Eli Lilly and Company (NYSE:LLY) Shares Sold by Cable Hill Partners LLC

Cable Hill Partners LLC cut its stake in Eli Lilly and Company (NYSE:LLY) by 1.9% during the 1st quarter, HoldingsChannel reports. The fund owned 9,889 shares of the company’s stock after selling 187 shares during the period. Eli Lilly and Company comprises 0.9% of Cable Hill Partners LLC’s portfolio, making the stock its 14th largest position. Cable Hill Partners LLC’s holdings in Eli Lilly and Company were worth $8,890,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Prestige Wealth Management Group LLC increased its stake in Eli Lilly and Company by 2.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company’s stock valued at $468,000 after purchasing an additional 12 shares during the last quarter. Applied Finance Capital Management LLC increased its stake in Eli Lilly and Company by 1.4% during the fourth quarter. Applied Finance Capital Management LLC now owns 855 shares of the company’s stock valued at $660,000 after purchasing an additional 12 shares during the last quarter. Garner Asset Management Corp increased its stake in Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after purchasing an additional 12 shares during the last quarter. Tobias Financial Advisors Inc. increased its stake in Eli Lilly and Company by 4.1% during the fourth quarter. Tobias Financial Advisors Inc. now owns 307 shares of the company’s stock valued at $237,000 after purchasing an additional 12 shares during the last quarter. Finally, Redwood Investments LLC increased its stake in Eli Lilly and Company by 0.5% during the fourth quarter. Redwood Investments LLC now owns 2,209 shares of the company’s stock valued at $1,705,000 after purchasing an additional 12 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

Shares of NYSE LLY opened at $772.74 on Wednesday. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. 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 company has a market capitalization of $732.36 billion, a price-to-earnings ratio of 62.88, a PEG ratio of 1.16 and a beta of 0.40. The firm has a 50-day moving average of $765.88 and a two-hundred day moving average of $799.99.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, May 1st. The company reported $3.34 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 firm had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.77 billion. During the same period in the prior year, the company posted $2.58 earnings per share. Eli Lilly and Company’s quarterly revenue was up 45.2% compared to the same quarter last year. As a group, analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders 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 yield of 0.78%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company’s dividend payout ratio is presently 48.82%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. HSBC lowered shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and lowered their target price for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 price target for the company. Wells Fargo & Company restated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Erste Group Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, June 5th. Finally, Morgan Stanley restated an “overweight” rating and set a $1,135.00 price target (up previously from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,012.56.

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.