Symphony Financial Ltd. Co. Lowers Holdings in Eli Lilly and Company (NYSE:LLY)

Symphony Financial Ltd. Co. lowered its stake in shares of Eli Lilly and Company (NYSE:LLY) by 29.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,084 shares of the company’s stock after selling 1,275 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Eli Lilly and Company were worth $2,399,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Lipe & Dalton acquired a new position in Eli Lilly and Company during the fourth quarter valued at approximately $26,000. Tidemark LLC purchased a new stake in shares of Eli Lilly and Company in the fourth quarter worth about $29,000. Core Wealth Advisors Inc. boosted its position in shares of Eli Lilly and Company by 188.2% in the fourth quarter. Core Wealth Advisors Inc. now owns 49 shares of the company’s stock worth $29,000 after buying an additional 32 shares during the period. Frank Rimerman Advisors LLC acquired a new position in Eli Lilly and Company during the 4th quarter worth approximately $37,000. Finally, St. Johns Investment Management Company LLC boosted its holdings in Eli Lilly and Company by 123.3% in the 4th quarter. St. Johns Investment Management Company LLC now owns 67 shares of the company’s stock worth $39,000 after acquiring an additional 37 shares during the period. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Down 0.4 %

NYSE:LLY traded down $3.66 on Friday, hitting $905.38. 3,375,426 shares of the company’s stock traded hands, compared to its average volume of 2,579,751. The company has a market cap of $860.48 billion, a PE ratio of 133.34, a price-to-earnings-growth ratio of 1.98 and a beta of 0.36. Eli Lilly and Company has a 1 year low of $434.34 and a 1 year high of $915.54. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The firm has a 50-day moving average price of $814.40 and a 200-day moving average price of $739.86.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a net margin of 17.08% and a return on equity of 56.98%. The business had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. During the same period in the prior year, the business posted $1.62 earnings per share. Eli Lilly and Company’s revenue for the quarter was up 26.0% compared to the same quarter last year. Equities analysts anticipate that Eli Lilly and Company will post 13.76 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Thursday, August 15th. Eli Lilly and Company’s dividend payout ratio is presently 76.58%.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 9,671 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $902.67, for a total transaction of $8,729,721.57. Following the transaction, the insider now owns 97,574,139 shares of the company’s stock, valued at approximately $88,077,248,051.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Johna Norton sold 7,056 shares of Eli Lilly and Company stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.38, for a total value of $5,781,545.28. Following the transaction, the executive vice president now directly owns 25,428 shares in the company, valued at $20,835,194.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Lilly Endowment Inc sold 9,671 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $902.67, for a total value of $8,729,721.57. Following the sale, the insider now owns 97,574,139 shares of the company’s stock, valued at approximately $88,077,248,051.13. The disclosure for this sale can be found here. Insiders have sold 789,704 shares of company stock valued at $672,385,964 over the last three months. 0.13% of the stock is currently owned by insiders.

Analyst Ratings Changes

LLY has been the topic of a number of analyst reports. Jefferies Financial Group lifted their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. The Goldman Sachs Group upped their price target on shares of Eli Lilly and Company from $650.00 to $723.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. upped their target price on shares of Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Argus upped their price objective on Eli Lilly and Company from $770.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Finally, BMO Capital Markets increased their target price on Eli Lilly and Company from $900.00 to $1,001.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $812.72.

Eli Lilly and Company Profile

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.