Birchcreek Wealth Management LLC Sells 115 Shares of Eli Lilly and Company (NYSE:LLY)

Birchcreek Wealth Management LLC reduced its stake in Eli Lilly and Company (NYSE:LLY) by 6.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,599 shares of the company’s stock after selling 115 shares during the period. Eli Lilly and Company comprises 0.8% of Birchcreek Wealth Management LLC’s investment portfolio, making the stock its 21st largest position. Birchcreek Wealth Management LLC’s holdings in Eli Lilly and Company were worth $1,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. GAMMA Investing LLC increased its position in shares of Eli Lilly and Company by 103,831.6% during the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company’s stock valued at $12,278,292,000 after buying an additional 14,852,076 shares during the period. Norges Bank purchased a new stake in Eli Lilly and Company in the fourth quarter worth $8,407,908,000. Wellington Management Group LLP boosted its holdings in shares of Eli Lilly and Company by 19.0% during the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company’s stock valued at $9,747,214,000 after buying an additional 2,012,129 shares in the last quarter. Capital International Investors lifted its position in Eli Lilly and Company by 23.2% during the 4th quarter. Capital International Investors now owns 8,730,758 shares of the company’s stock valued at $6,740,272,000 after acquiring an additional 1,645,222 shares during the period. Finally, Capital Research Global Investors increased its stake in shares of Eli Lilly and Company by 16.1% during the fourth quarter. Capital Research Global Investors now owns 10,757,511 shares of the company’s stock valued at $8,304,811,000 after purchasing an additional 1,493,673 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Price Performance

LLY stock traded up $0.62 during midday trading on Thursday, hitting $799.51. The company’s stock had a trading volume of 574,245 shares, compared to its average volume of 3,757,247. 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 12 month low of $677.09 and a 12 month high of $972.53. The company has a 50 day moving average of $769.41 and a two-hundred day moving average of $799.86. The firm has a market capitalization of $757.73 billion, a price-to-earnings ratio of 65.00, a price-to-earnings-growth ratio of 1.12 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results 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 company had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.77 billion. During the same period in the previous year, the business posted $2.58 earnings per share. The business’s revenue was up 45.2% on a year-over-year basis. On average, analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders 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 dividend yield of 0.75%. Eli Lilly and Company’s dividend payout ratio is currently 48.82%.

Wall Street Analyst Weigh In

LLY has been the topic of a number of analyst reports. Wall Street Zen cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Saturday, June 28th. Hsbc Global Res downgraded shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. UBS Group lowered their price objective 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 reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, Cantor Fitzgerald began 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 for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,012.56.

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.