Alpha Wealth Funds LLC Acquires New Position in Eli Lilly and Company (NYSE:LLY)

Alpha Wealth Funds LLC purchased a new position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 616 shares of the company's stock, valued at approximately $477,000. Eli Lilly and Company comprises 0.5% of Alpha Wealth Funds LLC's holdings, making the stock its 29th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Grassi Investment Management raised its holdings in Eli Lilly and Company by 0.3% during the fourth quarter. Grassi Investment Management now owns 79,512 shares of the company's stock worth $61,383,000 after purchasing an additional 225 shares in the last quarter. Elevate Capital Advisors LLC purchased a new position in Eli Lilly and Company during the fourth quarter worth $262,000. Capital & Planning LLC raised its stake in Eli Lilly and Company by 15.6% in the 4th quarter. Capital & Planning LLC now owns 481 shares of the company's stock valued at $371,000 after purchasing an additional 65 shares during the last quarter. Garner Asset Management Corp lifted its stake in shares of Eli Lilly and Company by 2.3% during the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock valued at $411,000 after buying an additional 12 shares during the period. Finally, Brighton Jones LLC lifted its stake in shares of Eli Lilly and Company by 22.0% during the 4th quarter. Brighton Jones LLC now owns 9,597 shares of the company's stock worth $7,409,000 after purchasing an additional 1,730 shares during the period. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

Shares of Eli Lilly and Company stock traded up $1.52 on Thursday, reaching $720.91. 2,785,058 shares of the company were exchanged, compared to its average volume of 3,621,599. The firm has a market cap of $683.24 billion, a price-to-earnings ratio of 61.56, a P/E/G ratio of 1.40 and a beta of 0.48. Eli Lilly and Company has a 1-year low of $677.09 and a 1-year high of $972.53. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The company's 50-day moving average is $782.03 and its two-hundred day moving average is $801.29.

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

Eli Lilly and Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 16th will be issued a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.83%. Eli Lilly and Company's dividend payout ratio (DPR) is presently 48.82%.

Analysts Set New Price Targets

LLY has been the subject of several research analyst reports. HSBC lowered shares of Eli Lilly and Company from a "buy" rating to a "reduce" rating and dropped their price target for the stock from $1,150.00 to $700.00 in a research report on Monday, April 28th. Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Hsbc Global Res lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. Truist Financial boosted their price objective on Eli Lilly and Company from $1,029.00 to $1,038.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Finally, Wall Street Zen upgraded shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average 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 stock in a transaction dated 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 transaction, the chief accounting officer now owns 5,840 shares in the company, valued at $4,778,521.60. This represents a 14.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.13% of the company's stock.

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.