Forvis Mazars Wealth Advisors LLC Sells 6,520 Shares of Eli Lilly and Company (NYSE:LLY)

Forvis Mazars Wealth Advisors LLC cut its position in Eli Lilly and Company (NYSE:LLY) by 13.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,548 shares of the company’s stock after selling 6,520 shares during the quarter. Eli Lilly and Company comprises about 0.9% of Forvis Mazars Wealth Advisors LLC’s portfolio, making the stock its 20th biggest holding. Forvis Mazars Wealth Advisors LLC’s holdings in Eli Lilly and Company were worth $35,967,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. WestEnd Advisors LLC grew its holdings in shares of 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 purchasing an additional 21 shares in the last quarter. Citizens National Bank Trust Department grew its holdings in shares of 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 worth $35,000 after purchasing an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of Eli Lilly and Company during the 1st quarter worth $40,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth $43,000. Finally, O Brien Wealth Partners LLC grew its holdings in shares of Eli Lilly and Company by 25.5% during the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company’s stock worth $49,000 after purchasing an additional 12 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LLY. Cantor Fitzgerald reduced their target price on Eli Lilly and Company from $975.00 to $825.00 and set an “overweight” rating on the stock in a report on Wednesday. DZ Bank raised Eli Lilly and Company from a “hold” rating to a “strong-buy” rating in a report on Thursday. Wells Fargo & Company reissued an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Erste Group Bank lowered Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. Finally, Leerink Partnrs downgraded Eli Lilly and Company from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus price target of $964.88.

Eli Lilly and Company Price Performance

Shares of LLY opened at $701.51 on Friday. Eli Lilly and Company has a 12-month low of $623.78 and a 12-month high of $972.53. The business has a 50-day simple moving average of $764.55 and a two-hundred day simple moving average of $794.69. The company has a quick ratio of 1.00, a current ratio of 1.28 and a debt-to-equity ratio of 1.86. The stock has a market cap of $663.95 billion, a PE ratio of 45.85, a PEG ratio of 0.95 and a beta of 0.44.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Thursday, August 7th. The company reported $6.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.59 by $0.72. Eli Lilly and Company had a return on equity of 92.72% and a net margin of 25.91%. The business had revenue of $15.56 billion during the quarter, compared to analysts’ expectations of $14.40 billion. During the same quarter in the prior year, the firm earned $3.92 EPS. The business’s revenue for the quarter was up 37.6% compared to the same quarter last year. Analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal 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 issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company’s dividend payout ratio is presently 39.22%.

Insiders Place Their Bets

In other news, CEO David A. Ricks bought 1,632 shares of the stock in a transaction on Tuesday, August 12th. The stock was acquired at an average price of $644.77 per share, with a total value of $1,052,264.64. Following the acquisition, the chief executive officer directly owned 546,601 shares in the company, valued at approximately $352,431,926.77. This trade represents a 0.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jamere Jackson bought 200 shares of the stock in a transaction on Friday, August 8th. The stock was purchased at an average cost of $639.56 per share, with a total value of $127,912.00. Following the acquisition, the director owned 9,402 shares in the company, valued at approximately $6,013,143.12. This represents a 2.17% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 4,514 shares of company stock worth $2,894,841. Company insiders own 0.13% of the company’s stock.

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.