Eli Lilly and Company (NYSE:LLY) Shares Sold by Elk River Wealth Management LLC

Elk River Wealth Management LLC lessened its holdings in Eli Lilly and Company (NYSE:LLY) by 3.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 8,711 shares of the company’s stock after selling 344 shares during the quarter. Eli Lilly and Company comprises about 1.3% of Elk River Wealth Management LLC’s holdings, making the stock its 23rd biggest position. Elk River Wealth Management LLC’s holdings in Eli Lilly and Company were worth $7,195,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in LLY. Mascagni Wealth Management Inc. purchased a new stake in shares of Eli Lilly and Company during the fourth quarter worth approximately $43,000. FPC Investment Advisory Inc. raised its stake in shares of Eli Lilly and Company by 358.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock valued at $45,000 after acquiring an additional 43 shares during the period. Prudent Man Investment Management Inc. purchased a new position in shares of Eli Lilly and Company during the fourth quarter worth $48,000. Compass Financial Services Inc acquired a new position in Eli Lilly and Company in the 4th quarter valued at about $50,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of Eli Lilly and Company in the fourth quarter valued at approximately $63,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LLY has been the topic of a number of analyst reports. Hsbc Global Res lowered Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research report on Monday, April 28th. Cantor Fitzgerald started coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 target price for the company. Wall Street Zen raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Saturday. UBS Group decreased their price target on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Finally, Erste Group Bank cut Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,011.37.

Eli Lilly and Company Stock Up 0.6%

LLY opened at $770.00 on Friday. The firm has a market cap of $729.76 billion, a P/E ratio of 65.76, a price-to-earnings-growth ratio of 1.40 and a beta of 0.40. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The business has a 50 day moving average price of $770.87 and a 200 day moving average price of $799.95. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing analysts’ consensus estimates 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 23.51% and a return on equity of 85.24%. The company’s revenue for the quarter was up 45.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.58 EPS. Research 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 Tuesday, June 10th. Stockholders of record on Friday, May 16th will be paid a $1.50 dividend. The ex-dividend date is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.78%. Eli Lilly and Company’s payout ratio is presently 48.82%.

Insider Activity at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at $4,778,521.60. The trade was a 14.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.13% of the stock is owned by corporate insiders.

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.