Tyche Wealth Partners LLC Cuts Stake in Eli Lilly and Company (NYSE:LLY)

Tyche Wealth Partners LLC lessened its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 31.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,824 shares of the company’s stock after selling 2,220 shares during the period. Eli Lilly and Company makes up about 0.9% of Tyche Wealth Partners LLC’s portfolio, making the stock its 25th biggest holding. Tyche Wealth Partners LLC’s holdings in Eli Lilly and Company were worth $3,984,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in LLY. Garner Asset Management Corp lifted its stake in shares of Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock worth $411,000 after buying an additional 12 shares during the period. 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 worth $7,409,000 after acquiring an additional 1,730 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in Eli Lilly and Company by 2.8% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company’s stock worth $1,136,000 after acquiring an additional 40 shares during the period. SOA Wealth Advisors LLC. lifted its position in Eli Lilly and Company by 7.1% during the 4th quarter. SOA Wealth Advisors LLC. now owns 925 shares of the company’s stock worth $714,000 after acquiring an additional 61 shares during the period. Finally, Orion Capital Management LLC grew its stake in Eli Lilly and Company by 2.5% during the 4th quarter. Orion Capital Management LLC now owns 1,610 shares of the company’s stock valued at $1,243,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

Wall Street Analyst Weigh In

LLY has been the topic of a number of recent research reports. UBS Group dropped their target price on 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. Cantor Fitzgerald began coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price objective on the stock. Hsbc Global Res cut shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. Erste Group Bank downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Thursday, June 5th. Finally, HSBC downgraded Eli Lilly and Company from a “buy” rating to a “reduce” rating and cut their price target for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average target price of $1,011.61.

Eli Lilly and Company Stock Performance

NYSE:LLY opened at $795.97 on Friday. The company has a market cap of $754.37 billion, a P/E ratio of 64.77, a P/E/G ratio of 1.16 and a beta of 0.40. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The company’s 50-day moving average price is $781.50 and its 200-day moving average price is $800.11. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18.

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

Eli Lilly and Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a yield of 0.75%. Eli Lilly and Company’s payout ratio is 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.