Corundum Group Inc. Sells 1,673 Shares of Eli Lilly and Company (NYSE:LLY)

Corundum Group Inc. cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 61.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,045 shares of the company’s stock after selling 1,673 shares during the quarter. Corundum Group Inc.’s holdings in Eli Lilly and Company were worth $863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Knightsbridge Asset Management LLC boosted its stake in shares of Eli Lilly and Company by 1.9% during the fourth quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company’s stock valued at $628,000 after purchasing an additional 15 shares during the period. LS Investment Advisors LLC increased its stake in shares of Eli Lilly and Company by 1.7% in the first quarter. LS Investment Advisors LLC now owns 2,340 shares of the company’s stock worth $1,933,000 after buying an additional 40 shares during the period. CSM Advisors LLC raised its holdings in Eli Lilly and Company by 30.6% during the 4th quarter. CSM Advisors LLC now owns 1,045 shares of the company’s stock valued at $807,000 after buying an additional 245 shares during the last quarter. Proficio Capital Partners LLC boosted its position in Eli Lilly and Company by 30.2% during the 4th quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company’s stock valued at $5,202,000 after buying an additional 1,562 shares during the period. Finally, Bfsg LLC grew its holdings in Eli Lilly and Company by 1.4% in the 1st quarter. Bfsg LLC now owns 2,959 shares of the company’s stock worth $2,444,000 after acquiring an additional 42 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on LLY. UBS Group lowered their price objective on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. The Goldman Sachs Group upgraded Eli Lilly and Company from a “neutral” rating to a “buy” rating and reduced their price target for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. Cantor Fitzgerald assumed 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. Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, HSBC downgraded Eli Lilly and Company from a “buy” rating to a “reduce” rating and decreased their target price for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,011.61.

Eli Lilly and Company Stock Up 1.8%

NYSE:LLY opened at $792.41 on Thursday. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. The firm’s 50-day moving average price is $782.41 and its 200-day moving average price is $800.16. The company has a market capitalization of $751.00 billion, a PE ratio of 64.48, a P/E/G 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.

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 return on equity of 85.51% and a net margin of 22.67%. The business had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.77 billion. During the same quarter last year, the company posted $2.58 EPS. Eli Lilly and Company’s revenue for the quarter was up 45.2% compared to the same quarter last year. On average, equities analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a $1.50 dividend. The ex-dividend date is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.76%. Eli Lilly and Company’s payout ratio is currently 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.