Forte Capital LLC ADV Sells 344 Shares of Eli Lilly and Company (NYSE:LLY)

Forte Capital LLC ADV cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 15.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,873 shares of the company’s stock after selling 344 shares during the period. Forte Capital LLC ADV’s holdings in Eli Lilly and Company were worth $1,547,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Commerzbank Aktiengesellschaft FI grew its position in shares of Eli Lilly and Company by 369.3% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 40,558 shares of the company’s stock valued at $33,497,000 after acquiring an additional 31,915 shares during the period. Kooman & Associates boosted its holdings in Eli Lilly and Company by 7.5% in the 1st quarter. Kooman & Associates now owns 402 shares of the company’s stock worth $332,000 after buying an additional 28 shares during the period. Kingsview Wealth Management LLC boosted its holdings in Eli Lilly and Company by 8.8% in the 1st quarter. Kingsview Wealth Management LLC now owns 69,445 shares of the company’s stock worth $57,355,000 after buying an additional 5,600 shares during the period. Members Trust Co boosted its holdings in Eli Lilly and Company by 42.9% in the 1st quarter. Members Trust Co now owns 610 shares of the company’s stock worth $504,000 after buying an additional 183 shares during the period. Finally, Archvest Wealth Advisors Inc. boosted its holdings in Eli Lilly and Company by 1.3% in the 1st quarter. Archvest Wealth Advisors Inc. now owns 2,134 shares of the company’s stock worth $1,763,000 after buying an additional 28 shares during the period. 82.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wall Street Zen downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Saturday, June 28th. UBS Group cut 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 report on Friday, May 2nd. The Goldman Sachs Group raised shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Cantor Fitzgerald began 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 target price on the stock. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Eli Lilly and Company presently has an average rating of “Moderate Buy” and an average price target of $1,012.56.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $788.91 on Thursday. The stock has a market cap of $747.68 billion, a PE ratio of 64.19, a PEG ratio of 1.12 and a beta of 0.40. The company’s fifty day moving average is $766.12 and its 200 day moving average is $799.91. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. 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 (NYSE:LLY) last announced its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). The firm had revenue of $12.73 billion during the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. Eli Lilly and Company’s revenue was up 45.2% on a year-over-year basis. During the same period last year, the business earned $2.58 EPS. Research analysts anticipate 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 declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors 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 yield of 0.76%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 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.