Eli Lilly and Company (NYSE:LLY) Shares Sold by Ring Mountain Capital LLC

Ring Mountain Capital LLC lessened its stake in Eli Lilly and Company (NYSE:LLY) by 2.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 673 shares of the company’s stock after selling 18 shares during the quarter. Ring Mountain Capital LLC’s holdings in Eli Lilly and Company were worth $556,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on LLY. HSBC downgraded shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and reduced their price target for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. Erste Group Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. Wall Street Zen lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Saturday, June 28th. Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 price objective for the company. Finally, Hsbc Global Res downgraded shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eli Lilly and Company has an average rating of “Moderate Buy” and an average price target of $1,012.56.

Eli Lilly and Company Stock Up 0.8%

Shares of NYSE LLY opened at $767.51 on Friday. 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 company has a 50 day simple moving average of $766.32 and a 200 day simple moving average of $799.83. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53. The firm has a market cap of $727.40 billion, a PE ratio of 62.67, a price-to-earnings-growth ratio of 1.15 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY) last announced 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). Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The company had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same quarter in the prior year, the company earned $2.58 earnings per share. The company’s quarterly revenue was up 45.2% on a year-over-year basis. On average, research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.78%. 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 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.