Forza Wealth Management LLC Has $2.09 Million Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Forza Wealth Management LLC trimmed its position in Eli Lilly and Company (NYSE:LLY) by 7.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,532 shares of the company’s stock after selling 193 shares during the period. Forza Wealth Management LLC’s holdings in Eli Lilly and Company were worth $2,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently 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. Mascagni Wealth Management Inc. acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth $43,000. Prudent Man Investment Management Inc. acquired a new stake in Eli Lilly and Company during the fourth quarter worth about $48,000. Finally, O Brien Wealth Partners LLC grew its stake in Eli Lilly and Company by 25.5% during the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company’s stock worth $49,000 after buying an additional 12 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on LLY shares. Erste Group Bank downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. UBS Group reduced their target price on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Guggenheim reaffirmed a “buy” rating and issued a $936.00 target price on shares of Eli Lilly and Company in a report on Friday, June 20th. Finally, Hsbc Global Res lowered Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research note on Monday, April 28th. One 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,011.61.

Eli Lilly and Company Stock Up 1.2%

NYSE:LLY opened at $787.00 on Thursday. The company has a market cap of $745.87 billion, a PE ratio of 64.04, a P/E/G ratio of 1.14 and a beta of 0.40. The firm’s 50 day simple moving average is $767.12 and its 200 day simple moving average is $800.05. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. Eli Lilly and Company has a one year low of $677.09 and a one year high of $972.53.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). The business had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. Eli Lilly and Company’s revenue for the quarter was up 45.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.58 EPS. On average, research analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company’s dividend payout ratio is currently 48.82%.

About Eli Lilly and Company

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.