Mattern Wealth Management LLC Sells 215 Shares of Eli Lilly and Company (NYSE:LLY)

Mattern Wealth Management LLC cut its position in shares of Eli Lilly and Company (NYSE:LLY) by 7.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,642 shares of the company’s stock after selling 215 shares during the period. Mattern Wealth Management LLC’s holdings in Eli Lilly and Company were worth $2,182,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of LLY. Mascagni Wealth Management Inc. bought a new stake in Eli Lilly and Company in the fourth quarter valued at $43,000. Prudent Man Investment Management Inc. bought a new stake in Eli Lilly and Company in the fourth quarter valued at $48,000. Highline Wealth Partners LLC grew its position in 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 bought a new stake in Eli Lilly and Company in the fourth quarter valued at $63,000. Finally, Bellwether Advisors LLC bought a new stake in Eli Lilly and Company in the fourth quarter valued at $66,000. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LLY has been the topic of several research analyst reports. HSBC cut Eli Lilly and Company from a “buy” rating to a “reduce” rating and decreased their target price for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. Guggenheim restated a “buy” rating and set a $936.00 target price on shares of Eli Lilly and Company in a report on Friday, June 20th. UBS Group decreased their target price on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Cantor Fitzgerald started coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 target price on the stock. Finally, Wells Fargo & Company reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One investment 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 data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and a consensus target price of $1,011.61.

Eli Lilly and Company Trading Up 1.8%

NYSE:LLY opened at $792.41 on Thursday. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The business’s 50-day moving average price is $782.41 and its two-hundred day moving average price is $800.16. 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 firm has a market capitalization of $751.00 billion, a price-to-earnings ratio of 64.48, a PEG ratio of 1.14 and a beta of 0.40.

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 the consensus estimate of $4.64 by ($1.30). The company had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The company’s quarterly revenue was up 45.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.58 EPS. On average, equities analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current 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 given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company’s dividend payout ratio is currently 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.