Richmond Investment Services LLC Invests $424,000 in Eli Lilly and Company (NYSE:LLY)

Richmond Investment Services LLC bought a new position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 549 shares of the company's stock, valued at approximately $424,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Knightsbridge Asset Management LLC boosted its position in shares of Eli Lilly and Company by 1.9% during the fourth quarter. Knightsbridge Asset Management LLC now owns 813 shares of the company's stock worth $628,000 after buying an additional 15 shares during the period. Centerpoint Advisory Group purchased a new position in shares of Eli Lilly and Company during the fourth quarter worth $514,000. Kentucky Trust Co purchased a new position in shares of Eli Lilly and Company during the fourth quarter worth $834,000. CSM Advisors LLC boosted its position in shares of Eli Lilly and Company by 30.6% during the fourth quarter. CSM Advisors LLC now owns 1,045 shares of the company's stock worth $807,000 after buying an additional 245 shares during the period. Finally, Proficio Capital Partners LLC boosted its position in shares of Eli Lilly and Company by 30.2% during the fourth quarter. Proficio Capital Partners LLC now owns 6,739 shares of the company's stock worth $5,202,000 after buying an additional 1,562 shares during the period. Institutional investors and hedge funds own 82.53% of the company's stock.

Insider Buying and Selling

In related news, CAO Donald A. Zakrowski sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the sale, the chief accounting officer now owns 5,840 shares of the company's stock, valued at approximately $4,778,521.60. This represents a 14.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.13% of the company's stock.

Wall Street Analyst Weigh In

LLY has been the subject of several research analyst reports. Wells Fargo & Company restated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Citigroup decreased their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. Wall Street Zen upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Truist Financial lifted their target price on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Eli Lilly and Company currently has an average rating of "Moderate Buy" and an average price target of $1,011.37.

Eli Lilly and Company Stock Performance

Shares of LLY traded up $11.03 during midday trading on Tuesday, reaching $724.74. 3,774,065 shares of the stock were exchanged, compared to its average volume of 3,623,021. The business's 50-day moving average price is $786.82 and its 200 day moving average price is $802.40. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 0.97. Eli Lilly and Company has a twelve month low of $677.09 and a twelve month high of $972.53. The company has a market capitalization of $686.86 billion, a price-to-earnings ratio of 61.89, a PEG ratio of 1.40 and a beta of 0.48.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $3.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a net margin of 23.51% and a return on equity of 85.24%. The company had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same quarter last year, the firm earned $2.58 EPS. The business's revenue was up 45.2% on a year-over-year basis. On average, sell-side analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 16th will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a 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%.

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.