Alpha Cubed Investments LLC Buys 1,469 Shares of Eli Lilly and Company (NYSE:LLY)

Alpha Cubed Investments LLC raised its holdings in Eli Lilly and Company (NYSE:LLY - Free Report) by 11.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,940 shares of the company's stock after acquiring an additional 1,469 shares during the quarter. Alpha Cubed Investments LLC's holdings in Eli Lilly and Company were worth $11,513,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of 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. Mascagni Wealth Management Inc. acquired a new position in shares of Eli Lilly and Company in the fourth quarter worth about $43,000. 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. Finally, Prudent Man Investment Management Inc. acquired a new position in shares of Eli Lilly and Company in the fourth quarter worth about $48,000. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. 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. Erste Group Bank lowered shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. The Goldman Sachs Group raised shares of Eli Lilly and Company from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $892.00 to $888.00 in a research report on Tuesday, April 8th. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. Finally, Cantor Fitzgerald started coverage on shares of Eli Lilly and Company in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company presently has a consensus rating of "Moderate Buy" and an average price target of $1,011.61.

Eli Lilly and Company Stock Up 1.3%

LLY traded up $10.17 during midday trading on Wednesday, hitting $787.83. 752,333 shares of the company's stock traded hands, compared to its average volume of 3,656,125. 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 $746.66 billion, a PE ratio of 64.11, a price-to-earnings-growth ratio of 1.13 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 $769.37 and its 200-day simple moving average is $800.14.

Eli Lilly and Company (NYSE:LLY - Get Free Report) 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 net margin of 22.67% and a return on equity of 85.51%. The firm had revenue of $12.73 billion during the quarter, compared to the consensus estimate 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, 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 declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be given 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 dividend payout ratio is 48.82%.

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.