Keyvantage Wealth LLC Has $511,000 Stock Position in Eli Lilly and Company (NYSE:LLY)

Keyvantage Wealth LLC lowered its stake in Eli Lilly and Company (NYSE:LLY) by 50.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 619 shares of the company’s stock after selling 634 shares during the quarter. Keyvantage Wealth LLC’s holdings in Eli Lilly and Company were worth $511,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. WestEnd Advisors LLC grew its holdings in Eli Lilly and Company by 210.0% during the first quarter. WestEnd Advisors LLC now owns 31 shares of the company’s stock worth $26,000 after purchasing an additional 21 shares during the period. Citizens National Bank Trust Department grew its holdings in Eli Lilly and Company by 180.0% during the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company’s stock worth $35,000 after purchasing an additional 27 shares during the period. Financial Gravity Asset Management Inc. bought a new position in Eli Lilly and Company during the first quarter worth about $40,000. Mascagni Wealth Management Inc. bought a new position in Eli Lilly and Company during the fourth quarter worth about $43,000. Finally, Prudent Man Investment Management Inc. bought a new position in Eli Lilly and Company during the fourth quarter worth about $48,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on LLY shares. Hsbc Global Res cut Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a report on Monday, April 28th. Erste Group Bank cut Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. Morgan Stanley restated an “overweight” rating and set a $1,135.00 price objective (up previously from $1,133.00) on shares of Eli Lilly and Company in a report on Thursday, July 10th. Guggenheim boosted their price objective on Eli Lilly and Company from $936.00 to $942.00 and gave the stock a “buy” rating in a report on Friday, July 11th. Finally, HSBC cut Eli Lilly and Company from a “buy” rating to a “reduce” rating and reduced their price objective for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,012.56.

Eli Lilly and Company Stock Up 0.8%

Shares of LLY opened at $811.73 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 market cap of $769.30 billion, a P/E ratio of 66.05, a P/E/G ratio of 1.18 and a beta of 0.40. 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 firm has a 50 day simple moving average of $771.95 and a two-hundred day simple moving average of $800.51.

Eli Lilly and Company (NYSE:LLY) last announced its quarterly earnings data on Thursday, May 1st. The company reported $3.34 EPS 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 analyst estimates of $12.77 billion. During the same quarter in the prior year, the firm earned $2.58 earnings per share. The firm’s revenue for the quarter was up 45.2% on a year-over-year basis. Research analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be given a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.74%. Eli Lilly and Company’s dividend payout ratio 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.