Schnieders Capital Management LLC Trims Stake in Eli Lilly and Company (NYSE:LLY)

Schnieders Capital Management LLC trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 8.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,852 shares of the company’s stock after selling 667 shares during the quarter. Eli Lilly and Company comprises about 1.2% of Schnieders Capital Management LLC’s holdings, making the stock its 24th largest position. Schnieders Capital Management LLC’s holdings in Eli Lilly and Company were worth $5,659,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Hemington Wealth Management grew its position in Eli Lilly and Company by 14.4% during the first quarter. Hemington Wealth Management now owns 985 shares of the company’s stock worth $813,000 after buying an additional 124 shares in the last quarter. Fi3 FINANCIAL ADVISORS LLC lifted its stake in Eli Lilly and Company by 0.7% during the first quarter. Fi3 FINANCIAL ADVISORS LLC now owns 15,019 shares of the company’s stock worth $12,405,000 after purchasing an additional 102 shares during the last quarter. Nicholas Hoffman & Company LLC. lifted its stake in Eli Lilly and Company by 0.8% during the first quarter. Nicholas Hoffman & Company LLC. now owns 9,706 shares of the company’s stock worth $8,016,000 after purchasing an additional 77 shares during the last quarter. Leeward Financial Partners LLC lifted its stake in Eli Lilly and Company by 3.6% during the first quarter. Leeward Financial Partners LLC now owns 6,653 shares of the company’s stock worth $5,495,000 after purchasing an additional 231 shares during the last quarter. Finally, WealthShield Partners LLC lifted its stake in Eli Lilly and Company by 10.3% during the first quarter. WealthShield Partners LLC now owns 3,287 shares of the company’s stock worth $2,715,000 after purchasing an additional 306 shares during the last quarter. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Trading Down 0.3%

LLY opened at $766.47 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 1.06 and a debt-to-equity ratio of 2.18. The firm has a market cap of $726.41 billion, a P/E ratio of 62.37, a P/E/G ratio of 1.09 and a beta of 0.44. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. The stock has a 50-day moving average of $777.42 and a 200 day moving average of $800.57.

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 paid a $1.50 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 annualized dividend and a yield of 0.8%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 48.82%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LLY shares. UBS Group lowered their target price on 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. Erste Group Bank downgraded Eli Lilly and Company from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. The Goldman Sachs Group upgraded Eli Lilly and Company from a “neutral” rating to a “buy” rating and reduced their price target for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. Wells Fargo & Company restated an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, HSBC lowered Eli Lilly and Company from a “buy” rating to a “reduce” rating and decreased their target price for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,012.56.

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.