Austin Asset Management Co Inc Makes New $3.08 Million Investment in Eli Lilly and Company (NYSE:LLY)

Austin Asset Management Co Inc purchased a new position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,734 shares of the company's stock, valued at approximately $3,084,000. Eli Lilly and Company accounts for 0.7% of Austin Asset Management Co Inc's holdings, making the stock its 21st largest position.

A number of other institutional investors have also modified their holdings of the company. FWG Holdings LLC increased its stake in Eli Lilly and Company by 0.6% during the fourth quarter. FWG Holdings LLC now owns 2,023 shares of the company's stock worth $1,640,000 after purchasing an additional 12 shares during the period. Morling Financial Advisors LLC increased its stake in Eli Lilly and Company by 4.7% during the 4th quarter. Morling Financial Advisors LLC now owns 266 shares of the company's stock worth $205,000 after buying an additional 12 shares during the period. Prestige Wealth Management Group LLC lifted its holdings in Eli Lilly and Company by 2.0% during the 4th quarter. Prestige Wealth Management Group LLC now owns 606 shares of the company's stock worth $468,000 after buying an additional 12 shares in the last quarter. Applied Finance Capital Management LLC boosted its position in Eli Lilly and Company by 1.4% in the 4th quarter. Applied Finance Capital Management LLC now owns 855 shares of the company's stock valued at $660,000 after buying an additional 12 shares during the period. Finally, Garner Asset Management Corp grew its stake in shares of Eli Lilly and Company by 2.3% in the fourth quarter. Garner Asset Management Corp now owns 532 shares of the company's stock worth $411,000 after acquiring an additional 12 shares in the last quarter. 82.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LLY. Wells Fargo & Company reiterated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Erste Group Bank downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Morgan Stanley reiterated an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Wall Street Zen downgraded Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Cantor Fitzgerald assumed coverage on shares of Eli Lilly and Company in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Eli Lilly and Company has a consensus rating of "Moderate Buy" and a consensus target price of $1,011.61.

Eli Lilly and Company Price Performance

Shares of LLY opened at $776.18 on Friday. The firm has a fifty day moving average price of $780.19 and a 200 day moving average price of $799.94. The stock has a market cap of $735.61 billion, a PE ratio of 63.16, a price-to-earnings-growth ratio of 1.16 and a beta of 0.40. 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 2.18, a current ratio of 1.37 and a quick ratio of 1.06.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted 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). The firm had revenue of $12.73 billion during the quarter, compared to analysts' expectations of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The firm's revenue for the quarter was up 45.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.58 earnings per share. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Friday, August 15th. Eli Lilly and Company's payout ratio is currently 48.82%.

Eli Lilly and Company 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.

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