Callahan Advisors LLC Has $13.76 Million Position in Eli Lilly and Company (NYSE:LLY)

Callahan Advisors LLC boosted its holdings in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 16.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,660 shares of the company's stock after acquiring an additional 2,326 shares during the period. Eli Lilly and Company makes up approximately 1.3% of Callahan Advisors LLC's investment portfolio, making the stock its 28th largest holding. Callahan Advisors LLC's holdings in Eli Lilly and Company were worth $13,759,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. WestEnd Advisors LLC boosted its stake in Eli Lilly and Company by 210.0% in the 1st quarter. WestEnd Advisors LLC now owns 31 shares of the company's stock valued at $26,000 after purchasing an additional 21 shares during the period. Citizens National Bank Trust Department boosted its stake in shares of Eli Lilly and Company by 180.0% in the first quarter. Citizens National Bank Trust Department now owns 42 shares of the company's stock valued at $35,000 after buying an additional 27 shares during the period. Financial Gravity Asset Management Inc. bought a new stake in shares of Eli Lilly and Company in the first quarter valued at approximately $40,000. Mascagni Wealth Management Inc. bought a new stake in shares of Eli Lilly and Company in the fourth quarter valued at approximately $43,000. Finally, O Brien Wealth Partners LLC boosted its stake in shares of Eli Lilly and Company by 25.5% in the first quarter. O Brien Wealth Partners LLC now owns 59 shares of the company's stock valued at $49,000 after buying an additional 12 shares during the period. 82.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on LLY. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and cut their price target for the company from $892.00 to $888.00 in a research note on Tuesday, April 8th. Cantor Fitzgerald began coverage on Eli Lilly and Company in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $975.00 price target for the company. Morgan Stanley reiterated 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. UBS Group cut their price target on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Guggenheim upped their target price on Eli Lilly and Company from $936.00 to $942.00 and gave the stock a "buy" rating in a research note on Friday. One investment 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,012.56.

Eli Lilly and Company Price Performance

Shares of LLY traded up $2.69 during trading hours on Friday, reaching $793.34. The stock had a trading volume of 2,851,585 shares, compared to its average volume of 3,670,273. The stock has a market capitalization of $751.88 billion, a PE ratio of 64.55, a PEG ratio of 1.16 and a beta of 0.40. Eli Lilly and Company has a 12 month low of $677.09 and a 12 month high of $972.53. The company's 50-day moving average is $767.03 and its two-hundred day moving average is $800.01. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.06 and a current ratio of 1.37.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $3.34 earnings per share for the quarter, missing analysts' consensus estimates of $4.64 by ($1.30). The company had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. Eli Lilly and Company had a net margin of 22.67% and a return on equity of 85.51%. The business's revenue for the quarter was up 45.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.58 earnings per share. Research analysts expect that Eli Lilly and Company will post 23.48 EPS for the current year.

Eli Lilly and Company Announces Dividend

The business also recently disclosed 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 yield of 0.76%. Eli Lilly and Company's payout ratio is 48.82%.

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.