Eli Lilly and Company (NYSE:LLY) Shares Sold by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC decreased its position in shares of Eli Lilly and Company (NYSE:LLY) by 2.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,312 shares of the company’s stock after selling 78 shares during the quarter. Eli Lilly and Company accounts for approximately 0.8% of Legacy Wealth Asset Management LLC’s portfolio, making the stock its 18th largest holding. Legacy Wealth Asset Management LLC’s holdings in Eli Lilly and Company were worth $2,735,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in LLY. Elevate Capital Advisors LLC acquired a new stake in shares of Eli Lilly and Company during the 4th quarter worth approximately $262,000. Capital & Planning LLC lifted its position in shares of Eli Lilly and Company by 15.6% during the 4th quarter. Capital & Planning LLC now owns 481 shares of the company’s stock valued at $371,000 after buying an additional 65 shares in the last quarter. Garner Asset Management Corp lifted its position in shares of Eli Lilly and Company by 2.3% during the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after buying an additional 12 shares in the last quarter. Brighton Jones LLC lifted its position in shares of Eli Lilly and Company by 22.0% during the 4th 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 in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Eli Lilly and Company during the 4th quarter valued at approximately $49,534,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the sale, the chief accounting officer now directly owns 5,840 shares of the company’s stock, valued at $4,778,521.60. This trade represents a 14.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LLY shares. Hsbc Global Res lowered Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research report on Monday, April 28th. Cantor Fitzgerald started coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 target price on the stock. Guggenheim reiterated a “buy” rating on shares of Eli Lilly and Company in a research report on Friday, May 23rd. Morgan Stanley reiterated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, Truist Financial increased their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,011.37.

Eli Lilly and Company Trading Up 2.2%

Shares of LLY stock opened at $738.33 on Friday. The stock’s fifty day moving average is $776.85 and its two-hundred day moving average is $799.88. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The firm has a market capitalization of $699.74 billion, a P/E ratio of 63.05, a PEG ratio of 1.40 and a beta of 0.48. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY) last announced 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 23.51% and a return on equity of 85.24%. 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 previous year, the business posted $2.58 EPS. The company’s revenue for the quarter was up 45.2% on a year-over-year basis. Research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date of this dividend is Friday, May 16th. Eli Lilly and Company’s dividend payout ratio (DPR) 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.