Eli Lilly and Company (NYSE:LLY) Stock Position Cut by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC reduced its stake in shares of Eli Lilly and Company (NYSE:LLY) by 3.4% during the first quarter, Holdings Channel reports. The firm owned 31,149 shares of the company’s stock after selling 1,091 shares during the quarter. Eli Lilly and Company makes up approximately 2.4% of Sheaff Brock Investment Advisors LLC’s portfolio, making the stock its 3rd biggest position. Sheaff Brock Investment Advisors LLC’s holdings in Eli Lilly and Company were worth $25,726,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in LLY. Knightsbridge Asset Management LLC grew its position in shares of Eli Lilly and Company by 1.9% in the 4th quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company’s stock worth $628,000 after buying an additional 15 shares during the period. LS Investment Advisors LLC grew its position in shares of Eli Lilly and Company by 1.7% in the 1st quarter. LS Investment Advisors LLC now owns 2,340 shares of the company’s stock worth $1,933,000 after buying an additional 40 shares during the period. Prism Advisors Inc. purchased a new stake in shares of Eli Lilly and Company in the 1st quarter worth about $207,000. CSM Advisors LLC grew its position in shares of Eli Lilly and Company by 30.6% in the 4th quarter. CSM Advisors LLC now owns 1,045 shares of the company’s stock worth $807,000 after buying an additional 245 shares during the period. Finally, Bfsg LLC grew its position in shares of Eli Lilly and Company by 1.4% in the 1st quarter. Bfsg LLC now owns 2,959 shares of the company’s stock worth $2,444,000 after buying an additional 42 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,135.00 target price (up from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. Wells Fargo & Company reaffirmed an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. 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 note on Friday, May 2nd. Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,012.56.

Eli Lilly and Company Price Performance

NYSE LLY opened at $811.73 on Monday. The stock has a market capitalization of $769.31 billion, a price-to-earnings ratio of 66.05, a PEG ratio of 1.18 and a beta of 0.40. Eli Lilly and Company has a 1-year low of $677.09 and a 1-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 business’s fifty day moving average price is $771.95 and its 200-day moving average price is $800.61.

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 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 firm had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. During the same period in the prior year, the company posted $2.58 EPS. The firm’s revenue was up 45.2% compared to the same quarter last year. On average, equities analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

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. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a yield of 0.74%. Eli Lilly and Company’s dividend payout ratio is currently 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.