Eli Lilly and Company (NYSE:LLY) Shares Sold by Wedgewood Investors Inc. PA

Wedgewood Investors Inc. PA cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 908 shares of the company’s stock after selling 14 shares during the period. Wedgewood Investors Inc. PA’s holdings in Eli Lilly and Company were worth $750,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. WestEnd Advisors LLC raised 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 during the last quarter. Citizens National Bank Trust Department raised its stake 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 valued at $35,000 after purchasing an additional 27 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new position in Eli Lilly and Company in the 4th quarter valued at $43,000. Prudent Man Investment Management Inc. acquired a new position in Eli Lilly and Company in the 4th quarter valued at $48,000. Finally, O Brien Wealth Partners LLC raised its position in shares of Eli Lilly and Company by 25.5% in the first 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 during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $779.60 on Friday. The company’s 50 day simple moving average is $773.61 and its 200-day simple moving average is $799.96. The company has a market capitalization of $738.85 billion, a price-to-earnings ratio of 63.43, a price-to-earnings-growth ratio of 1.14 and a beta of 0.40. 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 2.18, a quick ratio of 1.06 and a current ratio of 1.37.

Eli Lilly and Company (NYSE:LLY) last announced its 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 firm had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The firm’s revenue for the quarter was up 45.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.58 EPS. As a group, equities research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a $1.50 dividend. The ex-dividend date is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.77%. Eli Lilly and Company’s dividend payout ratio is presently 48.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. HSBC cut shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and reduced their target price for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. UBS Group cut their price target 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. Wall Street Zen cut Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Saturday, June 28th. The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and cut their target price for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,011.61.

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.