Tower Bridge Advisors Reduces Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Tower Bridge Advisors decreased its holdings in Eli Lilly and Company (NYSE:LLY) by 11.1% in the first quarter, HoldingsChannel.com reports. The fund owned 6,946 shares of the company’s stock after selling 868 shares during the period. Tower Bridge Advisors’ holdings in Eli Lilly and Company were worth $5,737,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WestEnd Advisors LLC increased its holdings in shares of Eli Lilly and Company by 210.0% during 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 holdings in Eli Lilly and Company by 180.0% in the 1st quarter. Citizens National Bank Trust Department now owns 42 shares of the company’s stock worth $35,000 after buying an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. purchased a new position in Eli Lilly and Company in the first quarter worth about $40,000. Mascagni Wealth Management Inc. purchased a new position in shares of Eli Lilly and Company during the 4th quarter valued at about $43,000. Finally, O Brien Wealth Partners LLC lifted its position in shares of Eli Lilly and Company by 25.5% during the 1st quarter. O Brien Wealth Partners LLC now owns 59 shares of the company’s stock valued at $49,000 after buying an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Analysts Set New Price Targets

LLY has been the topic of a number of research reports. 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 research note on Monday, April 28th. The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and cut their price objective for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. Hsbc Global Res downgraded Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research report on Monday, April 28th. UBS Group lowered their target price on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Finally, Guggenheim upped their price objective on Eli Lilly and Company from $936.00 to $942.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eli Lilly and Company currently has an average rating of “Moderate Buy” and a consensus price target of $1,012.56.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $763.30 on Wednesday. The company has a market capitalization of $723.40 billion, a P/E ratio of 62.11, a P/E/G ratio of 1.15 and a beta of 0.40. The business’s 50 day moving average is $773.36 and its two-hundred day moving average is $800.41. 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.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (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 analysts’ expectations of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The business’s revenue for the quarter was up 45.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.58 EPS. Analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

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 $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.79%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 48.82%.

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.