Baker Avenue Asset Management LP Purchases 2,864 Shares of Eli Lilly and Company (NYSE:LLY)

Key Points

• Baker Avenue Asset Management LP increased its stake in Eli Lilly and Company by 18.0% in the first quarter, owning 18,735 shares now valued at approximately $15.47 million.
• Several hedge funds, including Commerce Bank and Nicolet Advisory Services LLC, have also enhanced their positions in Eli Lilly, contributing to an institutional ownership of 82.53% in the stock.
• Analysts have mixed opinions on the stock, with seventeen buy ratings and a consensus price target of approximately $1,012.56, showing a generally positive outlook despite a reported earnings miss of $1.30 per share.

Baker Avenue Asset Management LP boosted its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 18.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,735 shares of the company's stock after buying an additional 2,864 shares during the quarter. Baker Avenue Asset Management LP's holdings in Eli Lilly and Company were worth $15,474,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in shares of Eli Lilly and Company by 103,831.6% during the 1st 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 last quarter. Capital Research Global Investors lifted its position in Eli Lilly and Company by 16.1% during the fourth quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock worth $8,304,811,000 after acquiring an additional 1,493,673 shares during the last quarter. Northern Trust Corp lifted its position in Eli Lilly and Company by 14.6% during the fourth quarter. Northern Trust Corp now owns 9,448,219 shares of the company's stock worth $7,294,025,000 after acquiring an additional 1,204,337 shares during the last quarter. Capital International Investors lifted its position in Eli Lilly and Company by 23.2% during the fourth quarter. Capital International Investors now owns 8,730,758 shares of the company's stock worth $6,740,272,000 after acquiring an additional 1,645,222 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Eli Lilly and Company by 15.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,084,880 shares of the company's stock worth $5,469,527,000 after acquiring an additional 969,376 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company's stock.

Eli Lilly and Company Price Performance

Eli Lilly and Company stock traded up $21.40 during mid-day trading on Friday, reaching $761.47. 4,857,388 shares of the company's stock traded hands, compared to its average volume of 3,285,034. The company has a market cap of $721.68 billion, a price-to-earnings ratio of 55.40, a PEG ratio of 1.08 and a beta of 0.44. The stock has a 50 day moving average of $775.51 and a two-hundred day moving average of $799.86. The company has a quick ratio of 1.06, a current ratio of 1.37 and a debt-to-equity ratio of 2.18. Eli Lilly and Company has a 12-month low of $677.09 and a 12-month high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings results 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 business had revenue of $12.73 billion for the quarter, compared to analysts' expectations of $12.77 billion. During the same period in the previous year, the company earned $2.58 EPS. Eli Lilly and Company's revenue for the quarter was up 45.2% compared to the same quarter last year. Equities analysts forecast that Eli Lilly and Company will post 23.48 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders 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 annualized dividend and a dividend yield of 0.8%. Eli Lilly and Company's dividend payout ratio is currently 48.82%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LLY. UBS Group dropped their price target on shares of Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Wells Fargo & Company reissued an "overweight" rating on shares of Eli Lilly and Company in a research note on Thursday, May 1st. Morgan Stanley reaffirmed an "overweight" rating and set a $1,135.00 target price (up previously from $1,133.00) on shares of Eli Lilly and Company in a research note on Thursday, July 10th. Wall Street Zen raised shares of Eli Lilly and Company from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Cantor Fitzgerald initiated coverage on shares of Eli Lilly and Company in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $975.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $1,012.56.

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.