Snider Financial Group Has $9.76 Million Position in Eli Lilly and Company (NYSE:LLY)

Snider Financial Group reduced its position in Eli Lilly and Company (NYSE:LLY) by 0.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,816 shares of the company’s stock after selling 62 shares during the period. Eli Lilly and Company accounts for about 3.2% of Snider Financial Group’s investment portfolio, making the stock its 7th biggest position. Snider Financial Group’s holdings in Eli Lilly and Company were worth $9,759,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. FWG Holdings LLC raised its position in Eli Lilly and Company by 0.6% during the fourth quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock valued at $1,640,000 after purchasing an additional 12 shares during the period. Morling Financial Advisors LLC boosted its position in Eli Lilly and Company by 4.7% during the 4th quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock valued at $205,000 after acquiring an additional 12 shares in the last quarter. Prestige Wealth Management Group LLC boosted its position in Eli Lilly and Company by 2.0% during 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 in the last quarter. Applied Finance Capital Management LLC boosted its position 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 in the last quarter. Finally, Garner Asset Management Corp boosted its position in shares of Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock worth $411,000 after purchasing an additional 12 shares in the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Donald A. Zakrowski sold 1,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the sale, the chief accounting officer now owns 5,840 shares in the company, valued at approximately $4,778,521.60. This represents a 14.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.13% of the company’s stock.

Eli Lilly and Company Stock Up 0.6%

Shares of NYSE LLY opened at $770.00 on Friday. The firm has a market cap of $729.76 billion, a price-to-earnings ratio of 65.76, a PEG ratio of 1.40 and a beta of 0.40. 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 has a 52-week low of $677.09 and a 52-week high of $972.53. The business’s 50 day moving average is $770.87 and its two-hundred day moving average is $799.95.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The company had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.77 billion. During the same period in the prior year, the company posted $2.58 EPS. The firm’s revenue was up 45.2% compared to the same quarter last year. Research analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be paid a dividend of $1.50 per share. 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 currently 48.82%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Cantor Fitzgerald assumed coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price objective for the company. Wall Street Zen upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Saturday. Hsbc Global Res lowered Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research note on Monday, April 28th. Morgan Stanley restated an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Finally, HSBC cut Eli Lilly and Company from a “buy” rating to a “reduce” rating and lowered their price objective for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the company. According to data from 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 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.