Bar Harbor Wealth Management Decreases Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Bar Harbor Wealth Management lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 1.1% during the 1st quarter, Holdings Channel reports. The firm owned 76,113 shares of the company’s stock after selling 835 shares during the period. Eli Lilly and Company comprises about 4.2% of Bar Harbor Wealth Management’s portfolio, making the stock its 2nd biggest holding. Bar Harbor Wealth Management’s holdings in Eli Lilly and Company were worth $62,862,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Eli Lilly and Company by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 74,248,997 shares of the company’s stock valued at $57,320,226,000 after purchasing an additional 475,530 shares during the period. Geode Capital Management LLC raised its stake in Eli Lilly and Company by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company’s stock valued at $13,389,651,000 after purchasing an additional 291,875 shares during the period. GAMMA Investing LLC raised its stake in Eli Lilly and Company by 103,831.6% during the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock valued at $12,278,292,000 after purchasing an additional 14,852,076 shares during the period. Wellington Management Group LLP raised its stake in Eli Lilly and Company by 19.0% during the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock valued at $9,747,214,000 after purchasing an additional 2,012,129 shares during the period. Finally, Norges Bank bought a new stake in Eli Lilly and Company during the 4th quarter valued at approximately $8,407,908,000. Institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

LLY opened at $811.62 on Friday. The business has a fifty day moving average of $773.53 and a 200 day moving average of $801.30. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The company has a quick ratio of 0.97, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The stock has a market cap of $769.20 billion, a P/E ratio of 69.31, a PEG ratio of 1.40 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.77 billion. During the same quarter in the previous year, the firm earned $2.58 EPS. Eli Lilly and Company’s revenue was up 45.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Friday, May 16th. Eli Lilly and Company’s payout ratio is currently 48.82%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LLY. UBS Group reduced their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Wall Street Zen raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Saturday, June 7th. Cantor Fitzgerald began coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price objective on the stock. Guggenheim reaffirmed a “buy” rating on shares of Eli Lilly and Company in a research note on Friday, May 23rd. 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 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 stock. According to MarketBeat.com, Eli Lilly and Company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,011.37.

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.