April 30th. JPMorgan Chase & Co. upped their target price on Eli Lilly and Company from $850.00 to $900.00 and gave the company an "overweight" rating in a research note on Wednesday, May 1st. Finally, Bank of America raised their price target on Eli Lilly and Company from $800.00 to $1,000.00 and gave the stock a "buy" rating in a research report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $769.53.

Eli Lilly and Company Stock Up 3.0 %

LLY stock traded up $23.26 during midday trading on Wednesday, hitting $787.24. 3,036,218 shares of the company's stock were exchanged, compared to its average volume of 3,035,316. The firm has a 50 day moving average price of $760.53 and a 200-day moving average price of $681.53. Eli Lilly and Company has a 12-month low of $419.80 and a 12-month high of $800.78. The stock has a market capitalization of $748.20 billion, a price-to-earnings ratio of 114.55, a price-to-earnings-growth ratio of 1.50 and a beta of 0.37. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The business had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. During the same quarter in the previous year, the firm earned $1.62 earnings per share. The business's revenue was up 26.0% compared to the same quarter last year. On average, analysts anticipate that Eli Lilly and Company will post 13.82 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Thursday, May 16th will be paid a dividend of $1.30 per share. The ex-dividend date is Wednesday, May 15th. This represents a $5.20 annualized dividend and a yield of 0.66%. Eli Lilly and Company's payout ratio is 76.58%.

Eli Lilly and Company 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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