Tower View Wealth Management LLC Cuts Stock Position in Eli Lilly and Company (NYSE:LLY)

Tower View Wealth Management LLC trimmed its position in shares of Eli Lilly and Company (NYSE:LLY) by 0.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,056 shares of the company’s stock after selling 59 shares during the quarter. Eli Lilly and Company makes up approximately 4.8% of Tower View Wealth Management LLC’s holdings, making the stock its largest position. Tower View Wealth Management LLC’s holdings in Eli Lilly and Company were worth $8,306,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. FWG Holdings LLC increased its stake in Eli Lilly and Company by 0.6% during the 4th 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 in the last quarter. Morling Financial Advisors LLC increased its stake in Eli Lilly and Company by 4.7% during the 4th quarter. Morling Financial Advisors LLC now owns 266 shares of the company’s stock valued at $205,000 after purchasing an additional 12 shares in the last quarter. Prestige Wealth Management Group LLC increased its stake in Eli Lilly and Company by 2.0% during the 4th quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company’s stock valued at $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 valued at $660,000 after purchasing an additional 12 shares in the last quarter. Finally, Garner Asset Management Corp increased its stake in Eli Lilly and Company by 2.3% during 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 in the last quarter. 82.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on LLY shares. HSBC lowered shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and reduced their price objective for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. Hsbc Global Res lowered shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research note on Monday, April 28th. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price target for the company. Erste Group Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. Finally, Guggenheim reiterated a “buy” rating and issued a $936.00 price target on shares of Eli Lilly and Company in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target of $1,011.79.

Eli Lilly and Company Stock Down 2.8%

NYSE:LLY opened at $763.43 on Friday. The firm has a market capitalization of $723.53 billion, a P/E ratio of 62.12, a PEG ratio of 1.11 and a beta of 0.40. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The company’s fifty day moving average price is $780.48 and its 200-day moving average price is $800.93. 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 (NYSE:LLY) last released 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). The business had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The firm’s revenue was up 45.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.58 EPS. As a group, equities research 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 declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were given a dividend of $1.50 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $6.00 annualized dividend and a yield of 0.79%. Eli Lilly and Company’s dividend payout ratio is presently 48.82%.

Eli Lilly and Company 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.