Carnegie Investment Counsel Raises Position in Eli Lilly and Company (NYSE:LLY)

Key Points

• Carnegie Investment Counsel raised its stake in Eli Lilly by 10.8%, now holding 9,379 shares worth approximately $7.75 million as of the latest SEC filing.
• Institutional investors own 82.53% of Eli Lilly's stock, indicating strong interest from hedge funds and other institutions.
• Despite missing earnings expectations last quarter, Eli Lilly's revenue grew by 45.2% year-over-year, totaling $12.73 billion.

Carnegie Investment Counsel lifted its position in shares of Eli Lilly and Company (NYSE:LLY - Free Report) by 10.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,379 shares of the company's stock after purchasing an additional 917 shares during the quarter. Carnegie Investment Counsel's holdings in Eli Lilly and Company were worth $7,746,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LLY. GAMMA Investing LLC raised its holdings in shares of Eli Lilly and Company by 103,831.6% in the 1st quarter. GAMMA Investing LLC now owns 14,866,380 shares of the company's stock valued at $12,278,292,000 after acquiring an additional 14,852,076 shares in the last quarter. Norges Bank bought a new stake in shares of Eli Lilly and Company in the 4th quarter worth approximately $8,407,908,000. Wellington Management Group LLP grew its position in shares of Eli Lilly and Company by 19.0% in the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock worth $9,747,214,000 after buying an additional 2,012,129 shares during the last quarter. Capital International Investors grew its position in shares of Eli Lilly and Company by 23.2% in the 4th quarter. Capital International Investors now owns 8,730,758 shares of the company's stock worth $6,740,272,000 after buying an additional 1,645,222 shares during the last quarter. Finally, Capital Research Global Investors grew its position in shares of Eli Lilly and Company by 16.1% in the 4th quarter. Capital Research Global Investors now owns 10,757,511 shares of the company's stock worth $8,304,811,000 after buying an additional 1,493,673 shares during the last quarter. 82.53% of the stock is owned by hedge funds and other institutional investors.

Eli Lilly and Company Price Performance

Shares of NYSE LLY traded up $1.82 during mid-day trading on Monday, reaching $814.51. The company's stock had a trading volume of 857,973 shares, compared to its average volume of 3,747,189. The firm has a market capitalization of $771.94 billion, a PE ratio of 66.21, a P/E/G ratio of 1.18 and a beta of 0.40. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.37 and a quick ratio of 1.06. The stock has a fifty day moving average of $771.95 and a two-hundred day moving average of $800.61. Eli Lilly and Company has a 52 week low of $677.09 and a 52 week high of $972.53.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $3.34 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 firm 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 company posted $2.58 earnings per share. Eli Lilly and Company's quarterly revenue was up 45.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's payout ratio is presently 48.82%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on LLY shares. Hsbc Global Res lowered Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Erste Group Bank lowered Eli Lilly and Company from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Wall Street Zen upgraded Eli Lilly and Company from a "hold" rating to a "buy" rating in a research report on Saturday. The Goldman Sachs Group upgraded Eli Lilly and Company from a "neutral" rating to a "buy" rating and dropped their price target for the company from $892.00 to $888.00 in a research report on Tuesday, April 8th. Finally, UBS Group dropped 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 research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target 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.