Family Legacy Inc. Has $5.98 Million Stake in Eli Lilly and Company (NYSE:LLY)

Family Legacy Inc. trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 8.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,245 shares of the company’s stock after selling 670 shares during the period. Eli Lilly and Company comprises approximately 2.1% of Family Legacy Inc.’s investment portfolio, making the stock its 7th largest holding. Family Legacy Inc.’s holdings in Eli Lilly and Company were worth $5,984,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mascagni Wealth Management Inc. purchased a new stake in shares of Eli Lilly and Company during the 4th quarter valued at approximately $43,000. Prudent Man Investment Management Inc. purchased a new stake in shares of Eli Lilly and Company in the fourth quarter worth about $48,000. Highline Wealth Partners LLC boosted its position in shares of Eli Lilly and Company by 53.3% in the first quarter. Highline Wealth Partners LLC now owns 69 shares of the company’s stock valued at $57,000 after acquiring an additional 24 shares during the period. Capital A Wealth Management LLC purchased a new position in Eli Lilly and Company during the fourth quarter valued at approximately $63,000. Finally, Bellwether Advisors LLC bought a new stake in Eli Lilly and Company during the 4th quarter worth approximately $66,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on LLY. HSBC cut shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and cut their price target for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Cantor Fitzgerald started coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 price target on the stock. Hsbc Global Res downgraded Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research report on Monday, April 28th. Erste Group Bank lowered Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus target price of $1,011.61.

Eli Lilly and Company Trading Up 1.1%

Shares of NYSE LLY opened at $778.97 on Wednesday. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53. The firm has a 50-day moving average of $781.26 and a 200 day moving average of $800.21. The stock has a market cap of $738.26 billion, a P/E ratio of 63.38, a price-to-earnings-growth ratio of 1.13 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.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results 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 company had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. Eli Lilly and Company’s revenue was up 45.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.58 earnings per share. As a group, sell-side analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company’s dividend payout ratio is currently 48.82%.

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.