Eli Lilly and Company (NYSE:LLY) Shares Sold by Archer Investment Corp

by · The Cerbat Gem

Archer Investment Corp cut its stake in Eli Lilly and Company (NYSE:LLY – Free Report) by 1.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 2,793 shares of the company’s stock after selling 34 shares during the quarter. Archer Investment Corp’s holdings in Eli Lilly and Company were worth $2,307,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Eli Lilly and Company by 49.2% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 90,635 shares of the company’s stock worth $74,856,000 after buying an additional 29,907 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Eli Lilly and Company by 8.9% during the 1st quarter. Jennison Associates LLC now owns 5,221,016 shares of the company’s stock worth $4,312,089,000 after buying an additional 424,693 shares during the last quarter. Alexander Labrunerie & CO. Inc. increased its holdings in shares of Eli Lilly and Company by 2.7% during the 1st quarter. Alexander Labrunerie & CO. Inc. now owns 1,010 shares of the company’s stock worth $834,000 after buying an additional 27 shares during the last quarter. Burling Wealth Partners LLC increased its holdings in Eli Lilly and Company by 10.0% in the 1st quarter. Burling Wealth Partners LLC now owns 8,988 shares of the company’s stock valued at $7,423,000 after purchasing an additional 820 shares during the last quarter. Finally, Mystic Asset Management Inc. increased its holdings in Eli Lilly and Company by 1.9% in the 1st quarter. Mystic Asset Management Inc. now owns 2,668 shares of the company’s stock valued at $2,204,000 after purchasing an additional 50 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. Guggenheim lifted their price objective on shares of Eli Lilly and Company from $936.00 to $942.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Morgan Stanley reaffirmed an “overweight” rating and set a $1,135.00 price objective (up from $1,133.00) on shares of Eli Lilly and Company in a research report on Thursday, July 10th. Finally, Wall Street Zen cut shares of Eli Lilly and Company from a “buy” rating to a “hold” rating in a research report on Saturday, June 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,012.56.

Check Out Our Latest Report on LLY

Eli Lilly and Company Trading Up 1.8%

Shares of LLY traded up $13.99 on Friday, hitting $775.49. 731,801 shares of the stock traded hands, compared to its average volume of 3,672,176. Eli Lilly and Company has a 1 year low of $677.09 and a 1 year 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. The stock’s 50 day moving average is $766.32 and its two-hundred day moving average is $799.83. The firm has a market capitalization of $734.96 billion, a P/E ratio of 63.02, a P/E/G ratio of 1.15 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same period in the previous year, the company earned $2.58 EPS. Eli Lilly and Company’s revenue was up 45.2% on a year-over-year basis. As a group, sell-side 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company’s payout ratio is 48.82%.

Eli Lilly and Company Profile

(Free Report)

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.

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