407 Shares in Eli Lilly and Company (NYSE:LLY) Acquired by Rainey & Randall Wealth Advisors Inc.

Rainey & Randall Wealth Advisors Inc. bought a new stake in Eli Lilly and Company (NYSE:LLY - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 407 shares of the company's stock, valued at approximately $336,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Iron Horse Wealth Management LLC boosted its position in shares of Eli Lilly and Company by 100.0% during the first quarter. Iron Horse Wealth Management LLC now owns 66 shares of the company's stock worth $55,000 after buying an additional 33 shares during the period. Westmount Partners LLC boosted its position in shares of Eli Lilly and Company by 3.6% during the first quarter. Westmount Partners LLC now owns 2,144 shares of the company's stock worth $1,771,000 after buying an additional 75 shares during the period. Mason Investment Advisory Services Inc. raised its holdings in Eli Lilly and Company by 22.2% during the first quarter. Mason Investment Advisory Services Inc. now owns 330 shares of the company's stock worth $273,000 after acquiring an additional 60 shares in the last quarter. Stephens Inc. AR raised its holdings in Eli Lilly and Company by 3.4% during the first quarter. Stephens Inc. AR now owns 36,485 shares of the company's stock worth $30,133,000 after acquiring an additional 1,197 shares in the last quarter. Finally, Prism Advisors Inc. bought a new stake in Eli Lilly and Company during the first quarter worth about $207,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on LLY. Guggenheim upped their target price on Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a report on Friday, July 11th. HSBC lowered Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their target price for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. UBS Group dropped their target price on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Cantor Fitzgerald began coverage on Eli Lilly and Company in a report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 target price on the stock. Finally, The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. One 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,012.56.

Eli Lilly and Company Stock Performance

Shares of NYSE LLY traded up $17.16 during trading hours on Wednesday, reaching $788.91. 3,254,125 shares of the stock were exchanged, compared to its average volume of 3,682,457. The firm has a market capitalization of $747.68 billion, a price-to-earnings ratio of 64.19, a P/E/G ratio of 1.12 and a beta of 0.40. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53. The stock's fifty day simple moving average is $765.88 and its 200 day simple moving average is $799.99.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its earnings results 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). The firm 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 85.51% and a net margin of 22.67%. Eli Lilly and Company's revenue for the quarter was up 45.2% on a year-over-year basis. During the same quarter last year, the business posted $2.58 EPS. Sell-side analysts predict that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.76%. 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.