Fonville Wealth Management LLC Sells 35 Shares of Eli Lilly and Company (NYSE:LLY)

Fonville Wealth Management LLC trimmed its stake in shares of Eli Lilly and Company (NYSE:LLY) by 10.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 309 shares of the company’s stock after selling 35 shares during the quarter. Fonville Wealth Management LLC’s holdings in Eli Lilly and Company were worth $255,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Garner Asset Management Corp grew 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 buying an additional 12 shares during the last quarter. Brighton Jones LLC grew its position in shares of Eli Lilly and Company by 22.0% in the fourth 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. Revolve Wealth Partners LLC increased its stake in shares of Eli Lilly and Company by 2.8% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company’s stock worth $1,136,000 after purchasing an additional 40 shares during the period. Orion Capital Management LLC lifted its holdings 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 worth $1,243,000 after purchasing an additional 40 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG boosted its stake in Eli Lilly and Company by 4.1% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 64,758 shares of the company’s stock valued at $49,993,000 after purchasing an additional 2,568 shares during the period. 82.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on LLY shares. Cantor Fitzgerald assumed coverage on Eli Lilly and Company in a research report on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 price objective on the stock. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. HSBC cut shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and dropped their price objective for the stock from $1,150.00 to $700.00 in a research note on Monday, April 28th. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. Finally, UBS Group cut their price target on 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,012.22.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $790.23 on Friday. Eli Lilly and Company has a one year low of $677.09 and a one year high of $972.53. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. The company has a market cap of $748.92 billion, a price-to-earnings ratio of 64.30, a PEG ratio of 1.15 and a beta of 0.40. The firm has a 50 day simple moving average of $767.03 and a 200 day simple moving average of $800.01.

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

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company’s payout ratio is 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.