Argus Investors Counsel Inc. Lowers Holdings in Eli Lilly and Company (NYSE:LLY)

Argus Investors Counsel Inc. cut its stake in shares of Eli Lilly and Company (NYSE:LLY) by 8.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,824 shares of the company’s stock after selling 424 shares during the quarter. Eli Lilly and Company makes up 3.0% of Argus Investors Counsel Inc.’s portfolio, making the stock its 4th largest holding. Argus Investors Counsel Inc.’s holdings in Eli Lilly and Company were worth $3,984,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. increased 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 valued at $45,000 after purchasing an additional 43 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new position in shares of Eli Lilly and Company during the fourth quarter worth approximately $43,000. Prudent Man Investment Management Inc. bought a new stake in shares of Eli Lilly and Company during the fourth quarter valued at approximately $48,000. Capital A Wealth Management LLC bought a new stake in shares of Eli Lilly and Company during the fourth quarter valued at approximately $63,000. Finally, Bellwether Advisors LLC acquired a new stake in shares of Eli Lilly and Company in the fourth quarter valued at approximately $66,000. 82.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LLY has been the topic of a number of recent research reports. HSBC lowered Eli Lilly and Company from a “buy” rating to a “reduce” rating and decreased their price objective for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. Guggenheim reiterated a “buy” rating on shares of Eli Lilly and Company in a report on Friday, May 23rd. Hsbc Global Res cut shares of Eli Lilly and Company from a “strong-buy” rating to a “moderate sell” rating in a research report on Monday, April 28th. Wells Fargo & Company restated an “overweight” rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,011.37.

Eli Lilly and Company Stock Performance

LLY stock opened at $811.62 on Friday. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The company has a current ratio of 1.15, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The firm has a market cap of $769.20 billion, a PE ratio of 69.31, a P/E/G ratio of 1.40 and a beta of 0.41. The business’s 50-day moving average price is $773.53 and its two-hundred day moving average price is $801.30.

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

Eli Lilly and Company Announces Dividend

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 dividend of $1.50 per share. The ex-dividend date was Friday, May 16th. This represents a $6.00 annualized dividend and a yield of 0.74%. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 48.82%.

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.