Riversedge Advisors LLC Invests $310,000 in Eli Lilly and Company (NYSE:LLY)

Riversedge Advisors LLC acquired a new position in Eli Lilly and Company (NYSE:LLY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 375 shares of the company's stock, valued at approximately $310,000.

Other hedge funds also recently made changes to their positions in the company. WestEnd Advisors LLC boosted its holdings in shares of Eli Lilly and Company by 210.0% in the first quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock worth $26,000 after buying an additional 21 shares during the period. Citizens National Bank Trust Department boosted its holdings in shares of Eli Lilly and Company by 180.0% in the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock worth $35,000 after buying an additional 27 shares during the period. Financial Gravity Asset Management Inc. acquired a new position in shares of Eli Lilly and Company in the first quarter worth about $40,000. Mascagni Wealth Management Inc. acquired a new position in shares of Eli Lilly and Company in the fourth quarter worth about $43,000. Finally, O Brien Wealth Partners LLC boosted its holdings in shares of Eli Lilly and Company by 25.5% in the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock worth $49,000 after buying an additional 12 shares during the period. Institutional investors and hedge funds own 82.53% of the company's stock.

Eli Lilly and Company Stock Up 0.3%

LLY traded up $2.69 during midday trading on Friday, hitting $793.34. 2,851,585 shares of the company's stock traded hands, compared to its average volume of 3,670,273. Eli Lilly and Company has a one year low of $677.09 and a one year high of $972.53. The company has a market cap of $751.88 billion, a PE ratio of 64.55, a price-to-earnings-growth ratio of 1.16 and a beta of 0.40. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. The stock's fifty day simple moving average is $766.39 and its 200-day simple moving average is $799.99.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The firm had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same quarter in the previous year, the firm posted $2.58 earnings per share. Eli Lilly and Company's quarterly revenue was up 45.2% compared to the same quarter last year. As a group, equities analysts anticipate that Eli Lilly and Company will post 23.48 earnings per share for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is 48.82%.

Analysts Set New Price Targets

LLY has been the subject of several recent analyst reports. The Goldman Sachs Group upgraded shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. HSBC cut shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and decreased their target price for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. Wall Street Zen cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. UBS Group decreased their price target on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Finally, Hsbc Global Res cut shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,012.56.

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.