Index Fund Advisors Inc. Sells 176 Shares of Eli Lilly and Company (NYSE:LLY)

Index Fund Advisors Inc. lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 27.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 469 shares of the company’s stock after selling 176 shares during the quarter. Index Fund Advisors Inc.’s holdings in Eli Lilly and Company were worth $387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Garner Asset Management Corp raised its stake in Eli Lilly and Company by 2.3% in the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after buying an additional 12 shares during the last quarter. Brighton Jones LLC raised its stake in Eli Lilly and Company by 22.0% in the fourth quarter. Brighton Jones LLC now owns 9,597 shares of the company’s stock valued at $7,409,000 after buying an additional 1,730 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in Eli Lilly and Company by 2.8% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company’s stock valued at $1,136,000 after buying an additional 40 shares during the last quarter. Orion Capital Management LLC raised its stake in Eli Lilly and Company by 2.5% in the fourth quarter. Orion Capital Management LLC now owns 1,610 shares of the company’s stock valued at $1,243,000 after buying an additional 40 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG raised its stake in Eli Lilly and Company by 4.1% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 64,758 shares of the company’s stock valued at $49,993,000 after buying an additional 2,568 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Up 1.2%

Shares of LLY opened at $787.00 on Thursday. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. The stock’s 50 day moving average is $767.12 and its two-hundred day moving average is $800.05. The firm has a market cap of $745.87 billion, a P/E ratio of 64.04, a PEG ratio of 1.14 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 EPS 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 business had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same period in the previous year, the business posted $2.58 earnings per share. The firm’s revenue for the quarter was up 45.2% on a year-over-year basis. Analysts predict 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 declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders 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 presently 48.82%.

Analyst Ratings Changes

A number of equities research analysts have commented on LLY shares. Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. The Goldman Sachs Group upgraded Eli Lilly and Company from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. HSBC cut Eli Lilly and Company from a “buy” rating to a “reduce” rating and reduced their price objective for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Erste Group Bank cut Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. Finally, UBS Group reduced their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,011.61.

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.