Lake Street Private Wealth LLC Sells 360 Shares of Eli Lilly and Company (NYSE:LLY)

Lake Street Private Wealth LLC decreased its holdings in Eli Lilly and Company (NYSE:LLY) by 5.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,694 shares of the company’s stock after selling 360 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Eli Lilly and Company were worth $4,703,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Elevate Capital Advisors LLC bought a new position in shares of Eli Lilly and Company in the 4th quarter valued at about $262,000. Capital & Planning LLC lifted its stake in Eli Lilly and Company by 15.6% in the fourth quarter. Capital & Planning LLC now owns 481 shares of the company’s stock valued at $371,000 after buying an additional 65 shares in the last quarter. Garner Asset Management Corp lifted its stake in Eli Lilly and Company by 2.3% in the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company’s stock valued at $411,000 after buying an additional 12 shares in the last quarter. Brighton Jones LLC lifted its stake in Eli Lilly and Company by 22.0% in the fourth quarter. Brighton Jones LLC now owns 9,597 shares of the company’s stock valued at $7,409,000 after buying an additional 1,730 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Eli Lilly and Company in the fourth quarter worth $49,534,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

Eli Lilly and Company Trading Up 2.1%

Shares of Eli Lilly and Company stock opened at $766.78 on Thursday. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The stock’s 50-day simple moving average is $772.75 and its 200 day simple moving average is $799.41. The stock has a market capitalization of $726.71 billion, a P/E ratio of 65.48, a P/E/G ratio of 1.40 and a beta of 0.48. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15.

Eli Lilly and Company (NYSE:LLY) last posted its earnings results on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts’ consensus estimates of $4.64 by ($1.30). The company had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $12.77 billion. Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The firm’s quarterly revenue was up 45.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.58 EPS. As a group, research analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, May 16th. Eli Lilly and Company’s payout ratio is 48.82%.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the sale, the chief accounting officer now owns 5,840 shares in the company, valued at $4,778,521.60. The trade was a 14.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.13% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price objective on the stock. Morgan Stanley reissued an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Wall Street Zen upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Friday, May 30th. HSBC downgraded shares of Eli Lilly and Company from a “buy” rating to a “reduce” rating and decreased their price target for the company from $1,150.00 to $700.00 in a research note on Monday, April 28th. Finally, The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $892.00 to $888.00 in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,011.37.

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.