Empirical Financial Services LLC d.b.a. Empirical Wealth Management Sells 606 Shares of Eli Lilly and Company (NYSE:LLY)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management cut its position in shares of Eli Lilly and Company (NYSE:LLY) by 11.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,564 shares of the company’s stock after selling 606 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Eli Lilly and Company were worth $2,661,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC raised its stake in Eli Lilly and Company by 61,268.8% during the fourth quarter. International Assets Investment Management LLC now owns 7,342,780 shares of the company’s stock valued at $42,802,530,000 after buying an additional 7,330,815 shares during the last quarter. Sapient Capital LLC bought a new stake in Eli Lilly and Company during the fourth quarter valued at about $682,139,000. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Eli Lilly and Company during the third quarter valued at about $435,736,000. Vanguard Group Inc. grew its holdings in Eli Lilly and Company by 0.9% during the third quarter. Vanguard Group Inc. now owns 70,575,602 shares of the company’s stock valued at $37,908,273,000 after purchasing an additional 659,838 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Eli Lilly and Company by 24.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,310,859 shares of the company’s stock worth $1,778,362,000 after acquiring an additional 645,473 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Eli Lilly and Company Stock Performance

Shares of LLY stock traded up $11.09 on Tuesday, hitting $777.77. The company had a trading volume of 2,842,407 shares, compared to its average volume of 3,088,457. The firm has a market cap of $739.20 billion, a P/E ratio of 114.55, a price-to-earnings-growth ratio of 1.45 and a beta of 0.37. The company has a 50-day moving average price of $761.22 and a 200-day moving average price of $674.88. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. Eli Lilly and Company has a twelve month low of $419.80 and a twelve month high of $800.78.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings data on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.05. The business had revenue of $8.77 billion during the quarter, compared to analysts’ expectations of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.62 EPS. As a group, equities research analysts predict that Eli Lilly and Company will post 13.82 earnings per share for the current fiscal year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Thursday, May 16th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.67%. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 76.58%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on LLY shares. DZ Bank lowered Eli Lilly and Company from a “buy” rating to a “hold” rating and set a $820.00 price objective for the company. in a research note on Wednesday, February 21st. Erste Group Bank upgraded Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. BMO Capital Markets increased their price target 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. Morgan Stanley raised their price objective on Eli Lilly and Company from $805.00 to $950.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. lifted their price target on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $757.95.

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.