Castle Rock Wealth Management LLC Grows Stock Position in Eli Lilly and Company (NYSE:LLY)

Castle Rock Wealth Management LLC increased its position in Eli Lilly and Company (NYSE:LLY - Free Report) by 26.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,760 shares of the company's stock after purchasing an additional 785 shares during the period. Eli Lilly and Company makes up 0.8% of Castle Rock Wealth Management LLC's investment portfolio, making the stock its 27th largest holding. Castle Rock Wealth Management LLC's holdings in Eli Lilly and Company were worth $3,055,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in 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 during the period. Norges Bank bought a new stake in Eli Lilly and Company in the 4th quarter valued at about $8,407,908,000. Proficio Capital Partners LLC raised its stake in Eli Lilly and Company by 100,387.1% in the 4th quarter. Proficio Capital Partners LLC now owns 5,202,215 shares of the company's stock valued at $4,016,110,000 after acquiring an additional 5,197,038 shares during the period. Wellington Management Group LLP grew its holdings in Eli Lilly and Company by 19.0% during the 4th quarter. Wellington Management Group LLP now owns 12,625,925 shares of the company's stock valued at $9,747,214,000 after buying an additional 2,012,129 shares in the last quarter. Finally, Capital International Investors grew its holdings in Eli Lilly and Company by 23.2% during the 4th quarter. Capital International Investors now owns 8,730,758 shares of the company's stock valued at $6,740,272,000 after buying an additional 1,645,222 shares in the last quarter. 82.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LLY. UBS Group cut their price objective on Eli Lilly and Company from $1,100.00 to $1,050.00 and set a "buy" rating for the company in a report on Friday, May 2nd. HSBC lowered Eli Lilly and Company from a "buy" rating to a "reduce" rating and cut their price objective for the stock from $1,150.00 to $700.00 in a report on Monday, April 28th. Guggenheim reissued a "buy" rating on shares of Eli Lilly and Company in a report on Friday, May 23rd. Hsbc Global Res downgraded Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a research report on Monday, April 28th. Finally, Morgan Stanley restated an "overweight" rating on shares of Eli Lilly and Company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,011.37.

Eli Lilly and Company Trading Up 2.5%

Shares of Eli Lilly and Company stock traded up $18.55 during midday trading on Wednesday, reaching $769.33. 1,359,709 shares of the company's stock traded hands, compared to its average volume of 3,630,295. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.97 and a current ratio of 1.15. The company has a market cap of $729.12 billion, a PE ratio of 65.70, a price-to-earnings-growth ratio of 1.40 and a beta of 0.48. The stock has a 50 day moving average of $773.82 and a 200-day moving average of $799.64. 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 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 return on equity of 85.24% and a net margin of 23.51%. The company had revenue of $12.73 billion during the quarter, compared to analysts' expectations of $12.77 billion. During the same period in the prior year, the company posted $2.58 earnings per share. The company's revenue was up 45.2% on a year-over-year basis. As a group, equities analysts expect that Eli Lilly and Company will post 23.48 EPS for the current fiscal year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 16th will be issued a $1.50 dividend. The ex-dividend date is Friday, May 16th. This represents a $6.00 annualized dividend and a yield of 0.78%. Eli Lilly and Company's payout ratio is 48.82%.

Insiders Place Their Bets

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 1,000 shares of Eli Lilly and Company stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $818.24, for a total value of $818,240.00. Following the sale, the chief accounting officer now owns 5,840 shares of the company's stock, valued at $4,778,521.60. The trade was a 14.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.13% of the company's stock.

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.