Artemis Investment Management LLP Purchases 14,758 Shares of Eli Lilly and Company (NYSE:LLY)

Artemis Investment Management LLP lifted its stake in Eli Lilly and Company (NYSE:LLY - Free Report) by 24.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,068 shares of the company's stock after purchasing an additional 14,758 shares during the quarter. Artemis Investment Management LLP's holdings in Eli Lilly and Company were worth $61,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Mascagni Wealth Management Inc. acquired a new position in Eli Lilly and Company in the fourth quarter worth approximately $43,000. Prudent Man Investment Management Inc. acquired a new position in Eli Lilly and Company in the fourth quarter worth approximately $48,000. Highline Wealth Partners LLC increased its holdings in Eli Lilly and Company by 53.3% in the first quarter. Highline Wealth Partners LLC now owns 69 shares of the company's stock worth $57,000 after buying an additional 24 shares during the last quarter. Capital A Wealth Management LLC acquired a new position in Eli Lilly and Company in the fourth quarter worth approximately $63,000. Finally, Bellwether Advisors LLC acquired a new position in Eli Lilly and Company in the fourth quarter worth approximately $66,000. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

LLY traded down $18.94 during trading on Friday, reaching $776.18. 4,109,419 shares of the company's stock were exchanged, compared to its average volume of 3,683,590. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18. The business has a 50 day moving average price of $780.19 and a 200 day moving average price of $799.96. The company has a market capitalization of $735.61 billion, a P/E ratio of 63.16, a PEG ratio of 1.13 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share (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 company had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $12.77 billion. During the same period in the previous year, the business posted $2.58 earnings per share. The firm's revenue was up 45.2% compared to the same quarter last year. As a group, analysts predict 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 Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a $1.50 dividend. 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 0.77%. Eli Lilly and Company's dividend payout ratio is 48.82%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. UBS Group lowered their price target 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. Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. HSBC downgraded Eli Lilly and Company from a "buy" rating to a "reduce" rating and lowered their price target for the company from $1,150.00 to $700.00 in a report on Monday, April 28th. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and lowered their price target for the company from $892.00 to $888.00 in a report on Tuesday, April 8th. Finally, Erste Group Bank downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,011.61.

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.