Cornerstone Wealth Group LLC Sells 115 Shares of Eli Lilly and Company (NYSE:LLY)

Cornerstone Wealth Group LLC lessened its position in Eli Lilly and Company (NYSE:LLY) by 0.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 12,533 shares of the company’s stock after selling 115 shares during the period. Cornerstone Wealth Group LLC’s holdings in Eli Lilly and Company were worth $10,351,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Mascagni Wealth Management Inc. acquired a new stake in Eli Lilly and Company in the 4th quarter valued at $43,000. Prudent Man Investment Management Inc. bought a new position in shares of Eli Lilly and Company in the fourth quarter valued at $48,000. Highline Wealth Partners LLC grew its holdings in shares of Eli Lilly and Company by 53.3% during the first quarter. Highline Wealth Partners LLC now owns 69 shares of the company’s stock valued at $57,000 after buying an additional 24 shares during the last quarter. Capital A Wealth Management LLC bought a new stake in shares of Eli Lilly and Company during the fourth quarter worth about $63,000. Finally, Bellwether Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the 4th quarter worth about $66,000. Institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LLY. UBS Group dropped their price target on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Wells Fargo & Company restated an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Guggenheim reiterated a “buy” rating and set a $936.00 price target on shares of Eli Lilly and Company in a report on Friday, June 20th. Cantor Fitzgerald initiated coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price target for the company. Finally, The Goldman Sachs Group raised shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,011.61.

Eli Lilly and Company Stock Up 1.1%

Eli Lilly and Company stock opened at $778.97 on Wednesday. The firm has a 50 day moving average price of $781.26 and a 200-day moving average price of $800.21. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The company has a market capitalization of $738.26 billion, a P/E ratio of 63.38, a P/E/G ratio of 1.13 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The firm had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same period last year, the company posted $2.58 earnings per share. Eli Lilly and Company’s revenue for the quarter was up 45.2% on a year-over-year basis. As a group, equities analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.77%. The ex-dividend date is Friday, August 15th. 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.