Denali Advisors LLC Decreases Stake in Eli Lilly and Company (NYSE:LLY)

Denali Advisors LLC cut its stake in Eli Lilly and Company (NYSE:LLY) by 1.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,516 shares of the company’s stock after selling 172 shares during the period. Eli Lilly and Company accounts for 1.3% of Denali Advisors LLC’s investment portfolio, making the stock its 9th largest holding. Denali Advisors LLC’s holdings in Eli Lilly and Company were worth $11,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. WestEnd Advisors LLC boosted its position in shares of Eli Lilly and Company by 210.0% in the first quarter. WestEnd Advisors LLC now owns 31 shares of the company’s stock valued at $26,000 after acquiring an additional 21 shares during the period. Citizens National Bank Trust Department boosted its stake in Eli Lilly and Company by 180.0% in the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company’s stock worth $35,000 after buying an additional 27 shares in the last quarter. Financial Gravity Asset Management Inc. purchased a new position in shares of Eli Lilly and Company during the first quarter worth approximately $40,000. Mascagni Wealth Management Inc. bought a new position in shares of Eli Lilly and Company during the 4th quarter valued at $43,000. Finally, O Brien Wealth Partners LLC grew its stake in shares of Eli Lilly and Company by 25.5% during the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company’s stock valued at $49,000 after buying an additional 12 shares during the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock opened at $771.78 on Friday. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53. The firm’s 50-day moving average is $767.03 and its two-hundred day moving average is $799.83. The stock has a market capitalization of $731.45 billion, a P/E ratio of 62.80, a P/E/G ratio of 1.11 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.

Eli Lilly and Company (NYSE:LLY) last released 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 return on equity of 85.51% and a net margin of 22.67%. The firm had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same quarter last year, the company earned $2.58 earnings per share. The business’s revenue for the quarter was up 45.2% on a year-over-year basis. Equities analysts predict that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given a $1.50 dividend. The ex-dividend date is Friday, August 15th. This represents a $6.00 annualized dividend and a dividend yield of 0.78%. Eli Lilly and Company’s dividend payout ratio is currently 48.82%.

Analyst Ratings Changes

A number of brokerages have weighed in on LLY. Wall Street Zen downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Saturday, June 28th. Erste Group Bank downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 target price for the company. UBS Group reduced their target price 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 report on Friday, May 2nd. Finally, 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 report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average 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.