Code Waechter LLC Sells 31 Shares of Eli Lilly and Company (NYSE:LLY)

Code Waechter LLC lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 10.8% during the 1st quarter, Holdings Channel.com reports. The fund owned 257 shares of the company’s stock after selling 31 shares during the quarter. Code Waechter LLC’s holdings in Eli Lilly and Company were worth $212,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. WestEnd Advisors LLC lifted its position in Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company’s stock valued at $26,000 after purchasing an additional 21 shares during the period. Citizens National Bank Trust Department raised its stake in Eli Lilly and Company by 180.0% during the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company’s stock valued at $35,000 after buying an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. bought a new position in shares of Eli Lilly and Company during the 1st quarter valued at $40,000. Mascagni Wealth Management Inc. purchased a new position in shares of Eli Lilly and Company in the 4th quarter worth $43,000. Finally, Prudent Man Investment Management Inc. bought a new stake in shares of Eli Lilly and Company in the fourth quarter worth $48,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

LLY has been the topic of several research reports. Wells Fargo & Company reissued an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Cantor Fitzgerald began coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price objective on the stock. Morgan Stanley restated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Wall Street Zen cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Saturday, June 28th. Finally, Erste Group Bank cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average target price of $1,011.61.

Eli Lilly and Company Stock Up 1.3%

NYSE LLY opened at $787.99 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’s 50 day moving average is $767.12 and its 200 day moving average is $800.05. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. The stock has a market cap of $746.81 billion, a PE ratio of 64.12, a P/E/G ratio of 1.14 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The business had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.77 billion. During the same period in the previous year, the company earned $2.58 EPS. Eli Lilly and Company’s revenue for the quarter 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 fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid 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 of this dividend 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.