Townsend Asset Management Corp NC ADV Trims Stake in Eli Lilly and Company (NYSE:LLY)

Townsend Asset Management Corp NC ADV lessened its holdings in Eli Lilly and Company (NYSE:LLY) by 3.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,281 shares of the company’s stock after selling 90 shares during the period. Townsend Asset Management Corp NC ADV’s holdings in Eli Lilly and Company were worth $1,884,000 as of its most recent SEC filing.

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

Eli Lilly and Company Stock Down 0.9%

NYSE LLY opened at $784.28 on Friday. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53. The stock has a market capitalization of $743.29 billion, a PE ratio of 63.81, a PEG ratio of 1.15 and a beta of 0.40. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. The business’s 50-day moving average is $779.84 and its 200 day moving average is $801.47.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.30). The business had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The company’s quarterly revenue was up 45.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.58 EPS. Sell-side analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.77%. The ex-dividend date was Friday, May 16th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 48.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on LLY shares. The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. UBS Group dropped their target price on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. Wall Street Zen upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Saturday, June 7th. Morgan Stanley restated an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and an average target price of $1,011.37.

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.