Byrne Asset Management LLC Decreases Stake in Eli Lilly and Company (NYSE:LLY)

Byrne Asset Management LLC cut its holdings in Eli Lilly and Company (NYSE:LLY) by 3.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 418 shares of the company’s stock after selling 16 shares during the period. Byrne Asset Management LLC’s holdings in Eli Lilly and Company were worth $345,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in LLY. Capital & Planning LLC boosted its position in shares of Eli Lilly and Company by 15.6% in the 4th quarter. Capital & Planning LLC now owns 481 shares of the company’s stock worth $371,000 after buying an additional 65 shares in the last quarter. Garner Asset Management Corp raised its stake in Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after purchasing an additional 12 shares during the last quarter. Brighton Jones LLC raised its stake in Eli Lilly and Company by 22.0% in the 4th quarter. Brighton Jones LLC now owns 9,597 shares of the company’s stock valued at $7,409,000 after purchasing an additional 1,730 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in Eli Lilly and Company in the 4th quarter valued at about $49,534,000. Finally, Revolve Wealth Partners LLC raised its stake in Eli Lilly and Company by 2.8% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company’s stock valued at $1,136,000 after purchasing an additional 40 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on LLY. HSBC downgraded shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and cut their target price for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. Wall Street Zen raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Saturday, June 7th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. UBS Group dropped 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. Finally, Erste Group Bank downgraded shares of 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 given a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,011.37.

Eli Lilly and Company Stock Up 0.8%

NYSE LLY opened at $818.56 on Friday. The stock has a market cap of $775.78 billion, a PE ratio of 69.90, a P/E/G ratio of 1.40 and a beta of 0.41. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The business has a 50 day moving average price of $775.43 and a two-hundred day moving average price of $801.50. 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 (NYSE:LLY) last released its quarterly earnings results 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). The company had revenue of $12.73 billion during 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%. The firm’s revenue was up 45.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.58 EPS. As a group, sell-side analysts predict that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th were paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Friday, May 16th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 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.