Wesbanco Bank Inc. Trims Position in Eli Lilly and Company (NYSE:LLY)

Wesbanco Bank Inc. decreased its position in shares of Eli Lilly and Company (NYSE:LLY) by 1.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,746 shares of the company’s stock after selling 276 shares during the quarter. Wesbanco Bank Inc.’s holdings in Eli Lilly and Company were worth $19,612,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of LLY. FPC Investment Advisory Inc. grew its position in shares of Eli Lilly and Company by 358.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after purchasing an additional 43 shares in the last quarter. Mascagni Wealth Management Inc. bought a new position in Eli Lilly and Company in the 4th quarter worth approximately $43,000. Prudent Man Investment Management Inc. purchased a new stake in Eli Lilly and Company during the 4th quarter valued at approximately $48,000. Compass Financial Services Inc bought a new stake in shares of Eli Lilly and Company during the fourth quarter valued at approximately $50,000. Finally, Capital A Wealth Management LLC purchased a new position in shares of Eli Lilly and Company in the fourth quarter worth $63,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of research reports. Erste Group Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday. Wall Street Zen raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Saturday. Guggenheim restated a “buy” rating on shares of Eli Lilly and Company in a research report on Friday, May 23rd. The Goldman Sachs Group raised Eli Lilly and Company from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average target price of $1,011.37.

Insider Activity at Eli Lilly and Company

In other news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total transaction of $818,240.00. Following the completion of the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. This trade represents a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is owned by company insiders.

Eli Lilly and Company Stock Up 0.6%

NYSE LLY opened at $770.00 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The firm has a market capitalization of $729.76 billion, a price-to-earnings ratio of 65.76, a PEG ratio of 1.40 and a beta of 0.40. The company has a fifty day moving average of $770.87 and a two-hundred day moving average of $800.63.

Eli Lilly and Company (NYSE:LLY) last released its quarterly 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). The firm had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.77 billion. Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. Eli Lilly and Company’s revenue for the quarter was up 45.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.58 earnings per share. On average, analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Friday, May 16th. Eli Lilly and Company’s dividend 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.