Founders Financial Alliance LLC Sells 687 Shares of Eli Lilly and Company (NYSE:LLY)

Founders Financial Alliance LLC cut its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 25.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,057 shares of the company’s stock after selling 687 shares during the quarter. Founders Financial Alliance LLC’s holdings in Eli Lilly and Company were worth $1,199,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Avantax Planning Partners Inc. boosted its position in shares of Eli Lilly and Company by 48.1% during the 3rd quarter. Avantax Planning Partners Inc. now owns 3,883 shares of the company’s stock valued at $2,086,000 after acquiring an additional 1,261 shares during the last quarter. Lincoln National Corp boosted its position in shares of Eli Lilly and Company by 10.0% during the third quarter. Lincoln National Corp now owns 14,797 shares of the company’s stock valued at $7,948,000 after purchasing an additional 1,351 shares in the last quarter. Black Swift Group LLC boosted its holdings in Eli Lilly and Company by 199.1% in the third quarter. Black Swift Group LLC now owns 8,000 shares of the company’s stock worth $4,297,000 after acquiring an additional 5,325 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Eli Lilly and Company by 49.4% during the third quarter. Los Angeles Capital Management LLC now owns 622,010 shares of the company’s stock valued at $334,100,000 after buying an additional 205,704 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Eli Lilly and Company by 4.0% in the third quarter. Assenagon Asset Management S.A. now owns 474,940 shares of the company’s stock valued at $255,105,000 after acquiring an additional 18,079 shares during the period. 82.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on LLY shares. Citigroup lifted their target price on Eli Lilly and Company from $675.00 to $895.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Truist Financial boosted their price target on Eli Lilly and Company from $850.00 to $892.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. TheStreet raised Eli Lilly and Company from a “c+” rating to a “b” rating in a report on Friday, March 8th. Wells Fargo & Company increased their price target on Eli Lilly and Company from $700.00 to $825.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Finally, Barclays increased their price objective on Eli Lilly and Company from $680.00 to $810.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $769.53.

Eli Lilly and Company Price Performance

LLY stock traded down $1.02 during mid-day trading on Friday, hitting $807.43. The stock had a trading volume of 1,758,200 shares, compared to its average volume of 2,993,883. The firm has a market capitalization of $767.39 billion, a P/E ratio of 119.20, a P/E/G ratio of 1.75 and a beta of 0.37. 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 fifty day simple moving average of $764.43 and a 200 day simple moving average of $690.85. Eli Lilly and Company has a 52 week low of $419.80 and a 52 week high of $820.60.

Eli Lilly and Company (NYSE:LLY) last released its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.94 billion. During the same quarter in the previous year, the business posted $1.62 EPS. Eli Lilly and Company’s revenue for the quarter was up 26.0% compared to the same quarter last year. As a group, research analysts forecast that Eli Lilly and Company will post 13.78 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Thursday, May 16th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Wednesday, May 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 76.58%.

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.