Eli Lilly and Company (NYSE:LLY) Stock Position Lowered by Blodgett Wealth Advisors LLC

Blodgett Wealth Advisors LLC cut its holdings in Eli Lilly and Company (NYSE:LLY) by 2.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,022 shares of the company’s stock after selling 125 shares during the period. Eli Lilly and Company accounts for 3.5% of Blodgett Wealth Advisors LLC’s investment portfolio, making the stock its 7th biggest position. Blodgett Wealth Advisors LLC’s holdings in Eli Lilly and Company were worth $4,148,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. FPC Investment Advisory Inc. lifted its holdings in Eli Lilly and Company by 358.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 55 shares of the company’s stock worth $45,000 after purchasing an additional 43 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new position in Eli Lilly and Company during the 4th quarter valued at about $43,000. Prudent Man Investment Management Inc. bought a new stake in shares of Eli Lilly and Company during the fourth quarter valued at about $48,000. Capital A Wealth Management LLC purchased a new stake in shares of Eli Lilly and Company in the fourth quarter worth about $63,000. Finally, Bellwether Advisors LLC purchased a new stake in shares of Eli Lilly and Company in the fourth quarter worth about $66,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY stock opened at $818.56 on Friday. The company’s fifty day moving average price is $775.43 and its 200-day moving average price is $801.59. The stock has a market cap of $775.78 billion, a PE ratio of 69.90, a price-to-earnings-growth ratio of 1.40 and a beta of 0.41. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53.

Eli Lilly and Company (NYSE:LLY) last posted its quarterly earnings data on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). The business had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a return on equity of 85.24% and a net margin of 23.51%. During the same period in the previous year, the firm earned $2.58 EPS. The company’s revenue was up 45.2% on a year-over-year basis. On average, equities analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 0.73%. The ex-dividend date was Friday, May 16th. Eli Lilly and Company’s dividend payout ratio (DPR) is 48.82%.

Analyst Ratings Changes

Several equities analysts recently commented on LLY shares. The Goldman Sachs Group raised shares of Eli Lilly and Company from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Morgan Stanley restated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an “overweight” rating and a $975.00 price target on the stock. Erste Group Bank lowered Eli Lilly and Company from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. Finally, Wells Fargo & Company restated an “overweight” rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently 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.