Wedgewood Investors Inc. PA Cuts Stock Holdings in Eli Lilly and Company (NYSE:LLY)

Wedgewood Investors Inc. PA lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 1.5% during the first quarter, Holdings Channel reports. The fund owned 908 shares of the company’s stock after selling 14 shares during the period. Wedgewood Investors Inc. PA’s holdings in Eli Lilly and Company were worth $750,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. WestEnd Advisors LLC raised its position in Eli Lilly and Company by 210.0% in the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company’s stock valued at $26,000 after purchasing an additional 21 shares in the last quarter. Citizens National Bank Trust Department increased its stake in shares of Eli Lilly and Company by 180.0% during 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 during the period. Mascagni Wealth Management Inc. purchased a new stake in shares of Eli Lilly and Company during the fourth quarter worth approximately $43,000. Prudent Man Investment Management Inc. purchased a new stake in shares of Eli Lilly and Company during the fourth quarter worth approximately $48,000. Finally, O Brien Wealth Partners LLC increased 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 worth $49,000 after buying an additional 12 shares during the period. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Wall Street Analysts Forecast Growth

LLY has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Saturday, June 28th. Wells Fargo & Company reissued an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Morgan Stanley reissued an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. HSBC downgraded Eli Lilly and Company from a “buy” rating to a “reduce” rating and dropped their price objective for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. Finally, Cantor Fitzgerald started coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price objective on the stock. 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,011.61.

Eli Lilly and Company Stock Performance

NYSE LLY opened at $779.60 on Friday. 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 has a 52-week low of $677.09 and a 52-week high of $972.53. The business’s 50-day moving average price is $773.61 and its 200 day moving average price is $799.96. The firm has a market cap of $738.85 billion, a P/E ratio of 63.43, a P/E/G ratio of 1.14 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY) last announced its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.77 billion. During the same quarter last year, the business posted $2.58 earnings per share. The company’s revenue for the quarter was up 45.2% compared to the same quarter last year. On average, equities research analysts expect that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be given a $1.50 dividend. 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 0.77%. Eli Lilly and Company’s dividend payout ratio (DPR) is 48.82%.

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.