Eli Lilly and Company (NYSE:LLY) Stake Lessened by Family Legacy Inc.

Family Legacy Inc. reduced its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 8.5% in the first quarter, Holdings Channel reports. The institutional investor owned 7,245 shares of the company’s stock after selling 670 shares during the period. Eli Lilly and Company comprises about 2.1% of Family Legacy Inc.’s portfolio, making the stock its 7th biggest holding. Family Legacy Inc.’s holdings in Eli Lilly and Company were worth $5,984,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Garner Asset Management Corp increased its stake in shares of Eli Lilly and Company by 2.3% in the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock worth $411,000 after purchasing an additional 12 shares in the last quarter. Brighton Jones LLC increased its holdings in shares of Eli Lilly and Company by 22.0% in the fourth quarter. Brighton Jones LLC now owns 9,597 shares of the company’s stock worth $7,409,000 after purchasing an additional 1,730 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Eli Lilly and Company by 2.8% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company’s stock worth $1,136,000 after acquiring an additional 40 shares in the last quarter. SOA Wealth Advisors LLC. raised its stake in Eli Lilly and Company by 7.1% during the fourth quarter. SOA Wealth Advisors LLC. now owns 925 shares of the company’s stock valued at $714,000 after purchasing an additional 61 shares in the last quarter. Finally, Orion Capital Management LLC lifted its holdings in shares of Eli Lilly and Company by 2.5% in the 4th quarter. Orion Capital Management LLC now owns 1,610 shares of the company’s stock valued at $1,243,000 after acquiring an additional 40 shares during the last quarter. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $778.97 on Wednesday. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. The company’s fifty day moving average price is $781.26 and its 200 day moving average price is $800.21. The stock has a market capitalization of $738.26 billion, a P/E ratio of 63.38, a P/E/G ratio of 1.13 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.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. 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 prior year, the firm earned $2.58 EPS. The firm’s revenue for the quarter was up 45.2% on a year-over-year basis. As a group, equities research analysts anticipate 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 will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.77%. Eli Lilly and Company’s payout ratio is currently 48.82%.

Analyst Ratings Changes

Several research firms have commented on LLY. Morgan Stanley reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. HSBC lowered Eli Lilly and Company from a “buy” rating to a “reduce” rating and lowered their target price for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 target price for the company. Guggenheim reiterated a “buy” rating and issued a $936.00 target price on shares of Eli Lilly and Company in a research note on Friday, June 20th. Finally, Erste Group Bank downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $1,011.61.

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.