Perigon Wealth Management LLC Sells 420 Shares of Eli Lilly and Company (NYSE:LLY)

Perigon Wealth Management LLC cut its stake in Eli Lilly and Company (NYSE:LLY) by 1.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,548 shares of the company’s stock after selling 420 shares during the quarter. Eli Lilly and Company comprises about 0.8% of Perigon Wealth Management LLC’s holdings, making the stock its 20th largest position. Perigon Wealth Management LLC’s holdings in Eli Lilly and Company were worth $30,185,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Garner Asset Management Corp increased its position in shares of Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after buying an additional 12 shares during the period. Brighton Jones LLC boosted its position 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 valued at $7,409,000 after acquiring an additional 1,730 shares during the period. Revolve Wealth Partners LLC grew its stake in Eli Lilly and Company by 2.8% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company’s stock valued at $1,136,000 after acquiring an additional 40 shares in the last quarter. SOA Wealth Advisors LLC. grew 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 acquiring an additional 61 shares in the last quarter. Finally, Orion Capital Management LLC increased its holdings in Eli Lilly and Company by 2.5% during the 4th quarter. Orion Capital Management LLC now owns 1,610 shares of the company’s stock worth $1,243,000 after acquiring an additional 40 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Hsbc Global Res downgraded shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. HSBC downgraded Eli Lilly and Company from a “buy” rating to a “reduce” rating and lowered their price objective for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Guggenheim restated a “buy” rating and set a $936.00 target price on shares of Eli Lilly and Company in a research report on Friday, June 20th. Wells Fargo & Company restated an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Finally, The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and lowered their price target for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Eli Lilly and Company has a consensus rating of “Moderate Buy” and a consensus price target of $1,011.61.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $795.97 on Friday. The company has a market capitalization of $754.37 billion, a price-to-earnings ratio of 64.77, a PEG ratio of 1.16 and a beta of 0.40. The business has a 50 day moving average of $781.50 and a 200 day moving average of $800.11. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. 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 the consensus estimate of $12.77 billion. During the same quarter in the previous year, the firm posted $2.58 earnings per share. The company’s revenue was up 45.2% compared to the same quarter last year. On average, sell-side analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company’s dividend payout ratio 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.