Forum Private Client Group LLC Lowers Stock Position in Eli Lilly and Company (NYSE:LLY)

Forum Private Client Group LLC lessened its stake in shares of Eli Lilly and Company (NYSE:LLY) by 4.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,565 shares of the company’s stock after selling 282 shares during the quarter. Eli Lilly and Company accounts for about 2.0% of Forum Private Client Group LLC’s holdings, making the stock its 16th biggest holding. Forum Private Client Group LLC’s holdings in Eli Lilly and Company were worth $4,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the stock. WestEnd Advisors LLC raised its holdings in Eli Lilly and Company by 210.0% in the first quarter. WestEnd Advisors LLC now owns 31 shares of the company’s stock valued at $26,000 after acquiring an additional 21 shares in the last quarter. Citizens National Bank Trust Department increased its stake in Eli Lilly and Company by 180.0% in the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company’s stock valued at $35,000 after purchasing an additional 27 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new position in Eli Lilly and Company in the first quarter valued at approximately $40,000. Mascagni Wealth Management Inc. purchased a new position in Eli Lilly and Company in the fourth quarter valued at approximately $43,000. Finally, O Brien Wealth Partners LLC increased its stake in Eli Lilly and Company by 25.5% in the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company’s stock valued at $49,000 after purchasing an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 0.3%

Shares of LLY stock opened at $793.34 on Friday. The stock’s 50 day simple moving average is $766.39 and its 200 day simple moving average is $799.99. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The company has a market capitalization of $751.88 billion, a price-to-earnings ratio of 64.55, a PEG ratio of 1.16 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). The company had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The firm’s revenue was up 45.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.58 earnings per share. As a group, research analysts predict 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. Stockholders of record on Friday, August 15th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.76%. Eli Lilly and Company’s payout ratio is currently 48.82%.

Analyst Upgrades and Downgrades

LLY has been the topic of several recent analyst reports. 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. HSBC lowered shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and lowered their target price for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Hsbc Global Res lowered shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research report on Monday, April 28th. Guggenheim lifted their price objective on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the company a “buy” rating in a research report on Friday. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $1,135.00 price objective (up from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.