Richmond Investment Services LLC Buys Shares of 549 Eli Lilly and Company (NYSE:LLY)

Richmond Investment Services LLC bought a new stake in Eli Lilly and Company (NYSE:LLY - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 549 shares of the company's stock, valued at approximately $424,000.

Several other hedge funds have also bought and sold shares of LLY. Norges Bank purchased a new stake in shares of Eli Lilly and Company in the fourth quarter valued at about $8,407,908,000. Proficio Capital Partners LLC increased its position in shares of Eli Lilly and Company by 100,387.1% during the fourth quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company's stock valued at $4,016,110,000 after acquiring an additional 5,197,038 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Eli Lilly and Company by 19.0% during the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after acquiring an additional 2,012,129 shares during the period. Capital International Investors lifted its holdings in Eli Lilly and Company by 23.2% during the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company's stock worth $6,740,272,000 after acquiring an additional 1,645,222 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Eli Lilly and Company in the fourth quarter worth $1,240,653,000. Institutional investors and hedge funds own 82.53% of the company's stock.

Eli Lilly and Company Trading Down 0.6%

NYSE LLY traded down $4.52 during mid-day trading on Wednesday, hitting $720.70. The company's stock had a trading volume of 1,195,179 shares, compared to its average volume of 3,613,566. The stock's fifty day simple moving average is $784.45 and its two-hundred day simple moving average is $801.86. Eli Lilly and Company has a 52-week low of $677.09 and a 52-week high of $972.53. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. The firm has a market capitalization of $683.04 billion, a P/E ratio of 61.53, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced 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). The business had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. Eli Lilly and Company's quarterly revenue was up 45.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.58 EPS. Research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, May 16th. Eli Lilly and Company's payout ratio is 48.82%.

Wall Street Analyst Weigh In

LLY has been the subject of several research analyst reports. Hsbc Global Res lowered Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 price objective for the company. HSBC lowered shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their price objective for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and reduced their target price for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. Finally, Truist Financial lifted their price target on shares of Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, Eli Lilly and Company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,011.37.

Insider Transactions at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $818.24, for a total value of $818,240.00. Following the completion of the sale, the chief accounting officer now directly owns 5,840 shares in the company, valued at approximately $4,778,521.60. This represents a 14.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.13% of the stock is currently owned by insiders.

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.