Avalon Capital Management Boosts Stock Position in Eli Lilly and Company (NYSE:LLY)

Key Points

• Avalon Capital Management increased its holdings in Eli Lilly and Company by 6.7%, owning 5,559 shares valued at approximately $4.59 million, making it the firm's 25th largest position.
• Eli Lilly's recent earnings report showed an EPS of $3.34, which missed analysts' expectations of $4.64, while quarterly revenue increased by 45.2% year-over-year.
• The company declared a quarterly dividend of $1.50, set to be paid on September 10, with an annualized yield of 0.74% and a payout ratio of 48.82%.

Avalon Capital Management lifted its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 6.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,559 shares of the company's stock after acquiring an additional 347 shares during the period. Eli Lilly and Company accounts for approximately 1.3% of Avalon Capital Management's investment portfolio, making the stock its 25th biggest holding. Avalon Capital Management's holdings in Eli Lilly and Company were worth $4,591,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Eli Lilly and Company by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 17,382,846 shares of the company's stock worth $13,389,651,000 after buying an additional 291,875 shares in the last quarter. GAMMA Investing LLC grew its stake in Eli Lilly and Company by 103,831.6% during the first quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock worth $12,278,292,000 after buying an additional 14,852,076 shares during the period. Wellington Management Group LLP raised its position in Eli Lilly and Company by 19.0% in the fourth quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock valued at $9,747,214,000 after purchasing an additional 2,012,129 shares during the period. Capital Research Global Investors grew its holdings in Eli Lilly and Company by 16.1% during the 4th quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock valued at $8,304,811,000 after purchasing an additional 1,493,673 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Eli Lilly and Company by 14.6% during the 4th quarter. Northern Trust Corp now owns 9,448,219 shares of the company's stock valued at $7,294,025,000 after purchasing an additional 1,204,337 shares in the last quarter. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Down 1.9%

Eli Lilly and Company stock traded down $14.68 during mid-day trading on Thursday, reaching $745.40. The stock had a trading volume of 3,309,889 shares, compared to its average volume of 3,782,939. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37. The stock's 50-day simple moving average is $774.07 and its 200-day simple moving average is $800.13. Eli Lilly and Company has a fifty-two week low of $677.09 and a fifty-two week high of $972.53. The firm has a market capitalization of $706.45 billion, a PE ratio of 60.75, a price-to-earnings-growth ratio of 1.08 and a beta of 0.40.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its 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 22.67% and a return on equity of 85.51%. The business had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. During the same period in the prior year, the business earned $2.58 earnings per share. The company's revenue for the quarter was up 45.2% compared to the same quarter last year. On average, sell-side analysts forecast that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid 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 yield of 0.80%. Eli Lilly and Company's dividend payout ratio is currently 48.82%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Hsbc Global Res lowered shares of Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research note on Monday, April 28th. Erste Group Bank cut shares of Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Cantor Fitzgerald began coverage on 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. Guggenheim lifted their price target on Eli Lilly and Company from $936.00 to $942.00 and gave the company a "buy" rating in a report on Friday, July 11th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $1,135.00 price target (up from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $1,012.56.

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.