DMC Group LLC Decreases Position in Eli Lilly and Company (NYSE:LLY)

by · The Cerbat Gem

DMC Group LLC trimmed its position in Eli Lilly and Company (NYSE:LLY – Free Report) by 7.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 772 shares of the company’s stock after selling 60 shares during the quarter. DMC Group LLC’s holdings in Eli Lilly and Company were worth $638,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of LLY. Garner Asset Management Corp raised its holdings in shares of Eli Lilly and Company by 2.3% in the 4th quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after purchasing an additional 12 shares in the last quarter. Brighton Jones LLC raised its stake in Eli Lilly and Company by 22.0% during the 4th quarter. Brighton Jones LLC now owns 9,597 shares of the company’s stock worth $7,409,000 after acquiring an additional 1,730 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in Eli Lilly and Company by 2.8% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,471 shares of the company’s stock worth $1,136,000 after acquiring an additional 40 shares in the last quarter. Orion Capital Management LLC raised its stake in Eli Lilly and Company by 2.5% during the 4th quarter. Orion Capital Management LLC now owns 1,610 shares of the company’s stock worth $1,243,000 after acquiring an additional 40 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG raised its stake in Eli Lilly and Company by 4.1% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 64,758 shares of the company’s stock worth $49,993,000 after acquiring an additional 2,568 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on LLY shares. Guggenheim reiterated a “buy” rating and set a $936.00 price target on shares of Eli Lilly and Company in a research note on Friday, June 20th. Hsbc Global Res lowered shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research note on Monday, April 28th. Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $975.00 price target on the stock. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and cut their price target for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company reiterated an “overweight” rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. One 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. According to MarketBeat.com, Eli Lilly and Company currently has a consensus rating of “Moderate Buy” and an average target price of $1,012.22.

Read Our Latest Research Report on LLY

Eli Lilly and Company Stock Up 0.4%

Shares of NYSE:LLY opened at $790.23 on Friday. The company has a market cap of $748.93 billion, a price-to-earnings ratio of 64.30, a PEG ratio of 1.15 and a beta of 0.40. The firm’s 50-day simple moving average is $767.03 and its 200-day simple moving average is $800.01. 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 fifty-two week low of $677.09 and a fifty-two week high of $972.53.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last issued 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). The firm had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The firm’s revenue was up 45.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.58 EPS. As a group, equities research analysts predict 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 announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend 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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