Consolidated Capital Management LLC Makes New $6.34 Million Investment in Eli Lilly and Company (NYSE:LLY)

Consolidated Capital Management LLC purchased a new stake in shares of Eli Lilly and Company (NYSE:LLY - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 7,674 shares of the company's stock, valued at approximately $6,338,000. Eli Lilly and Company comprises approximately 2.6% of Consolidated Capital Management LLC's holdings, making the stock its 14th biggest position.

A number of other institutional investors have also recently made changes to their positions in LLY. 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 worth $26,000 after purchasing an additional 21 shares during the period. Citizens National Bank Trust Department increased its stake in shares of Eli Lilly and Company by 180.0% during 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. Mascagni Wealth Management Inc. purchased a new position in Eli Lilly and Company in the fourth quarter valued at about $43,000. O Brien Wealth Partners LLC grew its stake in 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 purchasing an additional 12 shares during the last quarter. Finally, Prudent Man Investment Management Inc. acquired a new stake in Eli Lilly and Company in the fourth quarter worth about $48,000. Hedge funds and other institutional investors own 82.53% of the company's stock.

Eli Lilly and Company Stock Performance

Eli Lilly and Company stock opened at $772.82 on Tuesday. 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 firm's fifty day moving average price is $771.52 and its 200 day moving average price is $800.30. The company has a market capitalization of $732.43 billion, a price-to-earnings ratio of 62.88, a price-to-earnings-growth ratio of 1.14 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.

Eli Lilly and Company (NYSE:LLY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $3.34 EPS for the quarter, missing the consensus estimate of $4.64 by ($1.30). Eli Lilly and Company had a return on equity of 85.51% and a net margin of 22.67%. The business had revenue of $12.73 billion during the quarter, compared to analyst estimates of $12.77 billion. During the same quarter last year, the firm posted $2.58 EPS. The company's revenue was up 45.2% compared to the same quarter last year. On average, research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be paid a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Friday, August 15th. Eli Lilly and Company's payout ratio is currently 48.82%.

Analyst Ratings Changes

A number of research firms recently commented on LLY. Morgan Stanley reaffirmed an "overweight" rating on shares of Eli Lilly and Company in a report on Thursday, May 1st. Hsbc Global Res downgraded Eli Lilly and Company from a "strong-buy" rating to a "moderate sell" rating in a report on Monday, April 28th. Guggenheim reaffirmed a "buy" rating and set a $936.00 target price on shares of Eli Lilly and Company in a report on Friday, June 20th. The Goldman Sachs Group raised Eli Lilly and Company from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $892.00 to $888.00 in a report on Tuesday, April 8th. Finally, HSBC cut Eli Lilly and Company from a "buy" rating to a "reduce" rating and reduced their price target for the company from $1,150.00 to $700.00 in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,011.61.

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.

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