Lakeridge Wealth Management LLC Cuts Holdings in Eli Lilly and Company (NYSE:LLY)

Lakeridge Wealth Management LLC cut its position in shares of Eli Lilly and Company (NYSE:LLY) by 2.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,603 shares of the company’s stock after selling 42 shares during the quarter. Lakeridge Wealth Management LLC’s holdings in Eli Lilly and Company were worth $1,324,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital & Planning LLC boosted its stake in Eli Lilly and Company by 15.6% in the fourth quarter. Capital & Planning LLC now owns 481 shares of the company’s stock valued at $371,000 after acquiring an additional 65 shares during the last quarter. Garner Asset Management Corp boosted 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 acquiring an additional 12 shares during the last quarter. Brighton Jones LLC boosted 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 acquiring an additional 1,730 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in Eli Lilly and Company in the fourth quarter valued at about $49,534,000. Finally, Revolve Wealth Partners LLC boosted 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 acquiring an additional 40 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Guggenheim reiterated a “buy” rating on shares of Eli Lilly and Company in a research note on Friday, May 23rd. Wells Fargo & Company restated an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Hsbc Global Res cut shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research note on Monday, April 28th. Finally, Erste Group Bank cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,011.37.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $818.56 on Friday. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year high of $972.53. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The stock has a market capitalization of $775.78 billion, a PE ratio of 69.90, a P/E/G ratio of 1.40 and a beta of 0.41. The company’s 50 day simple moving average is $775.43 and its two-hundred day simple moving average is $801.50.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. The firm had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.77 billion. During the same quarter in the prior year, the company earned $2.58 earnings per share. The business’s revenue for the quarter was up 45.2% compared to the same quarter last year. Analysts predict 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 announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.73%. The ex-dividend date was Friday, May 16th. Eli Lilly and Company’s dividend payout ratio is presently 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.