Wedmont Private Capital Reduces Stock Position in Eli Lilly and Company $LLY

Wedmont Private Capital trimmed its holdings in shares of Eli Lilly and Company (NYSE:LLY – Free Report) by 8.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,477 shares of the company’s stock after selling 1,221 shares during the quarter. Wedmont Private Capital’s holdings in Eli Lilly and Company were worth $11,370,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Wealth Preservation Advisors LLC bought a new position in Eli Lilly and Company during the first quarter valued at $27,000. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Eli Lilly and Company during the second quarter worth $27,000. Evolution Wealth Management Inc. purchased a new position in Eli Lilly and Company during the second quarter worth about $29,000. Steph & Co. lifted its stake in Eli Lilly and Company by 290.0% during the third quarter. Steph & Co. now owns 39 shares of the company’s stock worth $30,000 after purchasing an additional 29 shares in the last quarter. Finally, Financial Gravity Companies Inc. acquired a new position in shares of Eli Lilly and Company during the second quarter worth $31,000. 82.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on LLY shares. National Bankshares set a $1,286.00 price target on Eli Lilly and Company in a research note on Monday, December 1st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Eli Lilly and Company in a research note on Monday, December 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Eli Lilly and Company in a research report on Monday. Bank of America dropped their price objective on Eli Lilly and Company from $1,286.00 to $1,268.00 and set a “buy” rating on the stock in a report on Monday. Finally, Truist Financial boosted their target price on shares of Eli Lilly and Company from $1,038.00 to $1,182.00 and gave the company a “buy” rating in a research note on Wednesday, November 19th. Four analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,141.73.

Check Out Our Latest Stock Report on Eli Lilly and Company

Eli Lilly and Company Price Performance

LLY opened at $1,056.57 on Friday. The firm has a market cap of $998.86 billion, a P/E ratio of 51.69, a PEG ratio of 1.31 and a beta of 0.37. The firm has a 50-day moving average of $956.00 and a 200 day moving average of $828.10. Eli Lilly and Company has a fifty-two week low of $623.78 and a fifty-two week high of $1,111.99. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.24 and a current ratio of 1.55.

Eli Lilly and Company (NYSE:LLY – Get Free Report) last announced its quarterly earnings results on Thursday, October 30th. The company reported $7.02 earnings per share for the quarter, beating the consensus estimate of $6.42 by $0.60. Eli Lilly and Company had a return on equity of 109.52% and a net margin of 30.99%.The company had revenue of $17.60 billion during the quarter, compared to analysts’ expectations of $16.09 billion. During the same period in the previous year, the business earned $1.18 earnings per share. The firm’s quarterly revenue was up 53.9% compared to the same quarter last year. Eli Lilly and Company has set its FY 2025 guidance at 23.000-23.700 EPS. On average, research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Friday, February 13th will be given a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, February 13th. This is an increase from Eli Lilly and Company’s previous quarterly dividend of $1.50. Eli Lilly and Company’s payout ratio is presently 29.35%.

About Eli Lilly and Company

(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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