Corundum Group Inc. Decreases Holdings in Eli Lilly and Company (NYSE:LLY)

Corundum Group Inc. trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 61.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,045 shares of the company’s stock after selling 1,673 shares during the period. Corundum Group Inc.’s holdings in Eli Lilly and Company were worth $863,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LLY. Knightsbridge Asset Management LLC grew its holdings in Eli Lilly and Company by 1.9% during the fourth quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company’s stock valued at $628,000 after purchasing an additional 15 shares during the period. LS Investment Advisors LLC lifted its position in shares of Eli Lilly and Company by 1.7% during the 1st quarter. LS Investment Advisors LLC now owns 2,340 shares of the company’s stock valued at $1,933,000 after buying an additional 40 shares during the last quarter. CSM Advisors LLC grew its stake in shares of Eli Lilly and Company by 30.6% during the 4th quarter. CSM Advisors LLC now owns 1,045 shares of the company’s stock worth $807,000 after acquiring an additional 245 shares during the period. Proficio Capital Partners LLC increased its holdings in Eli Lilly and Company by 30.2% in the 4th quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company’s stock worth $5,202,000 after acquiring an additional 1,562 shares during the last quarter. Finally, Bfsg LLC raised its stake in Eli Lilly and Company by 1.4% in the 1st quarter. Bfsg LLC now owns 2,959 shares of the company’s stock valued at $2,444,000 after acquiring an additional 42 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LLY. 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. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and dropped their price target for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Erste Group Bank downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. Guggenheim restated a “buy” rating and issued a $936.00 target price on shares of Eli Lilly and Company in a research note on Friday, June 20th. Finally, HSBC cut Eli Lilly and Company from a “buy” rating to a “reduce” rating and decreased their price target for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $1,011.61.

Eli Lilly and Company Price Performance

LLY opened at $792.41 on Thursday. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. The stock has a market capitalization of $751.00 billion, a P/E ratio of 64.48, a PEG ratio of 1.14 and a beta of 0.40. The stock has a 50-day moving average price of $782.41 and a 200-day moving average price of $800.16. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last released its earnings results 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 85.51% and a net margin of 22.67%. The firm had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. During the same quarter in the previous year, the firm earned $2.58 EPS. The business’s quarterly revenue was up 45.2% compared to the same quarter last year. Equities analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.76%. Eli Lilly and Company’s dividend payout ratio (DPR) is 48.82%.

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.