First Heartland Consultants Inc. Cuts Stock Holdings in Eli Lilly and Company (NYSE:LLY)

First Heartland Consultants Inc. cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 2.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,831 shares of the company’s stock after selling 100 shares during the quarter. First Heartland Consultants Inc.’s holdings in Eli Lilly and Company were worth $2,957,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. FWG Holdings LLC raised its position in Eli Lilly and Company by 0.6% in the fourth quarter. FWG Holdings LLC now owns 2,023 shares of the company’s stock valued at $1,640,000 after purchasing an additional 12 shares during the period. Morling Financial Advisors LLC grew its position in Eli Lilly and Company by 4.7% in the fourth quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock valued at $205,000 after acquiring an additional 12 shares in the last quarter. Prestige Wealth Management Group LLC lifted its position in shares of Eli Lilly and Company by 2.0% during the fourth quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company’s stock worth $468,000 after purchasing an additional 12 shares in the last quarter. Applied Finance Capital Management LLC increased its stake in Eli Lilly and Company by 1.4% during the 4th quarter. Applied Finance Capital Management LLC now owns 855 shares of the company’s stock worth $660,000 after buying an additional 12 shares during the period. Finally, Garner Asset Management Corp grew its stake 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 acquiring an additional 12 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the transaction, the chief accounting officer now owns 5,840 shares of the company’s stock, valued at $4,778,521.60. The trade was a 14.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on LLY shares. Morgan Stanley reissued an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Guggenheim reiterated a “buy” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. HSBC lowered shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and dropped their price target for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 price objective on the stock. Finally, StockNews.com raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,011.37.

Eli Lilly and Company Price Performance

Shares of LLY opened at $745.72 on Wednesday. Eli Lilly and Company has a one year low of $677.09 and a one year high of $972.53. The stock’s fifty day moving average is $795.44 and its 200-day moving average is $804.82. 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 $706.75 billion, a price-to-earnings ratio of 63.68, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48.

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 the consensus estimate 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 company had revenue of $12.73 billion for the quarter, compared to analyst estimates of $12.77 billion. During the same period in the previous year, the business posted $2.58 EPS. The firm’s quarterly revenue was up 45.2% on a year-over-year basis. Equities analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 annualized dividend and a yield of 0.80%. Eli Lilly and Company’s payout ratio is 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.