Lane & Associates LLC Trims Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Lane & Associates LLC trimmed its position in Eli Lilly and Company (NYSE:LLY) by 2.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,537 shares of the company’s stock after selling 59 shares during the period. Eli Lilly and Company accounts for 1.1% of Lane & Associates LLC’s portfolio, making the stock its 26th biggest position. Lane & Associates LLC’s holdings in Eli Lilly and Company were worth $2,095,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Eli Lilly and Company by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company’s stock worth $57,320,226,000 after acquiring an additional 475,530 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Eli Lilly and Company by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company’s stock worth $13,389,651,000 after acquiring an additional 291,875 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Eli Lilly and Company by 103,831.6% in the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock worth $12,278,292,000 after acquiring an additional 14,852,076 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock worth $9,747,214,000 after acquiring an additional 2,012,129 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Eli Lilly and Company in the fourth quarter worth $8,407,908,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Up 0.3%

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

Eli Lilly and Company (NYSE:LLY) last posted 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). Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The company had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.77 billion. During the same period in the previous year, the firm earned $2.58 earnings per share. The firm’s quarterly revenue was up 45.2% on a year-over-year basis. On average, equities research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current 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 $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company’s payout ratio is 48.82%.

Wall Street Analyst Weigh In

LLY has been the subject of several research analyst reports. Hsbc Global Res downgraded Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price objective for the company. Wall Street Zen downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Saturday, June 28th. HSBC downgraded 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 report on Monday, April 28th. Finally, Erste Group Bank downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,012.56.

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.