Bernard Wealth Management Corp. Trims Stake in Eli Lilly and Company (NYSE:LLY)

Bernard Wealth Management Corp. lessened its holdings in Eli Lilly and Company (NYSE:LLY) by 0.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,980 shares of the company’s stock after selling 96 shares during the period. Eli Lilly and Company makes up about 4.4% of Bernard Wealth Management Corp.’s investment portfolio, making the stock its 6th largest position. Bernard Wealth Management Corp.’s holdings in Eli Lilly and Company were worth $9,068,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Azzad Asset Management Inc. ADV bought a new stake in Eli Lilly and Company in the first quarter worth $3,909,000. New England Research & Management Inc. increased its position in Eli Lilly and Company by 12.9% in the first quarter. New England Research & Management Inc. now owns 2,711 shares of the company’s stock worth $2,239,000 after purchasing an additional 310 shares during the last quarter. RTD Financial Advisors Inc. bought a new stake in Eli Lilly and Company in the first quarter worth $231,000. CVA Family Office LLC increased its position in Eli Lilly and Company by 7.1% in the first quarter. CVA Family Office LLC now owns 2,905 shares of the company’s stock worth $2,399,000 after purchasing an additional 192 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC increased its position in Eli Lilly and Company by 7.3% in the first quarter. Elevation Point Wealth Partners LLC now owns 4,325 shares of the company’s stock worth $3,572,000 after purchasing an additional 295 shares during the last quarter. Institutional investors own 82.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Morgan Stanley restated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Cantor Fitzgerald began coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 price objective for the company. Wall Street Zen raised shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Saturday, June 7th. UBS Group dropped their price objective on shares of 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. Finally, Erste Group Bank lowered shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,011.37.

Eli Lilly and Company Stock Up 0.8%

Shares of LLY opened at $818.56 on Friday. The firm has a market capitalization of $775.78 billion, a P/E ratio of 69.90, a P/E/G ratio of 1.40 and a beta of 0.41. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The firm has a fifty day moving average price of $775.43 and a 200-day moving average price of $801.50.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data 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 return on equity of 85.24% and a net margin of 23.51%. The business had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.77 billion. During the same period last year, the company earned $2.58 earnings per share. The firm’s revenue was up 45.2% compared to the same quarter last year. Equities research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 16th were paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Friday, May 16th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 48.82%.

Eli Lilly and Company 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.